What is Varo Energy's recent acquisition?

Varo Energy has agreed to buy Swedish refiner Preem, focusing on expanding its biofuels portfolio.

How much does Varo plan to invest in sustainable fuel?

Varo plans to invest around $3.5 billion between 2022 and 2026, with a significant portion aimed at sustainable fuel.

What is the expected impact of the acquisition on fuel supply?

The combined company will supply around 10% of Europe's road and marine fuels and become Europe's second-largest renewable fuel producer.

What is the refining capacity of the combined entity?

The combined entity will have a hydrocarbon refining capacity of 530,000 barrels per day.

Did Varo disclose the acquisition cost?

Varo did not disclose the amount paid in the all-cash deal for Preem.

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Home > Finance > Varo buys Swedish refiner Preem in bet on biofuels

Finance

Varo buys Swedish refiner Preem in bet on biofuels

Published by Global Banking & Finance Review®

Posted on March 31, 2025

1 min read

Last updated: January 24, 2026

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Varo buys Swedish refiner Preem in bet on biofuels

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Varo Acquires Preem, Strengthening Its Biofuels Investment Strategy

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