Romania's leading oil and gas group, OMV Petrom, has announced plans to invest approximately 750 million euros in building sustainable fuel plants at its Petrobrazi refinery, located near the city of Ploiesti in southern Romania. The investment includes the construction of a plant for sustainable aviation fuels (SAF), renewable diesel, and two green hydrogen plants. The SAF and renewable diesel facility, requiring 560 million euros, aims to produce around 250 kilotonnes of biofuel annually starting from 2028. The two green hydrogen plants, with a total investment of approximately 190 million euros, will have a cumulative capacity of 55 MW, producing an estimated 8 kilotonnes of green hydrogen per year. These initiatives are part of OMV Petrom's strategy to become a key player in the production of sustainable fuels in the region, addressing the growing demand for low carbon transport solutions. CEO Christina Verchere highlighted the company's commitment to investing in a lower carbon future, with a total investment pledge of 11 billion euros by 2030. Additionally, OMV Petrom is actively exploring carbon capture and utilisation technologies, exemplified by the recent testing of an innovative installation at the Petrobrazi refinery. Despite a slight decline in net profit for the first quarter of 2024, the company remains focused on expanding its operations and implementing sustainable practices to enhance its market position. Shares in OMV Petrom saw a 1.1% increase following the announcement of these sustainable investment plans.