Preem

Last updated

Preem
Company typePrivate
IndustryPetroleum, biofuels
PredecessorOK Petroleum
Founded14 July 1960;65 years ago (14 July 1960)
Headquarters
Sweden
Area served
 Sweden, Norway, Europe
ProductsFuels, biofuels, heating oil, lubricants
Production output
Over 18 million tonnes of crude oil per year
RevenueSEK 131 billion (2024)
SEK 2.2 billion (2024)
Number of employees
Over 1,600 (2024)
Parent VAROPreem
Website https://www.varopreem.com
Preem in Karlskrona. Preem Karlskrona.jpg
Preem in Karlskrona.

Preem is a Swedish fuel company historically operating the Gothenburg and Lysekil refineries, along with a nationwide supply and distribution network. It sells fuel via staffed stations with service shops, automatic stations and filling stations intended for heavy commercial traffic.

Contents

Background

The raw materials are processed and sold as fuels, heating oil, lubricating oils and other products to both companies and individuals in Sweden and Norway. Nearly 65% ​​of its production is sold to the international market, [1] mainly in north-west Europe, which means that Preem is among the largest Swedish exporters.

Approximately half of all petroleum products consumed in Sweden come from Preem's refineries. While sales in the Swedish market are made through that country's supply networks, products are sold in Norway primarily through retailers and in bulk via direct sales.

With just over 1,600 employees, more than 3,000 people work under the Preem brand, including partners, retailers, and dealers. The company has announced plans, which are still in progress, to expand its refinery in Lysekil. [2]

History

Founded in 1960, the company was known as Ok Petroleum at the time it became Preem in 1996. Its new name is a version of "pre-eminent". [3] [4]

Up until two years before changing its name, the firm was owned by the Swedish government, Neste OY, and KF. In 1994, Preem came under the control of Ethiopian-Saudi businessman Mohammed al-Amoudi through his British-Swedish holding company, Corral Petroleum Holdings AB (CPH). [5]

In 2017, the firm released 2.1 million tonnes of carbon dioxide (of which about two-thirds at the Lysekil refinery). [6] In 2020, a year after reaching a corresponding figure of 1.7 million tonnes, [2] it began a test facility for a technology to reduce carbon dioxide emissions.

In 2024, the turnover was SEK 131 billion [7] and the operating result was SEK 2,2 billion. In July, the International Center for Settlement of Investment Disputes ordered Morocco to pay $150 million to CPH. [8]

In 2026, VARO Energy completed the acquisition of Preem's parent company, Corral Petroleum Holdings. With this, the Swedish firm became part of VAROPreem, as well as part of its broader refining and supply operations. [9] [10] [11] [12] [13]

Owner structure

Until 2026, the group's structure was divided into four levels: [14] Mohammed H. Al Amoudi → Moroncha Holdings Co. Ltd → CPH → Preem

Services

Preem has three types of petrol stations:

See also

References

  1. ↑ "Preem - Vår verksamhet".
  2. 1 2 "Preem Sustainability Report 2019" (PDF).
  3. ↑ "Ooops – this page has moved!".
  4. ↑ "Who we are".
  5. ↑ "Sheikh Mohammed Hussein Alamoudi Official Website". Sheikh Mohammed Hussein Al Amoudi. Retrieved 16 June 2020.
  6. ↑ "Preem Sustainability Report 2017" (PDF).
  7. ↑ "Annual and Sustainability Report 2024 - Transition in progress For a better journey to 2035. Because we want to, can and must" (PDF). Archived from the original (PDF) on 29 April 2025.
  8. ↑ "PÉTROLE & GAZ MAROC Dans l'affaire Samir, victoire amère de Corral face au Maroc".
  9. ↑ "Drivkraft Sverige".
  10. ↑ "Preem - Om oss".
  11. ↑ "Preem - Våra anläggningar".
  12. ↑ "Vitol-Backed Varo Agrees to Buy Preem in Bet on Renewable Fuels". Bloomberg.com. Archived from the original on 29 August 2025. Retrieved 16 January 2026.
  13. ↑ "VARO completes acquisition to create VAROPreem". Bioenergy Insight. Retrieved 16 January 2026.
  14. ↑ "About Corral Petroleum Holdings AB".
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