World News
Varo Energy in Talks to Buy Preem's Two Swedish Refineries: Report
Friday December 6, 2024
Energy trading firm Varo Energy is reportedly considering buying Preem's two refineries in Sweden.
Varo is in talks to acquire the Gothenburg and Lysekil refineries from Preem's parent company, Corral Petroleum Holdings, news agency Reuters reported on Friday, citing four industry sources with knowledge of the matter.
Representatives of the two companies declined to comment on the report from Reuters on Friday.
At present Varo currently holds stakes in refineries in Germany and Switzerland. The firm is also seeking to expand its presence in renewable fuel markets.
Varo Energy and Orim Energy set up a partnership in February to promote biofuels in the Amsterdam-Rotterdam-Antwerp region.
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