Romania: OMV Petrom Advances Execution of Its Strategy 2030

Romania’s OMV Petrom is making significant progress in executing its Strategy 2030, with around half of its planned EUR 11 billion investment program for 2022–2030 already deployed. The company says its transformation is advancing across natural gas, renewable power, sustainable fuels, hydrogen, energy storage and electric mobility.

Neptun Deep Moves Closer to First Gas

One of the most important projects under OMV Petrom’s strategy is Neptun Deep, the large offshore natural gas development in Romania’s Black Sea.

OMV Petrom and its project partner Romgaz expect the first natural gas from Neptun Deep to enter Romania’s National Transmission System during the first half of 2027. Production is expected to reach its plateau by the end of the third quarter of 2027, with annual production at the plateau estimated at around 8 billion cubic metres on a 100% project basis.

The project is designed to strengthen Romania’s domestic gas supply and contribute to regional energy security. OMV Petrom also plans to continue exploration activities, with two to three additional exploration wells in Romania and Bulgaria targeted by 2030.

Renewable Power Portfolio Continues to Expand

OMV Petrom is also building an integrated electricity business combining natural-gas generation with renewable energy and battery storage.

The company currently has a 0.9 GW gas-fired power plant at Brazi and more than 1.3 GW of renewable power projects in Romania and Bulgaria. More than 0.7 GW of the renewable portfolio is already under construction, with solar and wind projects expected to progressively enter operation.

OMV Petrom expects its renewable electricity projects to generate more than 2.4 TWh annually by 2030. Around 50 MW of renewable capacity was already operational at the end of August 2026.

The company is also developing more than 0.3 GW of electricity storage capacity by 2030 to improve flexibility and capture greater value across its power portfolio.

Petrobrazi Becomes a Platform for Sustainable Fuels

Another major element of Strategy 2030 is the transformation of the Petrobrazi refinery into a platform for future mobility and lower-carbon fuels.

OMV Petrom is progressing with a EUR 560 million sustainable fuels unit at Petrobrazi. The facility is designed to produce 250,000 tonnes per year of sustainable aviation fuel (SAF) and renewable diesel (HVO) when completed in 2028.

Construction is advancing, with foundations completed and major equipment, including columns and reactors, already delivered and installed.

The company expects the project to become the first major sustainable-fuels production facility of its type in Southeastern Europe. The fuels are intended to support sectors such as aviation and heavy transport, where direct electrification can be more challenging.

Green Hydrogen Capacity Expands

Hydrogen is another important component of OMV Petrom’s refinery transformation.

The company has received equipment for two green hydrogen electrolyzers with a combined capacity of 55 MW for the Petrobrazi refinery. This includes a recently delivered 35 MW electrolyzer in addition to an earlier 20 MW project.

The green hydrogen will support the refinery’s transition toward lower-carbon fuel production, including the SAF/HVO project.

OMV Petrom is also evaluating additional projects that could expand its biofuels and green hydrogen production capacity before 2030.

Electric Mobility Network to Expand

OMV Petrom is continuing to develop its electric vehicle charging business as part of its future-mobility strategy.

The company says it is already the largest electric-mobility operator in Romania and plans to expand its regional charging network to approximately 5,000 charging points by 2030.

The expansion is intended to complement the company's existing fuel retail network and provide customers with a broader range of mobility options.

Focus on Emissions Reduction

OMV Petrom has maintained its target of reducing absolute Scope 1 and Scope 2 greenhouse-gas emissions by 30% by 2030 compared with 2019.

The company has, however, adjusted its target for carbon intensity associated with energy supply across Scope 1–3 from a 20% reduction to a 10% reduction, also measured against 2019 levels. OMV Petrom says progress will depend on technology maturity, market demand, supporting policies and financing conditions.

The company expects low- and zero-carbon projects to account for approximately 25% of its total EUR 11 billion investment program through 2030.

Investment Program Supports Long-Term Transformation

OMV Petrom expects average annual investment of around EUR 1.7 billion during 2024–2026, followed by approximately EUR 1 billion annually during 2027–2030 as major strategic projects progress.

The company's strategy combines continued investment in oil and gas production with growth in renewable electricity, sustainable fuels, hydrogen, battery storage and electric mobility.

OMV Petrom expects its adjusted CCA EBIT, excluding special items, to exceed EUR 1.5 billion in 2030, approximately 50% above its 2025 level.

Key Strategy 2030 Developments

OMV Petrom Continues Its Energy Transformation

OMV Petrom’s latest Strategy 2030 update shows continued progress across several major energy projects in Romania and the wider Southeast European region.

The company is simultaneously advancing the Neptun Deep gas project, renewable electricity generation, battery storage, sustainable fuels, green hydrogen and electric-vehicle charging infrastructure. These projects are being developed alongside its existing oil, gas and refining operations.

With EUR 5.4 billion already invested since the strategy was launched in 2021, OMV Petrom is continuing to build a more diversified energy portfolio while progressing toward its 2030 investment and emissions objectives.

Source

OMV Petrom – Significant Progress in the Execution of Strategy 2030

OMV Petrom – Neptun Deep Advances Toward First Gas · OMV Petrom – SAF/HVO Project at Petrobrazi