12 Oct 2022 09:00
OMV Petrom S.A.
Investor News
12 October 2022
OMV Petrom: investment of EUR 130 million at Petrobrazi refinery to build new unit of aromatic products
► The new unit of aromatics product will deliver processes and products with low environmental impact at modern BAT (Best Available Technology) operating standards
► By putting the new unit into operation, the production capacity of aromatic products will double, from around 50 kt/year, to around 100 kt/year, starting 2026
OMV Petrom, the largest integrated energy company in South-Eastern Europe, invests approximately EUR 130 million in the next 3 years to build a new unit of aromatic products at Petrobrazi refinery. The unit will function at modern BAT (Best Available Technology) operating standards with low environmental impact. The processing capacity of the new unit is about 1,500 tons/day of reformed gasoline.
Radu Căprău, member of the OMV Petrom Executive Board responsible for the Refining and Marketing activity: "The demand for gasoline continues to be robust in Southeastern Europe. In parallel with the development of our offer for alternative mobility products, we want to provide our customers with the products they need, at high environmental standards. Other significant investments will follow at Petrobrazi, both in the technological efficiency of the refinery as well as in the production of second-generation biofuels."
The process of replacing the existing aromatic products unit will be carried out between 2023 and 2025. The aromatic products currently functioning at Petrobrazi Refinery was put into production in 1961. This is the only facility within a Romanian refinery that can ensure gasoline at European standards.
The new unit of aromatic products will be put into operation in 2026. It will ensure continuity of production of gasoline with a volumetric benzene content of less than 1%, according to current European standards. At the same time, a larger amount of toluene will be possible to obtain from the process of gasoline production. Toluene can be used to obtain commercial gasoline with improved octane number, but it can also be used as a solvent in the chemical industry to obtain paints, adhesives or in processes for obtaining leather products.
The Petrobrazi refinery has a total crude oil processing capacity of 4.5 million tons per year. Since 2005, OMV Petrom has invested approximately EUR 1.8 billion in the refinery, with a third of this investment contributing to reducing the environmental impact.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 47 million boe in 2021. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 790 filling stations under two brands - OMV and Petrom.
OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, and 28.4% is owned by natural and legal persons.
OMV Petrom is the largest contributor to the state budget, with approximately 35 billion euro in taxes and dividends paid between 2005 and 2021. During the same period, the company invested approximately 17 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2021, the company has allocated over 80 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.
Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
e-mail: investor.relations.petrom@petrom.com