Risks & Responsibilities
Risk management
For Puma Energy, strict risk management is not
a restriction but a business opportunity.
The successful management of risk, from
counterparty to credit to political to product, defines the success
of our business. We constantly strive to reduce the nature and
level of all the risks we face, and we consider our investment in
market-leading risk management systems as vital to preserving our
competitive advantage.
Puma Energy has developed a bespoke IT system which integrates
information from all our activities and provides a real-time method
for monitoring and adjusting operations according to their
environment. Puma Energy has well-defined IT security, business
continuity and disaster recovery plans in place.
A culture of risk awareness runs through all
of Puma Energy’s business activities. A full risk review is
undertaken for all new clients prior to embarking on new business
and counterparty credit limits are monitored throughout the
lifecycle of client relationships.
Puma Energy has standardized its risk and
quality management systems, policies and procedures that apply to
construction and operating activities. All construction is
conducted in accordance with internationally recognized standards
and industry best practice (American Petroleum Institute (API)
certification of installations is obtained where possible on new
construction activities) and where they do not already hold them,
all Puma Energy subsidiaries are undergoing the process of a
variety of International Standards Organisation (ISO)
accreditations.
Detailed operating policies and procedures are
in place in all operating subsidiaries and are constantly reviewed
for applicability and scope for development. Puma Energy, through
the Trafigura group, is a member of Oil Spill Response Ltd, a
non-profit organisation aimed at meeting member’s oil spill
response and consultancy needs.
Responsibilities
We believe Puma Energy’s impact on the global
economy to be a positive one. Our sphere of responsibility
and accountability however goes well beyond the creation of
economic opportunities: it also incorporates the needs of the
communities in which we operate and the environment.