OMV Petrom invests $24.8M to increase biofuels blending capacity

In Romania, OMV Petrom, the largest energy company in Southeastern Europe, invested approximately $24.8 million (EUR 21 million) at Petrobrazi refinery in order to increase the bio-blending capacity and improve 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 EUR 21 mn 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.

“We are an energy company and we want to be part of the solution for a cleaner energy. We are investing in obtaining fuels with a high level of biofuel content, as well as in alternative solutions for mobility and in various others sustainable projects. It is a combined effort at all levels across our company, as we aim to reduce our carbon emissions by 27% by 2025 versus 2010”, said Radu Căprău, member of OMV Petrom Executive Board, responsible for Downstream Oil.