- OMV Petrom increased the annual bio-blending capacity at Petrobrazi from 200 kilotons to approximately 350 kilotons in order to supply fuels with increased quantities of bio-components into finished products
- The use of fuels with increased bio-content contributes to achieving the EU targets of reducing greenhouse gas emissions
OMV Petrom, the largest energy company in Southeastern Europe, has invested approximately EUR 21 mn at Petrobrazi refinery in order to increase the bio-blending capacity and to improve the infrastructure for the transport, unloading and storage of bio-components within the refinery. OMV Petrom supplies fuels with a volumetric bio-content of 6.5% in diesel and 8% in gasoline.
Following investments of approximately EUR 21 mn allocated starting 2018, Petrobrazi has increased the blending capacity of bio-content in fuels from 200 kilotons to ~350 kilotons of bio-fuels per year. As per European regulations, the renewable energy content in transportation fuels must increase from 10% in 2020 to 14% in 2030, in order to support the reduction targets of greenhouse gas emissions arising from transportation. Bio-quota targets are set as energetic substitution targets, whereby each fuel has a different energy content defined.
“We are an energy company and we want to be part of the solution for a cleaner energy. We are investing in obtaining fuels with a high level of biofuel content, as well as in alternative solutions for mobility and in various others sustainable projects. It is a combined effort at all levels across our company, as we aim to reduce our carbon emissions by 27% by 2025 versus 2010”, 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 emissions of its operations by 22% in 2019 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 55.4 million boe in 2019. 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 798 filling stations, at the end of September 2020, under two brands – OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Economy, Energy and Business Environment, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 6.997%, and 21.353% 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 30.4 billion euro in taxes and dividends paid between 2005 and 2019.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007-2019, the company has allocated approximately 66 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.