OMV Petrom, the largest integrated energy producer in South-East Europe, has invested EUR 5.4 billion since launching its Strategy 2030 in December 2021, with the company continuing to advance projects across renewable energy, battery storage, natural gas, sustainable fuels, green hydrogen and electric mobility.
The company has planned total investments of EUR 11 billion through 2030. Around half of this investment has already been deployed to strengthen and diversify its business, expand its regional presence and develop new energy businesses.
Christina Verchere, CEO of OMV Petrom, said the company’s transformation is progressing and that projects currently under development are expected to support long-term growth.
Renewable Energy Capacity Exceeds 1.3 GW
OMV Petrom has a renewable energy project portfolio of more than 1.3 GW across Romania and Bulgaria, including more than 0.7 GW of capacity currently under construction.
The portfolio is primarily focused on solar and wind projects, which are expected to come online progressively. The company expects electricity generation from its renewable portfolio to exceed 2.4 TWh by 2030.
Approximately 50 MW of renewable capacity was already operational as of the end of August 2026.
The renewable expansion is being developed alongside OMV Petrom’s existing 0.9 GW Brazi gas-fired power plant, creating a diversified generation portfolio combining conventional and renewable energy sources.
Battery Storage Capacity Targeted Above 0.3 GW
OMV Petrom is also expanding its electricity storage portfolio to support the integration of renewable energy and improve flexibility across its power business.
The company is targeting total electricity storage capacity of more than 0.3 GW by 2030. The planned storage projects will complement its growing solar and wind portfolio and provide additional flexibility in electricity generation and supply.
OMV Petrom is also expanding its gas and electricity trading activities, with a growing presence across South-East European markets.
Neptun Deep Project Targets First Gas in 2027
Natural gas remains an important part of OMV Petrom’s energy portfolio, with the Neptun Deep offshore project in the Black Sea progressing toward production.
In 2026, the company completed the installation of the Neptun Alpha platform and continued work on offshore pipelines and production infrastructure.
First gas from Neptun Deep is expected in the first half of 2027, with plateau production targeted by the end of the third quarter of 2027. Plateau production is expected to continue for almost 10 years.
OMV Petrom expects hydrocarbon production to reach around 170 kboe/d by 2030, with natural gas accounting for more than 70%.
The company also plans to drill two to three additional exploration wells in Romania and Bulgaria by 2030.
Petrobrazi Sustainable Fuel Facility
OMV Petrom is continuing the modernisation of its Petrobrazi refinery to support changing mobility and fuel requirements.
Construction is progressing on a sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO) production unit. The facility is scheduled for completion in 2028 and is expected to have an annual production capacity of 250,000 tonnes.
The unit will use renewable feedstock to produce sustainable fuels.
The refinery modernisation programme is also intended to increase crude-processing flexibility and reliability. OMV Petrom expects Petrobrazi to achieve an average utilisation rate of more than 95% through 2030 in years without planned turnaround activities.
55 MW Green Hydrogen Electrolyzers
OMV Petrom is advancing green hydrogen projects as part of its low-carbon energy strategy.
The company has received all modules for two green hydrogen electrolyzers that have received final investment decisions. The two electrolyzers have a combined capacity of 55 MW.
Additional projects to expand biofuel and green hydrogen production capacity are currently under evaluation for development by 2030.
E-Mobility Network to Reach 5,000 Charging Points
OMV Petrom is also expanding its electric vehicle charging infrastructure across the region.
The company currently operates the largest e-mobility network in Romania and plans to increase its regional network to approximately 5,000 charging points by 2030.
The company will also continue expanding its retail network, non-fuel offerings and digital services.
Low-Carbon Projects to Account for 25% of Investments
Low- and zero-carbon projects are expected to account for around 25% of OMV Petrom’s EUR 11 billion investment programme for 2022–2030.
The company expects average annual investments of approximately EUR 1.7 billion during 2024–2026, followed by around EUR 1 billion annually between 2027 and 2030 as major strategic projects progress.
OMV Petrom expects its projects to generate internal rates of return of more than 10%.
The company is targeting Clean CCS EBIT of more than EUR 1.5 billion by 2030, representing an increase of around 50% compared with 2025. It also expects to achieve a Clean CCS ROACE of approximately 15% by 2030.
GHG Reduction Targets
OMV Petrom has maintained its target of reducing absolute Scope 1 and Scope 2 greenhouse gas emissions by 30% by 2030 compared with 2019.
The company has, however, revised its target for reducing Scope 1–3 carbon intensity of energy supply from 20% to 10% by 2030 compared with 2019.
According to OMV Petrom, progress toward its emissions targets will depend on technology readiness, market demand, supportive policies and available funding.
With investments spanning renewable power, battery storage, natural gas, sustainable fuels, green hydrogen and e-mobility, OMV Petrom is expanding its integrated energy portfolio across South-East Europe while progressing with its Strategy 2030 investment programme.
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