OMV Petrom launches the Sustainability Report for 2022
- Group carbon intensity reduced by 11% vs. 2019
- Approximately EUR 40 million spent for social projects
- ESG rating agencies: OMV Petrom is included among the 2023 Top-Rated ESG Companies by Sustainalytics
OMV Petrom, the largest integrated energy company in South-Eastern Europe, has published its Sustainability Report for 2022. It provides an overview of the economic, environmental, and social impact of OMV Petrom`s operations, as well as the commitments and progress towards sustainable development.
Christina Verchere, CEO OMV Petrom: "The carbon intensity of our operations decreased last year by around 11% vs. the 2019 level. Our overarching ambition is to achieve a 30% reduction by 2030 compared to 2019. In addition, we reduced our methane emissions intensity by 70% vs. the 2019 level, progressing towards our target of less than 0.2% by 2030. OMV Petrom contributes significantly to the economic and social fabric of society. We invested approximately EUR 40 million in projects for long-term development of the communities in which we operate, for one million direct beneficiaries.”
Our Sustainability framework is built around three pillars: Environment, Social, and Governance with a clear commitment to run responsible operations, foster people and communities and leverage innovation and digitalization.
Transition to a low carbon business
In 2022, the company initiated and progressed projects that support its Strategy 2030 of supplying cleaner energy, in a sustainable manner.
The company entered a partnership with Complexul Energetic Oltenia for the construction of four photovoltaic (PV) parks with a total capacity of ~450 MW, with investments of over EUR 400 million. By putting the four parks into operation, Romania's installed solar power capacity will increase by ~30%.
Petrobrazi became the first refinery certified in Romania to produce Sustainable Aviation Fuel (SAF). The SAF volumes produced at the Petrobrazi Refinery can help reduce the CO2 emissions from commercial flights by about 70%, compared to conventional fuel.
In the area of sustainable mobility, more than 100 charging points for electrical vehicles were installed by the end of 2022, to contribute to road transport decarbonization.
To decarbonize the internal power consumption, the company progressed with the installation of PV panels in the filling stations, reaching 150 filling stations at the end of the year. OMV Petrom is planning to have photovoltaic panels installed in ~ 50% of our filling station network by 2025. The amount of electricity produced by the PV panels covers up to 25% of the consumption of a filling station.
People and communities
OMV Petrom strives to ensure a healthy, safe and development-oriented environment for employees and communities, while generating a positive economic impact in Romania.
Skills development and training are key for supporting people in reaching their potential: in 2022, OMV Petrom employees benefited from more than 200,000 hours of training. New programs were launched or continued to be implemented aiming to foster a diverse, inclusive and non-discriminatory culture.
Over 1,800 OMV Petrom volunteers attended social involvement activities sponsored by the company. Moreover, the OMV Petrom Foundation was launched, to strengthen the company's contribution to social projects.
Sustainalytics, an independent ESG rating agency, included OMV Petrom in the top 5% of the Oil & Gas Producers Industry, while EcoVadis, another sustainability ratings agency, awarded OMV Petrom the Silver Supplier status.
The report and information about OMV Petrom's sustainability initiatives are available at www.omvpetrom.com.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. 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 approximately 780 filling stations under two brands – OMV and Petrom.
OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock.
OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 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. OMV Petrom annually reports on the progress made in implementing these recommendations.