Platform Member VARO announces acquisition of Preem, Swedish based energy company

In March, Platform member VARO announced the agreement to acquire the Swedish-based energy company Preem with the purchase of 100% of the share capital of the parent company, Corral Petroleum Holdings AB. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be completed in the second half of 2025.

Preem is one of the largest energy companies in Scandinavia. The company plays a crucial role for energy security in the region as it provides over 40% of Sweden’s and around a quarter of Scandinavia’s energy needs for transportation. It serves customers in 17 countries across Europe. This new acquisition will complement VARO’s existing footprint and once completed, the combined business will allow them to supply an estimated 10% of Europe’s road and marine fuels.


Already since 2010, Preem has been one of the early movers in renewable fuel production aiming to achieve climate neutral value chains by 2035. Preem has a number of projects they are currently developing with the aim to expand renewable production on a large-scale and phase out fossil fuels. Their projects include expansion of renewable diesel production by tripling the capacity of their Lysekil plant, developing a new project which aims to be Scandinavia’s largest biojet and HVO plant by 2027 and enabling carbon capture and storage.

Read the press release here.

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