OMV Petrom's Green Revolution: A Billion-Euro Investment for Romania's Energy Future
Key Ideas
  • OMV Petrom plans to invest over EUR 2 billion by 2030 in modernizing Petrobrazi refinery for biofuels, green hydrogen, and low-emission products, aiming to reduce carbon emissions.
  • The company's investment includes a production facility for sustainable aviation fuel and green hydrogen production plants, projecting to supply 250,000 tons of biofuels yearly by 2028.
  • Efforts to upgrade processes at the refinery will lead to a more sustainable operation, targeting a more than 15% reduction in carbon emissions by 2030 compared to 2019 levels.
  • Beyond business, OMV Petrom supports social projects benefiting communities in Prahova county, with initiatives in health, education, and environment, totaling over EUR 10 million in the past three years.
OMV Petrom, a key energy player in Romania, has unveiled an ambitious plan to transform its Petrobrazi refinery through a substantial investment program exceeding EUR 2 billion by 2030. This initiative aims to propel the refinery towards producing biofuels, green hydrogen, and other low-carbon emission products alongside its traditional activities. The company's strategic move includes dedicating around EUR 750 million to develop a sustainable aviation fuel and renewable diesel production facility, in addition to constructing two green hydrogen production plants. By 2028, OMV Petrom anticipates supplying a significant 250,000 tons of biofuels annually. Moreover, the refinery's modernization project is not solely focused on product innovation but also prioritizes environmental sustainability. Investments directed towards enhancing and streamlining current processes are set to decrease the refinery's ecological footprint notably. OMV Petrom has set an ambitious target to slash carbon emissions from the refinery by more than 15% by 2030 compared to 2019 levels, indicating a strong commitment to green practices. In a broader sense, beyond its industrial operations, OMV Petrom is actively engaged in social responsibility endeavors. The company extends its support to various community-focused initiatives aimed at fostering positive impacts in Prahova county. These efforts span across sectors such as health, education, and environmental conservation, reflecting a holistic approach to corporate social responsibility. To date, the cumulative value of these projects has exceeded EUR 10 million, underlining OMV Petrom's dedication to sustainable development and community welfare. Overall, OMV Petrom's strategic investments and sustainability-focused business approach not only position the company as a frontrunner in Romania's energy landscape but also underscore its commitment to driving positive change through eco-friendly practices and community empowerment.
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