OMV Petrom: investment of EUR 1.5 million at Petrobrazi to increase the efficiency of the lighting system
- Improving the lighting system contributes to the annual reduction of carbon emissions and to increase operational safety
- Through sustained investments, OMV Petrom has reduced the carbon intensity of its operations by an estimated 25% in 2020 vs. 2010
OMV Petrom, the largest energy company in South-Eastern Europe, has invested EUR 1.5 million at the Petrobrazi refinery to streamline the lighting system of the ten industrial ramps, where crude oil and feedstock is unloaded and oil products are loaded.
The old lighting system at the refinery's supply ramps was decommissioned and conventional lighting fixtures were replaced with about 1,000 new LED fixtures. The new LED-based lighting system will halve the annual amount of electricity used by the refinery at the industrial ramps, resulting in an annual reduction of about 100-ton of carbon emissions. The reduction in emissions is equivalent to the volume of carbon dioxide sequestrated annually by about 18,000 trees.
"We have an essential role in providing the energy that Romania needs and we want to contribute through various solutions to reduce the carbon emissions in all our business segments. We continue our environmentally friendly initiatives on the entire value chain, which include both the implementation of new technologies and an efficient energy management during operations", said Radu Căprău, member of OMV Petrom Executive Board, responsible for Downstream Oil.
Petrobrazi has a total crude oil processing capacity of 4.5 mn tons per year and, starting 2005, OMV Petrom has invested approximately EUR 1.8 bn in the refinery. One third of this investment contributed to the reduction of the environmental impact.
Through sustained investments, OMV Petrom has reduced the carbon intensity of its operations by an estimated 25% in 2020 vs. 2010. OMV Petrom is one of the first companies in Romania to sign the UN Global Compact, since 2013. Through this project we contribute to achieving the Sustainable Development Objective 13 - Climate Actions. Furthermore, we are the first company in Romania to have announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53.0 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 793 filling stations, at the end 2020, under two brands – OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.0% stake in OMV Petrom. The Romanian State, through the Ministry of Economy, Energy and Business Environment, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7.0%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to the state budget, with contributions of 32.3 billion euro in taxes and dividends paid between 2005 and 2020.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.