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OMV Petrom S.A. (PETB)

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Wednesday 05 June, 2019

OMV Petrom S.A.

Petrobrazi coker modernization

RNS Number : 2488B
OMV Petrom S.A.
05 June 2019
 

 

 

 

 

OMV Petrom S.A.

Investor News

June 5, 2019

 

46 million euro investment at Coker unit in Petrobrazi refinery to reduce environmental impact

 

►  The new system completely eliminates emissions of volatile organic compounds from the Coker unit

►  OMV Petrom invested approximately 1.6 billion euro between 2005-2018 in Petrobrazi refinery modernization

 

OMV Petrom continues the modernization works at the Petrobrazi refinery. The company has invested around 46 million euros starting 2017, to upgrade the Coker unit. A closed blowdown system was implemented at this unit, in order to eliminate any potential emissions of volatile organic compounds, thus supporting the reduction of the environmental impact.

"Petrobrazi is one of the most important refineries in Romania, which can cover the annual fuel consumption for approximately 3 million cars. We invested about 1.6 billion euros in the period 2005-2018 in Petrobrazi modernization, to implement the best available technologies at international level, which led to more environmentally friendly activities", said Radu Căprău, member of the OMV Petrom Executive Board responsible for Downstream Oil.

The Coker unit is an important point in the refining process. This is where heavy oil components from the other units are redirected and where the final oil transformation processes take place. The coke obtained here is mainly used in the metallurgical industry.

OMV Petrom has implemented in the Petrobrazi refinery the best available technologies for the recovery of hydrocarbon vapors in the Coker unit. Thus, the 20-year-old system was replaced with a modern, closed blowdown system that ensures complete elimination of volatile organic compounds emissions.

The project involved complex civil works, installment of about 400 tons of pipelines and implementation of automated control and monitoring systems. The project counted more than 450,000 hours worked without incidents.

  

About OMV Petrom

OMV Petrom is the largest energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 58.3 million boe in 2018. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 792 filling stations, at the end of March 2019, under two brands - OMV and Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of 27.8 billion euro in taxes and dividends paid between 2005 and 2018.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007-2018, the company has allocated approximately 52.5 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.

 

Contact:

OMV Petrom Investor Relations

Tel: +40 372 161930, Fax: +40 372 868518

E-mail: [email protected]

                                                                       

 


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