OMV Petrom, the largest energy company in Southeastern Europe, has invested approximately EUR21 million (US$25.46 million) 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 EUR21 million (US$25.46 million) allocated starting 2018, Petrobrazi has increased the blending capacity of bio-content in fuels from 200 kilotons to ~350 kilotons of bio-fuels 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.
Petrobrazi has a total crude oil processing capacity of 4.5 million tons per year and, starting 2005, OMV Petrom has invested approximately EUR1.8 (US$2.18 billion) 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.
Country updates
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