Roger Brown starts as CEO of Varo Energy – Group announces CHF 50 million investment in Cressier Refinery
Varo Energy, a growing oil refining and distribution company in North West Europe, today announced that Roger Brown has taken up his new role as the company’s CEO. He is based in Zug, Switzerland. Previously CEO of Klesch Petroleum, he also brings 25 years of experience in senior roles at BP.
“I am looking forward enormously to working with all of our employees in Switzerland and Germany. Varo Energy aims to become a leading refiner and distributor of oil products, and while refining in Europe remains immensely challenging for everyone, I believe we have the right people and assets to enable us to achieve our objective”, said Roger Brown.
This year, Varo Energy will invest over 50 million Swiss francs in the refinery turnaround and other projects at Cressier Refinery, Switzerland. “2015 is a milestone for the Cressier Refinery. It is one of the most significant investments in the site’s history and will put our Swiss refinery in a position where it can remain competitive for the long term”, said Roger Brown. The investment will focus on safety, asset integrity and growth, with projects including a partial conversion of the refinery’s energy sourcing to natural gas, a cleaner source of energy, and technical upgrades to allow for the production of gasoline containing up to 5% ethanol produced from renewable sources.
Varo Energy comprises the three core business areas of refining, storage, and distribution and sales. The company was founded in 2012 with the acquisition of the Cressier Refinery and has already invested over 40 million Swiss francs in the plant since its acquisition, including the construction of a new state of the art control room.
The company also owns a 45% share in the Bayernoil Refinery in Germany, one of Europe’s largest and most modern refineries, storage facilities throughout Germany and Switzerland as well as marketing businesses in both countries.
Varo Energy is owned by The Carlyle Group and Vitol.
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About Varo Energy
Varo Energy is a growing oil refining and distribution company in North West Europe. The company refines, stores and distributes oil products in Switzerland and Germany. Varo Energy is a partnership between the global alternative asset manager The Carlyle Group and international energy and commodities company Vitol.
For more information about Varo Energy, please visit www.varoenergy.com.