OMV Petrom, the largest energy company in Southeastern Europe, has invested approximately EUR 21mn at Petrobrazi refinery in order to increase the bio-blending capacity and to improve the infrastructure for the transport, unloading and storage of bio-components within the refinery. OMV Petrom supplies fuels with a volumetric bio-content of 6.5% in diesel and 8% in gasoline.
Following investments of approximately EUR 21mn allocated starting 2018, Petrobrazi has increased the blending capacity of bio-content in fuels from 200 kilotons to approximately 350 kilotons of biofuels per year.
As per European regulations, the renewable energy content in transportation fuels must increase from 10% in 2020 to 14% in 2030, in order to support the reduction targets of greenhouse gas emissions arising from transportation. Bio-quota targets are set as energetic substitution targets, whereby each fuel has a different energy content defined.
“We are an energy company, and we want to be part of the solution for a cleaner energy. We are investing in obtaining fuels with a high level of biofuel content, as well as in alternative solutions for mobility and in various others sustainable projects. It is a combined effort at all levels across our company, as we aim to reduce our carbon emissions by 27% by 2025 versus 2010,” said Radu Caprau, member of OMV Petrom Executive Board, responsible for Downstream Oil.
Petrobrazi has a total crude oil processing capacity of 4.5mn tons per year and, starting 2005, OMV Petrom has invested approximately EUR 1.8 bn in the refinery. One third of this investment contributed to the reduction of the environmental impact.
Through sustained investments, OMV Petrom has reduced the carbon emissions of its operations by 22% in 2019 vs. 2010.
OMV Petrom is one of the first companies in Romania to sign the UN Global Compact, since 2013. Through this project the company contributes to achieving the Sustainable Development Objective 13 – Climate Actions.
Furthermore, OMV Petrom is the first company in Romania to have announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures.