Switzerland-based VARO Energy, an energy trading and downstream fuels company, has completed its acquisition of Swedish refiner Preem AB, creating a new combined business under the name VAROPreem.
The transaction concludes VARO Energy’s “ONE VARO” transformation strategy launched in 2022.
Marine fuels will be a core focus, with supplies of traditional bunker grades as well as biofuel blends including B24, B30 and B100 to be offered across key ports in Scandinavia and northern Germany, alongside inland bunkering operations.
The company operates six manufacturing sites in Sweden, Germany, Switzerland and the Netherlands, with combined capacity of about 530,000 barrels per day of conventional fuels and 1.3 million tonnes per year of renewable fuels.
Recent investments include renewable feedstock co-processing at Preem’s Lysekil refinery in Sweden and bio-LNG production at its Coevorden site in the Netherlands.
The group said earnings are expected to be split broadly evenly between conventional and sustainable fuels following the merger.
