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 ceased importing Russian crude oil

BLACK SEA
OIL & GAS

OMV Petrom ceased importing Russian crude oil

OMV Petrom, the largest energy company in Romania, no longer buys crude oil from Russia for consumption at the Romanian refinery, company officials told Economica.net. - Romania-Insider

Even if it is going to be more expensive, OMV Petrom will seek to buy crude oil from other sources.

By its decision, OMV Petrom follows a trend of an informal ban on Russian oil that will probably soon become formal in Europe - after such a ban was enacted in the United States, United Kingdom, Canada and Australia. While sanctions on Russian natural gas are unlikely at this point because of the economic damage they would cause, Europe could better withstand an embargo on Russian oil.

We have chosen not to process crude oil from Russia. We bring non-Russian crude oil, it may originate from ex-Soviet republics - but not Russia. We also look to North or West Africa [for oil supplies]. We also have the offer of crude oil from Kazakhstan on the table. But all purchases are made through our London office (OMV Trading), which looks at all options for purchases.

Radu Căprău, a member of Petrom's management responsible for refining and marketing

Russian oil would have been delivered at a discount, but we are not buying. It is our way of sanctioning Russia. It was our decision and that of the OMV group, they are going in the same direction as well. 

the official explained

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.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
World's dirtiest oil and gas fields are in Russia, Turkmenistan and Texas
Oil and natural gas fields in Russia, Turkmenistan and Texas are the most climate-damaging on Earth.
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
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.
BLACK SEA
OIL & GAS
OMV Petrom welcomes 'Much-needed' changes to Romania's offshore gas law
OMV Petrom welcomed changes to an offshore gas tax law filed by the government.