Carlyle Group Enters List of Top 10 European Oil Refiners

The Carlyle Group has entered the ranking of Europe’s top 10 fuel makers as Big Oil companies streamline their portfolios.

The private equity giant owns two-thirds in Varo Energy, which completed its acquisition of Sweden’s Lysekil and Gothenburg refineries in January. Along with its existing holdings, that moves Carlyle into ninth position among the region’s fuel makers, according to data compiled by Bloomberg.