OMV has sold its oil-refinery assets in Switzerland and Germany

Varo Energy B.V., owned by Vitol (50%) and Carlyle International Energy Partners (CIEP) (50%), has completed the acquisition of shares currently held by OMV Deutschland GmbH (Vienna SE – OMV:AV) in Bayernoil Raffineriegesellschaft mbH, as well as certain downstream assets owned by OMV Deutschland GmbH.

The acquisition establishes Varo Energy as a major midstream energy business in north-west Europe. It has a combined refining capacity of 160,000 bbl/d, sales of 10 million cubic meters per year and 1.7million cubic meters of storage capacity.