- The company’s transformation is a foundation for growth and resilience: the new activities are developed on a strong integrated traditional business
- Black Sea: Neptun Deep first gas is expected in the first half of 2027. Plateau production is expected to be reached by the end of Q3 2027 and to last nearly 10 years. Exploration continues: 2-3 new exploration wells by 2030, in total, in Romania and Bulgaria
- Integrated power: the current portfolio, that includes 0.9 GW from Brazi gas-fired power plant, will be integrated with over 1.3 GW of renewable projects and over 0.3 GW battery storage capacity (OMV Petrom share)
- Future mobility solutions: the high-performance operations of the Petrobrazi refinery are expanding with the first major biofuel production unit in South-East Europe, while our broad and competitive retail offer is enhanced by the charging points infrastructure for electric vehicles
- Competitive dividend policy maintained: payouts of approximately 50% of operating cash flow, on average, throughout the entire Strategy 2030 period.
OMV Petrom, the largest integrated energy producer in South-East Europe, progresses with the implementation of its Strategy 2030. Around half of the record 11 billion euro investments planned by 2030 have already been made, supporting progress on strategic projects.
Christina Verchere, CEO OMV Petrom: „Our transformation is well underway. Since launching the Strategy 2030 in December 2021, we have invested EUR 5.4 billion to strengthen and diversify our business, expand our presence in South-East Europe and build new growth pillars. The projects currently under development are expected to support long-term growth and create value for all stakeholders.”
In a highly dynamic global market environment, with growing energy demand and supply constraints, the company’s strategy remains resilient.
The portfolio of assets and projects provides the flexibility needed to respond to market developments and to the energy transition pace, while keeping the strategic direction, investment plans and dividend policy unchanged.
Black Sea
The Black Sea plays a vital role in the regional energy security, and OMV Petrom’s portfolio includes exploration, development and production activities, in Romania and Bulgaria.
In 2026, the Neptun Deep project made significant progress with the installation of the Neptun Alpha platform and the advancement of works on the offshore pipeline and production infrastructure, which enables us to confirm the timeline for first gas in the first half of 2027. Plateau production is expected to be reached by the end of Q3 2027 and to last almost 10 years.
The company plans to continue its offshore exploration activities, with the drilling of 2-3 new wells in Romania and Bulgaria by 2030.
Exploration and Production activities support the development of the entire value chain, from oil and gas to energy products for customers (fuels, gas and electricity). In a context in which some low-carbon technologies are still in a maturing phase, local production is becoming a key factor for the security of supply, benefiting from higher investments. This will also contribute to reaching a hydrocarbon production of around 170 kboe/d in 2030[1], with gas representing more than 70%.
Integrated power[2]
The Gas and Power segment relies on a complementary portfolio of assets. This includes the 0.9 GW gas-fired power plant at Brazi, as well as a portfolio of renewable energy projects totaling more than 1.3 GW, of which more than 0.7 GW under construction in Romania and Bulgaria. The new generation capacity – mainly solar and wind – will come online gradually, with estimated production for 2030 exceeding 2.4 TWh. Cumulative capacity of approximately 50 MW was already operational at the end of August 2026.
To optimize production and capture higher value across the value chain, the company has added electricity storage projects to its portfolio, targeting a total capacity of over 0.3 GW by 2030.
At the same time, OMV Petrom continues to expand its gas and electricity trading activities, with a diversified portfolio of products and services and a growing presence in the region.
Future mobility solutions
In the Refining and Marketing segment, the modernisation of assets continues to meet changing mobility needs. Recent investments have increased the flexibility and reliability of the Petrobrazi refinery, enabling it to process a diverse range of crude oils and supporting an average utilisation rate of over 95% until 2030 in years without planned turnaround. Petrobrazi is becoming an integrated platform for the mobility of the future, with the addition of the SAF/HVO unit and inclusion of green hydrogen in production processes. Construction works for the first major sustainable fuel production facility in South-East Europe are progressing. The new unit will produce fuels using renewable feedstock. Once completed in 2028, the SAF/HVO unit at Petrobrazi will have an annual production capacity of 250,000 tonnes. All modules for the two green hydrogen FID-ed electrolyzers, with a combined capacity of 55 MW, have recently been delivered. By 2030, the company plans to expand its biofuels and green hydrogen capacities with new projects currently under evaluation.
In Retail, OMV Petrom will continue its dual-brand strategy, optimizing its network and expanding into high-traffic areas. The company will further develop its non-fuel offer and digitalization initiatives to maintain its position as the preferred choice for customers. In e-mobility, OMV Petrom is already the largest player in Romania and expects to further expand its regional network to around 5,000 charging points by 2030.
GHG emission reduction targets
The company is on track to achieve most of its GHG reduction targets, while adjusting some of them to the energy transition pace. OMV Petrom maintained its target for reduction of scope 1-2 absolute emissions by 30% and adjusted its target for reduction of scope 1 – 3 carbon intensity of energy supply from 20% to 10% (both targets in 2030 vs 2019). Progress will depend on technology readiness, market demand, as well as supportive policies and funding.
Financial frame
The company’s transformation is based on a disciplined allocation of capital and profitable investments, which are expected to generate solid financial results and enhanced returns for shareholders.
For the period 2024–2026, annual investments are expected to average to approximately EUR 1.7 bn, and are set to continue at around EUR 1 bn during the period 2027–2030, reflecting the progress of our strategic projects. Low and zero-carbon projects will account for around 25% of the total investments of 11 billion euro in 2022–2030.
All projects are expected to ensure solid internal rates of return of over 10%.
We expect to reach a Clean CCS EBIT of above EUR 1.5 bn in 2030, which represents an increase of around 50% compared to 2025, and a clean CCS ROACE of around 15% in 2030.
OMV Petrom will continue to offer a competitive level of base dividends and special dividends, cumulatively representing approximately 50% of operating cash flow, on average over the course of the strategy cycle.
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[1] Subject to extension of traditional production licenses, as agreed in principle with the State in December 2025; ~170 kboe/d (before potential divestments estimated at 10-15 kboe/d by 2030)
[2] All figures are net to OMV Petrom.