OMV Petrom to Invest €2B in Petrobrazi Refinery for Biofuels by 2030

OMV Petrom will invest more than 2 billion euros in the Petrobrazi refinery until 2030, for the production of biofuels, green hydrogen and other low-carbon products, as well as for traditional activity, the company announced on Monday.

“2024 is a special year for the Petrobrazi refinery. We are celebrating 90 years since we set Romania in motion and are preparing for the future of transport. The energy transition means a mix of solutions: traditional fuels, biofuels and electric mobility. And through the investments we are making at Petrobrazi, of 2 billion euros until 2030, we will continue to provide our customers with quality fuels and biofuels,” Radu Căprău, member of the OMV Petrom directorate, responsible for the Refining and Marketing activity said.

OMV Petrom is launching an extensive investment and modernization program on the Petrobrazi platform, which will transform the refinery into a modern industrial unit capable of producing both traditional fuels and next-generation biofuels.

OMV Petrom recently announced the decision to invest around 750 million euros for a sustainable aviation fuel (SAF) and renewable diesel (HVO) production facility and two green hydrogen production facilities. Thus, starting in 2028, the company will be able to supply up to 250,000 tons of biofuels annually.

90 years since the foundation of the Petrobrazi refinery are celebrated this year.