OMV Petrom Strategy Update 2021+ Sustainable access to energy for every day modern life
Strategy Update 2021+ builds on the strong foundation of the 2012 - 2016 performance to deliver sustainable value creation and attractive shareholder returns. Leveraging its Romanian skills and expertise, OMV Petrom is committed to maintain and strengthen its position as a leading energy player in the region, ensuring its long-term growth, focusing on opportunities that Romania still offers while enhancing customer experience and developing its portfolio through regional expansion.
The strategy will drive performance through three key pillars:
- Enhancing competitiveness in the existing portfolio
- Developing growth options
- Regional expansion
With a clearly defined execution plan, the strategy will address the sustainability of the reserve base, target the maximization of operational efficiency and explore opportunities along the value chain, preparing the company for new developments in the energy sector. Strategy implementation will ensure improved profitability while maintaining a strong balance sheet and offering attractive shareholder returns.
Success of the strategy is fueled by three enablers:
- People and Organizational Culture
- Technology and Innovation
"Over the past five years, we have worked hard to make OMV Petrom a leaner, more efficient and more resilient business in a challenging environment. Our Strategy Update 2021+ reaffirms current directions of the company, ensuring continuity in generating sustainable performance. It takes us to the next level of ambition in our development journey rather than being transformational.We will drive efficiencies and integration, maximize our Upstream portfolio’s potential, pursue growth that Romania still offers and pursue selective regional expansion opportunities. We shall do so by leveraging the power of our people and assets, with sustainability at the core of our business and embedding technology and innovation in our daily operations. Enhancing our offer to meet customers’ evolving demands is critical to the company’s success. For our shareholders we are committed to deliver attractive returns. We set for ourselves clear targets to measure the strategy success. We are confident that all our stakeholders will see the benefits of our long-term, value-creating strategy, which we believe is well matched to an industry evolving at very rapid pace."
- says Mariana Gheorghe, CEO
Download the Strategy Update 2021+ presentation