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Petrobrazi refinery celebrates 90th anniversary and is gearing up for the future of transport

  • Petrobrazi will continue to play an essential role for the mobility of Romanians and for the decarbonisation of transport in Romania
  • The estimated investments to produce biofuels, green hydrogen and other products with low carbon emissions, as well as for the traditional activity, will amount to over 2 billion euros by 2030

OMV Petrom, the largest integrated energy producer in Southeastern Europe, is celebrating the 90th anniversary of the Petrobrazi refinery. The refinery currently supplies about 30% of Romania's fuel needs and will continue to play an essential role for the transport sector. OMV Petrom is embarking on an extensive investment and modernisation programme at Petrobrazi, that will transform the refinery into a modern industrial unit capable of producing both traditional fuels and next-generation biofuels.

Radu Căprău, member of the OMV Petrom Board of Directors, responsible for refining and marketing activities: "2024 is a special year for Petrobrazi refinery. We are celebrating 90 years since we set Romania in motion and we are preparing for the future of transport. The energy transition means a mix of solutions: traditional fuels, biofuels and electric mobility. And through the investments we are making in Petrobrazi, of EUR 2 billion until 2030, we will continue to provide our customers with quality fuels and biofuels.”

OMV Petrom recently announced its decision to invest around EUR 750 million in a production facility for sustainable aviation fuel (SAF) and renewable diesel (HVO), as well as two green hydrogen production plants. As a result, starting 2028, the company will be able to supply up to 250 thousand tons of biofuels per year.

Furthermore, investments to upgrade and streamline current processes will continue, which will reduce the refinery's environmental footprint. The company aims to reduce the refinery's carbon emissions by more than 15% by 2030 compared to 2019.

The company also supports social projects with a positive impact on the communities in Prahova, in the fields of health, education and environment, such as the modernisation of the Emergency County Hospital in Ploiești, the renovation and energy efficiency of schools – Efficient Romania, and afforestation – Romania plants for Tomorrow. Over the past three years, the value of these projects has exceeded 10 million euros.

About OMV Petrom  

OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 41 million boe in 2023. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.

OMV Petrom is a company in which, as of end-2023, Romanian shareholders hold over 43% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% 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 5.6% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.

OMV Petrom is one of the largest contributors to the state budget, with approximately 42 billion euro in taxes and dividends paid between 2005 and 2023. During the same period, the company invested approximately 18 billion euro.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2023, the company has allocated around 160 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.