The Petrobrazi refinery is celebrating its 90th anniversary, OMV Petrom announced. Petrobrazi will continue to play an essential role for the mobility of Romanians and for the decarbonisation of transport in Romania, and the estimated investments for the production of biofuels, green hydrogen and other products with low carbon emissions, as well as for the traditional activity, amount to over 2 billion euro by 2030, says the company.
The refinery currently supplies around 30% of Romania’s fuel needs and will continue to play an essential 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 next-generation biofuels.
“2024 is a special year for the Petrobrazi refinery. We are celebrating 90 years since we set Romania in motion and are preparing for the future of transport. The energy transition means a mix of solutions: traditional fuels, biofuels and electric mobility. And through the investments we are making at Petrobrazi, of 2 billion euros until 2030, we will continue to provide our customers with quality fuels and biofuels,” says Radu Căprău, member of the OMV Petrom directorate, responsible for the Refining and Marketing activity.
OMV Petrom recently announced the decision to invest around 750 million euros for a sustainable aviation fuel (SAF) and renewable diesel (HVO) production facility and two green hydrogen production facilities. Thus, starting in 2028, the company will be able to supply up to 250 thousand tons of biofuels annually.
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 over 15% by 2030 compared to 2019.
The company also supports social projects with an impact on the lives of the communities in Prahova, in the fields of health, education and the environment, such as the modernization of the Emergency County Hospital in Ploiești, the renovation and energy efficiency of schools – Efficient Romania, afforestation – Romania Plant for Tomorrow . In the last 3 years, the value of these projects amounted to over 10 million euros.
OMV Petrom is the largest integrated energy producer in Southeast Europe, with annual group crude oil and gas production of approximately 41 million boe in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates an 860 MW high-efficiency natural gas-fired power plant.