OMV Petrom to invest €2 billion by 2030 in Petrobrazi refinery

Green Forum
OMV Petrom, the largest integrated energy producer in Southeast Europe, celebrates the 90th anniversary of the Petrobras refinery. OMV Petrom will invest more than €2 billion in the Petrobras refinery by 2030 for the production of biofuels, green hydrogen, and other low-carbon products, as well as for traditional activity.

The refinery currently supplies around 30% of Romania's fuel needs and will continue to play a key role in the transport sector. OMV Petrom is launching an extensive investment and modernization program on the Petrobrazi platform, which will transform the refinery into a modern industrial unit capable of producing both traditional fuels and state-of-the-art biofuels.

”Energy transition means a mix of solutions: traditional fuels, biofuels, and electric mobility. And with the investments we are making at Petrobrazi, €2 billion by 2030, we will continue to provide our customers with quality fuels and biofuels”, said Radu Căprău, member of the OMV Petrom Management Board, responsible for Refining and Marketing.

OMV Petrom recently announced its decision to invest around €750 million in a sustainable aviation fuel (SAF) and renewable diesel (HVO) production facility and two green hydrogen production facilities. This will enable the company to supply up to 250,000 tonnes of biofuels annually from 2028.

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

The company also supports social projects with an impact on the life of communities in Prahova, in the fields of health, education, and environment, such as the modernization of the Emergency County Hospital in Ploiesti, the renovation and energy efficiency of schools - Romania Eficient, afforestation - Romania Plants for Tomorrow. In the last 3 years, the value of these projects has amounted to more than 10 million euro.

Green Forum  |  15 July, 2024 at 11:00 AM
Green Forum  |  15 July, 2024 at 10:00 AM