Preem

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Preem" – news · newspapers · books · scholar · JSTOR (September 2014) (Learn how and when to remove this message)

Preem

Company type	Private
Industry	Petroleum, biofuels
Predecessor	OK Petroleum
Founded	14 July 1960; 65 years ago (14 July 1960)
Headquarters	Sweden
Area served	Sweden, Norway, Europe
Products	Fuels, biofuels, heating oil, lubricants
Production output	Over 18 million tonnes of crude oil per year
Revenue	SEK 131 billion (2024)
Operating income	SEK 2.2 billion (2024)
Number of employees	Over 1,600 (2024)
Parent	VAROPreem
Website	https://www.varopreem.com

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.

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]

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]}

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

Preem has three types of petrol stations:

• Staffed petrol stations
• Unstaffed stations where the price is slightly lower but which also does not offer services like water or air
• Petrol stations for heavy professional traffic
• Preem also has several international partnerships for professional traffic through various card alliances and collaborations

• VAROPreem

• Preem
• Preem Annual Report 2019
• Preem Sustainability Report 2019