ROMANIA: Petrom, investments of 2 billion euros in Petrobrazi, until 2030
Share
OMV Petrom is launching an extensive investment and modernization program on the Petrobrazi platform, of around two billion euros until 2030, which will transform the refinery into a modern industrial unit, capable of producing both traditional fuels and last-generation biofuels, according to a communication sent, Monday, AGERPRES.
The Petrobrazi Refinery, which celebrates its 90th anniversary, currently supplies around 30% of Romania’s fuel needs and will continue to play an essential role in the transport sector.
“2024 is a special year for the Petrobrazi refinery. We are celebrating 90 years since we set Romania in motion and 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 at Petrobrazi, of 2 billion euros until 2030, we will continue to provide our customers with quality fuels and biofuels”, said Radu Căprău, member of the OMV Petrom directorate, responsible for the Refining and Marketing activity .
OMV Petrom recently announced the decision to invest around 750 million euros for a production facility for sustainable aviation fuels (SAF) and diesel fuel from renewable sources (HVO) and two facilities for the production of green hydrogen. Thus, starting in 2028, the company will be able to supply up to 250,000 tons of biofuels annually.
In addition, investments will continue for the modernization and efficiency of current processes, which will reduce the environmental footprint of the refinery. The company aims to reduce the intensity of the refinery’s carbon emissions by over 15% by 2030 compared to 2019.
The company also supports social projects with an impact on the lives of the communities in Prahova, in the fields of health, education and the environment, such as the modernization of the Emergency County Hospital in Ploiesti, the renovation and energy efficiency of schools – Efficient Romania, afforestation – Romania Plant for Tomorrow . In the last 3 years, the value of these projects amounted to over 10 million euros.
OMV Petrom is the largest integrated energy producer in South-Eastern Europe, with an annual group-wide oil and gas production of approximately 41 million boe in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates a high efficiency natural gas power plant of 860 MW. On the retail oil products distribution market, the Group is present in Romania and neighboring countries through approximately 780 gas stations under two brands – OMV and Petrom.
OMV Petrom is a company in which, at the end of 2023, Romanian shareholders owned over 43% of the shares (of which the Romanian state, through the Ministry of Energy, 20.7%, and 22.5% owned by Romanian pension funds, at to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of Austria’s largest listed industrial companies, owns 51.2% of OMV Petrom shares, with the remaining 5.6% held by other foreign investors. Of the total shares of OMV Petrom, 28.1% are freely traded on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with around 42 billion euros representing fees, taxes and dividends paid between 2005 and 2023. In the same period, the company invested around 18 billion euros.
