OMV Petrom starts construction of SAF/HVO units at Petrobrazi refinery
Romanian integrated energy producer OMV Petrom has announced the start of construction for a sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit at the Petrobrazi refinery in the country. This new facility will position OMV Petrom as the first major producer of sustainable fuels in the Southeast Europe, with an annual capacity of 250,000 tonnes.
The project entails an investment of EUR750 million, of which EUR560 million is allocated for the construction of the SAF/HVO unit, and EUR190 million for two green hydrogen production facilities. The biofuels facility due to be commissioned in 2028 will also produce bio-naphtha and bio-LPG.
The new unit will enable OMV Petrom to integrate the production of SAF and HVO with the existing infrastructure for fuel production, storage, and distribution.
SAF and HVO (also known as renewable diesel) are sustainable fuels manufactured by processing renewable raw materials, such as used vegetable oils and animal fats. Through advanced refining processes using green hydrogen, these materials are transformed to have characteristics similar to those of conventional kerosene and diesel. The use of these fuels allows for a significant reduction in CO2 emissions compared to traditional fossil fuels (for example, by at least 65% in the case of SAF and HVO).
The flexibility of the new facility allows for the adjustment of the type of raw materials used (used oil, animal fats) and the mix of finished products (SAF and HVO, as well as bio-naphtha and bio-LPG), depending on market requirements and the availability of feedstock.
In addition to the development of sustainable fuel production, OMV Petrom is expanding its network of charging points for electric vehicles, aiming for over 5,000 units by 2030 in Romania, compared to approximately 900 currently.
OMV Petrom has an annual group hydrocarbon production of approximately 40 million boe in 2024. The group has a refining capacity of 4.5 million tonnes annually and operates an 860 MW high-efficiency gas-fired 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.
As of end-2024, Romanian shareholders hold over 43% of the shares in the company (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities).
Austrian petchem firm OMV holds a 51.2% stake in OMV Petrom, and the remaining 5.6% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with over EUR45 billion in taxes and dividends paid between 2005 and 2024. During the same period, the company invested approximately EUR20 billion.
