23 Aug 2023 08:17
OMV Petrom S.A.
Investor News
23 August 2023
OMV Petrom successfully replaced the coke drums at the Petrobrazi refinery
► The project value amounted to approximately EUR 70 million
► The coke drums were manufactured in Romania and were transported to the refinery in two oversized transports
OMV Petrom, the largest integrated energy company in Southeast Europe, has successfully completed the replacement of the four coke drums at the Petrobrazi refinery. They play an essential role in the refining process, ensuring the transformation of the heavy components into superior products. The new equipment is designed to operate at full capacity for at least two decades. The investment for the project totalled approximately EUR 70 mn.
Radu Căprău, member of the OMV Petrom Executive Board responsible for the Refining and Marketing activity: "By replacing the coke drums, we improve the efficiency and safety of our operations. The Petrobrazi refinery is now ready to continue to provide quality fuels on the Romanian and regional market. I congratulate the team that managed this challenging project, and I am glad that the drums are manufactured here, in Romania."
Each coke drum weighs almost 200 tons, is approximately six metres in diameter and 30 metres high, the equivalent of a ten-storey block. The project to replace the coke drums started in 2021 and their installation in the refinery took two months, during this year planned shutdown. A special crane, of almost 125 meters in height, equivalent to a 40-storey building, was used to replace the coke drums. The crane can lift weights of 1,600 tons.
The Petrobrazi refinery has a total crude oil processing capacity of 4.5 million tons per year. Since 2005, OMV Petrom has invested more than EUR 2 billion in the Petrobrazi refinery, with a third of this investment contributing to reducing the impact on the environment.
Find out more about the replacement of the coke drums here.
Watch here how the coke drums were transported to the Petrobrazi refinery.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. 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 neighbouring countries through approximately 780 filling stations under two brands - OMV and Petrom.
OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 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. OMV Petrom annually reports on the progress made in implementing these recommendations.
Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
e-mail: investor.relations.petrom@petrom.com