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OMV Petrom Sustainability Strategy

At OMV Petrom, we have a long tradition of responsible behavior towards employees, the environment and society. Sustainability for OMV Petrom means focus on conducting the business responsibly, efficiently and in an innovative way. We are committed to create long-term value for the company and our stakeholders, while respecting the environment, supporting the communities in which we operate, and striving to support the UN sustainable development goals.

OMV Petrom 2030 strategy will drive performance through three key pillars:

  • Transition to low and zero carbon
  • Grow regional gas 
  • Optimize traditional business

Sustainability is fully embedded in the business strategy, by running responsible operations, innovation & digitalization and fostering people and communities. 

In 2019, OMV Petrom released its sustainability strategy covering five focus areas: HSSE, Carbon Efficiency, Innovation, Employees, and Business Principles & Social Responsibility. In 2021, we set new climate targets:

  •  We are committed to achieve Net Zero operations by 2050
  •  By 2030 we will reduce the carbon emissions of our operations by ~30% , gas will make up 70% of our hydrocarbon production and ~35% of our capex will shift to low and zero carbon business
  • Achieve less than 0.2% methane intensity 
  • Phase out existing and no new projects with routine flaring and venting
  • ~ 20% reduction in Scope 1-3 carbon emissions
  • EU Taxonomy eligible CAPEX to reach 35%
  • Lower and zero carbon energy for customers, to account for ~60% in total products sold in 2030

OMV Petrom concentrates its sustainability efforts on five focus areas and fifteen targets:

  • Health, Safety, Security and Environment (HSSE): Are Key Values of OMV Petrom. Our people’s well-being and safety, as well as the integrity of the company's operating facilities and a proactive risk management system are of paramount importance for fulfilling OMV Petrom's HSSE vision: "ZERO Harm - NO Losses"
  • Carbon Efficiency: OMV Petrom focuses on improving the carbon efficiency of its operations and product portfolio. The company is fully committed to acting on climate change mitigation and responsible resource management.
  • Innovation: OMV Petrom’s efforts are aimed at developing an innovation-based culture, enhancing the digital skills of its employees and implementing new technologies in business.
  • Employees: OMV Petrom places people at the core of its business and wants to create a workplace that is fulfilling, diverse and learning-oriented.
  • Business Principles and Social Responsibility: OMV Petrom strives to uphold equally high compliance standards at all locations, and the Code of Conduct applies to all employees and suppliers. OMV Petrom acts responsibly both in the way natural resources are used in our operations, and in the way we permanently build relationships based on trust and honesty with all stakeholders.

OMV Petrom sustainability targets by 2025: