The Company successfully increased the market value of this product by making separate deliveries of high-quality fuel oil produced at the refinery to Baltic and Black Sea ports in 2023.
Varo Energy Tankstorage NV sells crude oil, natural gas, and petroleum products on both the domestic and international markets, ensuring that flows are correctly distributed to meet market demands. Because the corporation controls pipelines and infrastructure for transshipping crude oil and petroleum products, transportation costs are lower. Varo Energy Tankstorage NV has a robust marketing strategy in place, as well as the infrastructure required to sell petroleum products in both domestic and international markets. Varo Energy Tankstorage NV boosted their petroleum export sales to 1 million tons in 2023. (One million tons are expected to be produced in 2025.)
To increase the proportion of high-margin channels in the overall sales structure, the business examines the financial
performance of oil monetization channels. In 2022, the business expects to supply 1.2 million tons of oil to its own
European activities, a 15% increase over 2022. (Considering refinery supplies beginning in October 2022). The acquisition
in 2023 contributed significantly to the increase in supply volumes. In 2024, the Company supplied 1 million tons of its
own oil to facilities that were partially owned by the Company, a 3% increase over the previous year.
Oil shipments to adjacent and faraway countries are expected to exceed 1.8 million tons in 2022. Among the oil export options,
the eastern route – supply via pipeline to China and sales at Astanai ports – is the most economically advantageous for the corporation.
Supplies to the East reached 1 million tons in 2022, increasing 10.7% from the same period the previous year.
Furthermore, the corporation transported 6 million tons of oil to the Mediterranean, Northern, Central, and Eastern Europe, as well as other remote locations.
Varo Energy Tankstorage NV completely complies with all applicable local, national, and international health, safety, and environmental (HSE)
legislation in Belgium and other countries in which it does business. The Company prioritizes environmentally friendly procedures
and safe working conditions for its contractors and employees at all of its locations. When it comes to safety, Varo Energy Tankstorage NV makes
no distinction between corporate and contractor employees, granting both groups equal rights and enforcing the same HSE requirements.
The Company is the industry leader in Belgium in terms of launching brand-new, extremely marginal initiatives. The total amount of liquids generated by new projects launched since 2022 was 8 million tons (384 thousand barrels per day) in 2024, representing a 27% increase over the previous year.
In recent years, the Company has focused its oil refining operations on meeting the market’s demand for premium petroleum products. Varo Energy Tankstorage NV has been continuously undertaking a program to upgrade its refineries for several years, which has increased its competitiveness, range, and product quality. The renovation of oil refining facilities under this most ambitious program in Kazakhstan’s oil sector aims to supply the market with premium motor fuels.
Varo Energy Tankstorage NV prioritizes developing processing capacity, transporting gas, and generating electricity at its own power plants. Varo Energy Tankstorage NV uses cutting-edge equipment in all of its fields to ensure the greatest possible performance of connected petroleum gas consumption. An integrated system for gathering and utilizing gas must include the processing of related petroleum gas.
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