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OMV Petrom to invest EUR 750 million in major biofuels plan in Romania

Romanian oil company OMV Petrom (BSE:SNP) has decided to invest approximately EUR 750 million (USD 805 million) in a series of projects to produce sustainable aviation fuel (SAF), renewable diesel (HVO) and green hydrogen at its existing Petrobrazi refinery.

The company said today that it has made the final investment decision to build a EUR 560 million plant with a capacity to produce 250 kt/year of SAF and HVO along with co-products such as bio-naphtha and bio-LPG for the chemical industry.

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In addition, OMV Petrom will build two green hydrogen production plants with a combined capacity of 55 MW at a total cost of approximately €190 million, of which €50 million will be covered by European funds. These two units are expected to produce approximately 8 kt of green hydrogen per year and cover the majority of the hydrogen requirements of the new SAF/HVO plant.

“We are moving forward with our transformation; in addition to our new renewable energy projects, today we have taken a decisive step towards decarbonizing transport in Romania. In total, we’re committing EUR 11 billion until 2030 to transform the company for a low-carbon future, both in Romania and in the region,” said Christina Verchere, CEO of OMV Petrom.

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