Our Strategy
The most significant transformation in our company’s history is underway.
With our Strategy 2030 we strive to become an integrated sustainable chemicals, fuels and energy company — rooted in our firm commitment to achieving net-zero emissions by 2050.
Strategy 2030 is about value creation with sustainability at its core. To guide our journey, we have set ambitious interim goals:
- a 30 percent reduction in absolute greenhouse emissions Scope 1 and 2 by 2030,
- and a 20 percent reduction in Scope 3 emissions by 2030, relative to our 2019 levels.
We’re moving forward for good
The implementation of Strategy 2030 is advancing well, with milestones reached across all our business segments. In the past two years, we have launched a range of innovative projects that embody our purpose of re-inventing essentials for sustainable living.
Our approach is methodical and grounded in what is achievable, building upon our core competencies while keeping an eye on the broader vision for 2030. This means responsibly using the cash flows from our core businesses to support and grow our sustainable ventures, signaling our future direction.
We’ll also reduce our traditional production over time, ensuring that we can continue to meet our customers’ needs while also moving towards our overall sustainability goals. Additionally, we are expanding our chemicals business and are optimistic about the potential of our specialty products. OMV Petrom is to develop into an energy transition leader for Romania and southeastern Europe.
Lighthouse Projects
Discover the lighthouse projects that are illuminating our path to a sustainable future.
Geothermal energy
Geothermal energy taps into the earth's internal heat to produce heat and power. Through our joint venture “deeep” with Wien Energie, we are exploring and developing this sustainable energy source. Our first project aims to harness the geothermal potential of the Vienna Basin to supply climate neutral district heating to up to 200,000 households, delivering as much as 200 megawatts of energy. Bringing together our expertise in geophysics and drilling with Wien Energie's extensive experience in running one of Europe’s largest district heating networks, the project is an example for innovation in the energy sector.
Circular chemicals
The circular economy aims to minimize both waste and carbon emissions by maximizing the value of resources already in circulation. This approach is at the heart of our circular chemicals project, which focuses on recycling plastic waste into valuable secondary raw materials, helping to reduce our reliance on fossil resources.
Europe’s largest plastic sorting plant
In partnership with our joint venture partner Interzero, we are building Europe's largest sorting plant for mixed plastic waste in Walldürn, Germany. The plant, set to open in 2026, will process used plastics that would otherwise end up in landfills or incineration plants. The sorted materials will be converted into high-quality secondary raw materials using our patented ReOil® chemical recycling technology.
ReOil® plant expansion
Our proprietary ReOil® chemical recycling technology transforms end-of-life plastic into circular solutions. This process allows us to reclaim the value of plastics otherwise destined for landfill or incineration. The resulting pyrolysis oil serves as a raw material for producing new, high-quality plastics.
Our ReOil pilot plant has been up and running at the Schwechat refinery since 2018, accumulating over 29,000 cracking hours. We are currently expanding this technology with a new ReOil plant capable of processing 16,000 metric tons of plastics annually. The plant is mechanically complete and is currently in a phased start-up process.
Sustainable aviation fuel
Sustainable aviation fuel (SAF) is a renewable alternative to conventional kerosene fuel that creates more than 80 percent less carbon emissions over its lifecycle. At our Schwechat refinery, we produce around 4,000 metric tons of SAF every year from used cooking oil. This volume supports hundreds of flights – the equivalent of 800 to 1,000 flights from Vienna to London – significantly reducing CO2 emissions. With demand from airlines steadily increasing and the EU’s ReFuelEU Aviation Regulation now requiring 2 percent SAF blending—set to rise to 70 percent by 2050—we are preparing to expand our production capacity on a large scale.