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OMV Petrom investment increases Petrobrazi refinery bio-blending capacity

November 20/2020

MOSCOW (MRC) -- OMV Petrom, the largest energy company in Southeastern Europe, has invested approximately EUR21 million at the Petrobrazi refinery in order to increase the bio-blending capacity and to improve the infrastructure for the transport, unloading and storage of bio-components within the refinery, according to Hydrocarbonprocessing.

OMV Petrom supplies fuels with a volumetric bio-content of 6.5% in diesel and 8% in gasoline.

Following investments of approximately EUR21 million allocated, starting in 2018, Petrobrazi has increased the blending capacity of bio-content in fuels from 200,000 t to ~350,000 tpy of biofuels.

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 Caprau, member of OMV Petrom executive board, responsible for Downstream Oil.

Petrobrazi has a total crude oil processing capacity of 4.5 MMtpy and, starting 2005, OMV Petrom has invested approximately EUR1.8 billion in the refinery. One third of this investment contributed to the reduction of the environmental impact. Through sustained investments, OMV Petrom has reduced the carbon emissions of its operations by 22% in 2019 vs. 2010. OMV Petrom is one of the first companies in Romania to sign the UN Global Compact, since 2013.

As MRC reported earlier, on 12 March, 2020, Austrias OMV OMV, the international integrated gas and oil company headquartered in Vienna, and Mubadala Investment Company, the Abu Dhabi-based strategic investment company, signed an agreement that will give OMV a controlling stake in Borealis, one of Europes leading petrochemical companies. OMV, which currently owns a 36% stake in Borealis, will acquire an additional 39% from Mubadala, increasing its stake to 75%. Mubadala will retain a 25% interest.

And in late October, 2020, OMV and Mubadala Investment Company completed the transaction for OMV to acquire an additional 39% stake in Borealis from Mubadala.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

ccording to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.

Romanian group OMV Petrom has become part of Austrian company OMV since 2004.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PP, PE, crude and gaz condensate, PP random copolymer, propylene, HDPE, ethylene, petrochemistry, Borealis, OMV, Russia.
Category:General News
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