Following its announced intention to purchase additional shares in the Bayernoil Refinery in August 2019, VARO – an energy company active in North West Europe - is pleased to confirm the completion of the transaction with co-shareholder BP.

From 1st January 2020, the company holds an additional 6.4% in Bayernoil, making VARO the majority shareholder in the German refinery with a total of 51.4% shares. In addition, VARO has Also acquired BP’s Pmb-plant in Vohburg.

CEO of VARO Roger Brown said: “Bayernoil has always been an important asset for VARO. It is strategically well located for us, enabling VARO to optimise its supply options across Germany and Switzerland. This acquisition once again increases our ability to provide a secure supply of high quality products to our customers where they need them and when they need them.”

With these additional shares, VARO has increased the group’s total refining capacity to 181’000 barrels per day.

About Varo

Supplying fuel to customers is at the core of VARO’s business. VARO operates through integrated, flexible fuel value chains producing and marketing a wide variety of oil products via a network of integrated downstream assets located across Germany, Switzerland, France and the Benelux.

We are known for providing high quality oil products for everyday use through a reliable fuel depot infrastructure and with first-rate customer service. Our services are: Sourcing, Refining, Storage, Blending, Distribution & Sales.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.