Pumangol, the Angolan subsidiary of Singapore-based group Puma Energy, Tuesday inaugurated a conventional buoy mooring (CBM) system in Luanda bay, the company said.
The CBM is currently one of the largest systems of its kind in the world, is anchored at sea and will cater to small and large tankers of up to 225 tons and a maximum draft of 19.3 metres for unloading and loading of petroleum products.
According to a statement issued in Luanda, the new CBM is located in Luanda bay , near the Pumangol facilities at the Fishing Port, which is undergoing expansion to increase its storage capacity.
The expansion of the Pumangol facilities will increase storage capacity to 276 thousand cubic metres initially and this may later be expanded to 393 thousand cubic metres and once completed will cost US$400 million.
Pumangol entered Angola in 2004 and established a partnership with Sonangol to invest, recover and liberalise the oil sales and distribution industry.
The company currently has four business areas, including Pumangol Retalho, which operates fuel pumps, Pumangol Industrial, which sells fuel to industries, Pumangol Bunkering, which supplies fuel to ships and Angobetumes, which stores and distributes bitumen.
Pumangol is a subsidiary of Puma Energy, whose main shareholder is the Trafigura Beheer BV group of the Netherlands, focusing its activity on refining, distribution and transport of refinery products to consumers. (macauhub/AO)