We are pleased to announce that Stewart Peter will join VARO as Executive Vice President Group Trading and member of the Executive Board, effective 1 August 2025. Stewart will be based in Rotterdam.

Our planned acquisition of Preem, subject to regulatory approvals, marks a historic milestone that will expand our geographic footprint to 33 countries. The combined company will meet approximately 10% of Europe’s mobility demand. It will have six strategically positioned manufacturing hubs with a refining capacity of 530,000 barrels/day, it will be the second-largest renewable fuels producer in Europe and the fifth-largest in the world and will have access to more than 120 terminals serving over 50,000 business customers.

In this context, Trading will be central to supplying our expanding customer base and markets. It will also unlock synergies through trading and risk management and enable optimisation of flows across conventional energy and co-processing materials.

Stewart joins us from Aramco in Houston, where he was Head of Supply and Trading. He brings over 25 years of industry experience, having held senior roles such as Head of Trading at Klesch, Senior Director of Energy at Standard Bank, and Director at ABN AMRO. His expertise covers crude oil, refined products, and derivatives trading, along with refinery optimisation, risk management, and strategic business development.

At VARO, Stewart will lead our Trading organisation and oversee the implementation of the new structure as we integrate with Preem. His leadership will be key to ensuring a seamless transition, driving value creation, and advancing our broader growth and transformation agenda.

We are excited to welcome Stewart to VARO at this pivotal stage of our ONE VARO transformation as we create a new leading force in energy.

VARO Communications
Angela Nemeth
Phone: +41795129421
Email: [email protected]

Brunswick
Will Medvei and Nabhan Malik
Phone: +44 (0)20 7404 5959
Email: [email protected]