Varo Energy to acquire assets in European Total
The downstream specialist is eyeing growth in Europe by buying heating oil and diesel businesses
Two-year-old Varo Energy, Europe’s new refining and marketing operator, is to acquire assets in Switzerland from Total. The company will buy Total’s heating oil and diesel businesses in the country, together with storage facilities near Lausanne, for an unspecified sum. Varo already owns Switzerland’s Cressier refinery, so the acquisition will give the firm direct access to consumers for the refinery’s products. Varo is owned 50:50 by trading company Vitol and private-equity investor Carlyle, and was set up in early-2012 to buy the 68,000 barrels a day (b/d) Cressier facility, from bankrupt Petroplus. In July, Varo completed an acquisition of assets in Germany from OMV, giving the firm 45% o
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
