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

GO HYDROGEN
ABN AMRO invests in Hy24’s clean hydrogen equipment fund
ABN AMRO invests in the Clean Hydrogen Equipment Fund.
GO HYDROGEN
Iberdrola and Masdar sign global alliance to co-invest up to €15 billion in offshore wind and green hydrogen projects
Iberdrola and Masdar announced a strategic partnership agreement to development of offshore wind and green hydrogen projects in key markets.
GO HYDROGEN
Belgian DEME to invest $3bn in green hydrogen project in Jarjoub port
The Egyptian Cabinet and Deme collaborated to launch green hydrogen project in the port of Jargoub.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
OMV Petrom signed a gas purchase contract with BOTAŞ (Türkiye)
OMV Petrom signed a contract for the purchase of natural gas with BOTAŞ.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
Kazakhstan and Uzbekistan strengthen trade and investment cooperation
Kazakhstan and Uzbekistan discuss the possibilities of bilateral relationship development.
GO DIGITAL ENERGY
Siemens to invest €1 billion and create blueprint for industrial metaverse in Germany
Siemens is planning to centre its global technology for the industrial metaverse.