[23] In April 2021, it was announced that Trafigura control of Puma Energy would increase to over 90% after Angolan company Sonangol Group agreed to sell its stake for US$600 million.

[25][26] In September 2011 Puma completed the deal to acquire BP's downstream interests in Namibia (100%), Botswana (100%), Zambia (75%), Malawi (50%) and Tanzania (50%) for US$296 million.

[27] The deal handed the company a portfolio of retail assets across the five countries, comprising commercial and aviation fuel, lubricants, over 190 service stations, several storage depots and an import terminal.

[29] Also in 2010 the firm formed an alliance with Castrol to distribute lubricant brands in the new Southern African markets, as well as Angola and the Democratic Republic of the Congo.

[21] In March 2012 the firm acquired ExxonMobil's downstream businesses in Guatemala, El Salvador, Honduras, Nicaragua, Panama, and Belize, establishing it as one of the region's largest petroleum companies.

[22] In July 2012 the firm purchased Chevron's fuel distribution and storage businesses in Puerto Rico and the United States Virgin Islands.

[30] In March 2015, Puma Energy purchased all the assets of the Colombian fuel storage and distribution firm Save Combustibles, including 135 service stations.

[39] In October 2012 Indonesian oil and gas company MedcoEnergi signed an agreement with Puma Energy to sell a 64% stake in its liquid-fuel storage and distribution subsidiary, PT Medco Sarana Kalibaru (MSK).

[40] MSK's downstream assets include a 22,700 cubic metres (800,000 cu ft) high-speed diesel (HSD) storage facility in Jakarta as well as transport infrastructure and a distribution network for supplying fuel to mining companies in Sumatra and Kalimantan.

[41] In January 2013, Puma Energy entered the Australian market when it bought Neumann Petroleum in Queensland, Australia, including 125 service stations and an $18 million bulk seaboard fuel terminal in Brisbane.

In March 2015, Puma Energy made its first acquisition in the United Kingdom, purchasing the disused Milford Haven Refinery in Wales from Murphy Oil subsidiary Murco Petroleum for use as a fuel storage site.

[51] In 2016, Puma Energy signed a purchase agreement with BP to buy its bulk storage fuel terminal in Belfast, Northern Ireland.

[11] A Reuters article that week quoted a company statement saying that Puma Energy was "well funded by its existing shareholders" and had "no immediate needs to go to the public markets" and that an IPO was "one of various options at some point in the future".

[56] In 2012, the firm joined forces with an insurance company Madison General to sponsor Zambian national rally champion Mohammed Essa.