OMV Petrom's Strategy 2030
Continuing to provide - safely, securely and responsibly - the energy needed for today, we have embarked on a transformation path towards a lower carbon future. A future in which we are investing ~€11 bn between 2022-2030.
Our Strategy 2030 is a bold roadmap to transform our company with through three strategic pillars: Transition to low and zero carbon, Grow Regional Gas and Optimize traditional business. With ~€11 billion in planned investments between 2022-2030, it is also the largest private investment in Romania’s energy sector, supporting the country’s energy transition and strengthening regional energy security.
Our ambition is to lead the energy transition in Romania and South-East Europe.
We continue to deliver on our strategic ambition, capitalize on opportunities in emerging markets and deliver value for stakeholders while transforming for a lower carbon future. The financial frame of our Strategy 2030 envisions:
- Rigorous capital discipline, investing in projects with double-digit returns: ~€11 bn investments between 2022-2030, thereof ~25% in low and zero carbon projects
- Strong financial performance: 2030 Clean CCS EBIT of >€1.5 bn and ROACE ~15% by 2030
- Long-term, attractive returns to shareholders: 5%-10% p.a. base dividend growth, 40% - 70% of OCF yearly allocated to dividends (base and special), while maintaining a gearing ratio* <20% (*single year rate)
Resilient Strategy 2030, paced transformation for a lower carbon future
Since its launch in December 2021, our Strategy 2030 has proven its resilience against a backdrop of unprecedented global volatility and fluctuating commodity prices. While our strategic directions remain unchanged, the implementation of our plans requires agility to market trends and the broader economic context.
Our products portfolio is flexibly steered in line with expected market demand, adapted to the realities of energy transition, and to the pace of new technologies deployment. Over time, we have fine-tuned some of our 2030 projections:
- In June 2024, we accelerated our shift toward renewables, set even more ambitious e-mobility targets, and reduced targets and pace in biofuels.
- More recently, in a context of increased energy‑security focus and solid expected demand for gas and oil, we increased our hydrocarbon production target, while re-pacing investments in less mature technologies such as carbon capture and storage.
- Capital allocation also reflects the energy transition pace, the envisioned share of Low and zero carbon changing to ~25% (from ~35% previously), while increasing Traditional business and Regional gas growth investments.
OMV Petrom 2030 Strategy drives performance through three key pillars:
Transition to low and zero carbon
By 2050, OMV Petrom aims to have net zero operations, supporting Romania’s decarbonization. By 2030, a greener and more diversified portfolio will be reached by investing in renewable power generation, biofuels, alternative mobility and new technologies. Since 2021, we have achieved significant milestones:
- A portfolio of >2.5 GW (with partners) wind and solar projects in Romania and expanded regional presence in Bulgaria. At the end of 2025, more than a third of our capacity target for 2030 was under construction and ~ 70 MW of capacity was operational.
- Consolidated our position as 1st choice mobility provider in Romania with the acquisition of Renovatio network and ~1,350 charging points installed at the end of 2025
- Becoming a frontrunner in renewable fuels in SE Europe: construction ongoing for 250 kt/year SAF/HVO and ~8 kt/year (55 MW) green hydrogen unit
- Investigating additional low and zero-carbon opportunities such as: energy storage, hydrogen, geothermal, biogas.
Grow regional gas
Natural gas is a key enabler for decarbonization. Company aims to increase the share of gas in its portfolio to ~70% in 2030. In this regard, Neptun Deep is a strategic project for OMV Petrom, for Romania and for the region.
The extensive knowledge acquired in more than 40 years of operations in the Black Sea can help unlock potential for further growth beyond Romania and position OMV Petrom as the partner of choice in the region.
Neptun Deep entered the development phase, following the final investment decision taken in June 2023. We are progressing with development drilling and the project is on track to deliver the first gas in 2027.
OMV Petrom is also progressing in the Han Asparuh block, Bulgaria, where we transfered a 50% interest to our partner, NewMed Energy, while maintaining our role as operator. In January 2026, the state owned Bulgarian Energy Holding (BEH) also entered the license with a 10% interest. We awarded the drillship contract and we are actively pursuing exploration activities, with drilling started in Q4/25.
Optimize traditional business
While demand for green energy grows, OMV Petrom is well positioned to capture the resilient demand for conventional fuels and gas, contributing to Romania’s security of energy supply. We continue to transform our existing assets and capitalize on our integrated business model.
In Exploration & Production, we are working on mitigating the natural production decline (<5% p.a.*), prioritizing value over volume and strict cost management. In order to maximize the potential of our current assets, we plan to drill around 50 new wells and perform more than 400 workover jobs annually.
*2024-2030 average annual decline in traditional hydrocarbon production, before divestments and excluding Neptun Deep volumes)
In Refining & Marketing, the Petrobrazi refinery is well-prepared for high utilization rates and shifting production towards higher-value products, focusing on efficiency and sustainability, diversifying non-fuel products and expanding the biofuels value chain.
Regarding the OMV and Petrom filling stations, our long-term ambition is to continue to be the customers’ first choice in Romania, while capitalizing on our position in the other markets where we operate. As a leading provider of products and services for mobility in the region, we aim to drive value through partnerships and increased customer loyalty.
In Gas & Power the company is extending its origination and trading activities, beyond equity gas, to meet increased gas demand. Neptun Deep gas will contribute to a total of approximately 60 TWh in gas sales by 2030. Meanwhile, the Brazi power plant will support Romania’s green power transition, by integrating it with renewables and storage capacities for a better response to our customers’ needs.
Projects
On June 19, 2024, OMV Petrom organized an online conference with analysts and investors to share updates on Strategy 2030 and our transformation journey.
More recent fine-tunings to our strategic projections, in line with expected market dynamics, have been indicated with the publication of OMV Petrom Group results for January – December 2025. We will provide more details at our next Capital Markets Day, which is envisaged to take place in the second half of the year.
Disclaimer:
The information herein represents the strategic directions of OMV Petrom and may be interpreted as forward-looking statements subject to uncertainties, risks and regulatory changes which may cause the actual results/performance of OMV Petrom to be materially different. Under no circumstances may be deemed as representation/warranties of OMV Petrom or of its management regarding the company’s’ future results as well as a recommendation/ offer / invitation to subscribe for or purchase any securities.