OMV Petrom may announce EUR 10 bln investments by 2030

OMV Petrom announcesthat, on December 7, 2021, the company will publish and present its Strategy 2030. The presentation will be delivered by Christina Verchere, CEO and President of the Executive Board, and Alina Popa, CFO and Member of the Executive Board.

The new strategy reflects the company’s growth plans and its commitment in terms of the energy transition, in the context of climate change, according to a note to investors.

The company may announce the year 2050 as the target for becoming carbon neutral, according to sources familiar with the planning process within the company, quoted by Economica.net.

The strategy involves investments of about EUR 10 bln, to be committed by 2030, the vast majority of money being allocated to projects in Romania. A quarter of the investments will be allocated for completely green energy projects. It is about generating electricity from renewable sources, production of sustainable second-generation biofuel and carbon capture and storage facility. The company has already announced a pilot carbon capture and storage project at the Petrobrazi refinery. The network of car charging stations will also be significantly expanded.

(Photo: Mihai Olaru/ Dreamstime)