Romania’s sole oil and gas producer OMV Petrom has commenced construction of a sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit at its Petrobrazi refinery, near Ploiesti City, about 60 km from Bucharest.
The project involves a total investment of €750M, with €560M dedicated to the SAF/HVO unit and €190M for two green hydrogen production facilities.
The new unit will enable OMV Petrom to integrate the production of SAF and HVO with the existing infrastructure for fuel production, storage, and distribution, meeting the region’s sustainable mobility needs. With an annual production capacity of 250,000 tons, it will position OMV Petrom as the first major producer of sustainable fuels in Southeast Europe.
“Investing in sustainable fuel production is part of our Strategy 2030 and reflects OMV Petrom’s commitment to energy transition and reducing carbon emissions. Sustainable fuels are essential to decarbonize transportation, especially in sectors where electrification is difficult to implement, such as aviation. Between 2022 and 2030, we are allocating 35% of our investment budget towards projects that support the energy transition, in Romania and the region” stated Christina Verchere, CEO of OMV Petrom.
Christina Verchere, CEO of OMV Petrom (Credit: OMV Petrom)
As part of its Strategy 2030, OMV most recently commissioned a new €200-million co-processing plant for production of renewable HVO blending components at its 9.6-million tpy integrated refining complex in Schwechat, Austria.
How SAF and HVO Are Produced and Their Impact on Emissions
SAF (Sustainable Aviation Fuel) and HVO (Hydrotreated Vegetable Oil, also known as renewable diesel) are manufactured by processing renewable raw materials such as used vegetable oils and animal fats. Advanced refining processes using green hydrogen transform these materials to have characteristics similar to conventional kerosene and diesel. The use of these fuels significantly reduces CO₂ emissions compared to traditional fossil fuels—by at least 65% in the case of SAF and HVO.
The flexibility of the new facility allows for adjustments in raw materials used (such as used oil and animal fats) and the mix of finished products (SAF, HVO, bio-naphtha, and bio-LPG), depending on market demand and feedstock availability.
Investment in Lower-Emission Transportation
Beyond sustainable fuel production, OMV Aktiengesellschaft’s majority-owned OMV Petrom SA is expanding its network of charging points for electric vehicles, aiming for over 5,000 units by 2030 in Romania, compared to approximately 900 currently.
2024 financial results
OMV reported its 2024 financial results, showcasing robust performance with sales reaching EUR 34 billion. The company achieved a Clean CCS Operating Result of EUR 5.1 billion and a Clean CCS Net Income attributable to stockholders of EUR 2.1 billion. Notably, cash flow from operating activities, excluding net working capital effects, increased by 14 percent to EUR 5.3 billion, representing a substantial EUR 670 million rise year-over-year. Segment-specific performance highlighted a Clean Operating Result of EUR 459 million for Chemicals, EUR 927 million for Fuels & Feedstock, and EUR 3.8 billion for Energy. Clean CCS Earnings per share stood at EUR 6.39. OMV’s financial stability was further underscored by a solid balance sheet, featuring net debt of EUR 3.2 billion and a low leverage ratio of 12 percent at the end of 2024.
OMV Petrom at a Glance
Year founded: 1991 Headquarters: Bucharest, Romania Employees: Approximately 10,000 Hydrocarbon Production: 40 million boe (2024) Refining Capacity: 4.5 million tons annually
