OMV Petrom's Strategy 2030
We continue to provide energy for today while implementing Strategy 2030, a transformation plan supported by approximately €11 bn planned investments between 2022–2030.
Strategy 2030 sets OMV Petrom’s roadmap to 2030 through three strategic directions: transition to low and zero carbon, grow regional gas and optimize traditional business. The plan is supported by approximately €11 bn planned investments between 2022–2030 and aims to support energy supply, regional energy security and the company’s transformation, with around 25% of investments currently allocated to low- and zero-carbon projects.
Periodic updates on Strategy implementation are available in our Annual Reports.
Our ambition is to play a significant role in the energy transition in Romania and South-East Europe.
We continue to implement Strategy 2030, adapting execution to market conditions while pursuing value creation and our transformation objectives. The financial frame of Strategy 2030 includes:
- Disciplined capital allocation, with approximately €11 bn planned investments between 2022–2030, including around 25% allocated to low- and zero-carbon projects
- Financial targets for 2030, including Clean CCS EBIT >€1.5 bn and ROACE of ~15%
- A dividend framework targeting 5%–10% p.a. base dividend growth and 40%–70% of operating cash flow yearly allocated to dividends (base and special), while maintaining gearing ratio below 20%* (*single year rate)
Strategy 2030: Transforming for resilient growth
Since its launch in December 2021, Strategy 2030 has remained structured around the same three strategic pillars. We remain committed to our strategic directions, our investment program, and our dividend policy, while adapting our execution to market realities and the evolving pace of the energy transition.
We maintain a flexible product portfolio, adjusted to market demand, technology maturity and value creation potential. Over time, we have fine-tuned some of our 2030 projections:
- In June 2024, we increased the renewable power and e-mobility ambitions, while revising the pace and targets for biofuels.
- In the context of increased energy-security focus and expected demand for gas and oil, we increased the 2030 hydrocarbon production target and re-paced investments in less mature technologies such as carbon capture and storage.
- The planned share of low- and zero-carbon investments changed to around 25% of total 2022-2030 investments (from ~35% previously), while the planned allocation to traditional business and regional gas growth increased.
Strategy 2030 is structured around three strategic directions:
Transition to low and zero carbon
In our Strategy 2030, we have set concrete operational and emissions reduction objectives for 2030, supported by lower carbon projects: carbon emissions of our operations (Scope 1-2) lower by 30% (vs. 2019), achieve 0.2% methane intensity, carbon intensity of energy supply (Scope 1-3) lower by 10% (vs. 2019).
Since 2021, the company has reported progress on this strategic pillar, including:
- A portfolio of more than 2.5 GW of wind and solar projects in Romania and an expanded regional presence in Bulgaria. At end-2025, more than one third of the 2030 capacity target was under construction and approximately 70 MW was operational
- Expansion of the EV charging network, including the Renovatio acquisition, with approximately 1,350 charging points installed at end-2025
- Construction underway for a SAF/HVO unit with planned capacity of 250 kt/year and two green hydrogen units using water electrolysis powered by renewable electricity of approximately 8 kt/year (55 MW)
- Evaluation of additional low- and zero-carbon opportunities, such as energy storage and geothermal
Our long-term ambition is to work towards net-zero operations (Scope 1 & 2 emissions) by 2050.
Grow regional gas
Natural gas is part of OMV Petrom’s Strategy 2030, with the company aiming to increase the share of gas in its hydrocarbon production portfolio to around 70% by 2030. Neptun Deep is a strategic project for OMV Petrom, Romania and the region, and entered the development phase after the final investment decision in June 2023. The project is progressing and is planned to deliver first gas in 2027.
OMV Petrom’s experience in the Black Sea may support further regional opportunities, including exploration potential beyond Romania, subject to regulatory approvals, project economics and market conditions.
Optimize traditional business
OMV Petrom continues to optimize its traditional business to support reliable energy supply, operational efficiency and value creation. We also 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 remains a key asset for fuel supply, preparing for evolving market and regulatory requirements, envisioning high utilization rates, focusing production on high-value products, having efficiency in mind, diversifying non-fuel products and expanding the biofuels value chain.
Regarding the OMV and Petrom filling stations, we are leveraging our dual brand strategy, aiming to continue increasing our presence in high traffic areas as Romania’s highway infrastructure develops, to strengthen our successful convenience partnership strategy and further pursue product innovation with the objective to remain our customers’ first choice.
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 represents an important asset for the country’s energy system, supporting system flexibility and reliability alongside power storage capacities, in an energy mix with an increasing share of renewables.
Projects
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.