We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

OMV Petrom announces investment budget of 4.4 billion RON, up by 55 percent in 2022

BLACK SEA
OIL & GAS

OMV Petrom announces investment budget of 4.4 billion RON, up by 55 percent in 2022

OMV Petrom has announced an investment budget of 4.4 billion RON for 2022, 55 percent higher than in 2021. The company’s shareholders have approved OMV Petrom’s budget for 2022 and the distribution of dividends for the 2021 financial year. - TheDiplomat

We have a firm commitment to generate value for all stakeholders, including the Romanian state. At the same time, we are intensifying investments, which are estimated to increase by about 55 percent in 2022, up to 4.4 billion lei. Almost a quarter of this budget represents planned contingent amounts given the possibility of accelerating green energy generation projects.

Christina Verchere, CEO of OMV Petrom

The total gross value of dividends to be distributed amounts to 1.9 billion RON. Approximately 400 million lei will be distributed to the Romanian state, which holds, through the Ministry of Energy, 20.6 percent of the share capital of OMV Petrom S.A.

OMV Petrom is the largest energy company in South East Europe, with annual crude oil and gas production at a group level of around 47 million boe in 2021. The group has a refining capacity of 4.5 million tonnes per year and operates an 860 MW high-efficiency power plant. On the retail petroleum products distribution market, the Group is present in Romania and neighboring countries through over 780 gas stations, under two brands, OMV and Petrom.

Relevant news

BLACK SEA
OIL & GAS
OMV Petrom reports wide refining margin on top of high crude oil price in Q2
OMV Petrom reported a crude oil production of 57.5 thousand barrels per day.
BLACK SEA
OIL & GAS
OMV Petrom launches the sustainability report for 2021: 11 million Euro on social projects
OMV Petrom, has published the Sustainability Report for 2021.
GO NET ZERO ENERGY
OMV Petrom starts the production of sustainable aviation fuel
OMV Petrom, announced that it would produce sustainable aviation fuel at the Petrobrazi refinery.
BLACK SEA
OIL & GAS
Romania's Romgaz completes 31 mln lei (6.3 mln euro) investment in Snagov onshore project
Romgaz Group said that it completed a 31 million lei investment in the Snagov onshore project.
GO HYDROGEN
GH2 launches green hydrogen standard to halt global emissions, spur investment
Green Hydrogen Organization launched the green hydrogen standard.
BLACK SEA
OIL & GAS
Romania calls for more investments in gas infrastructure
Romania has already identified alternative sources and routes for natural gas.