Strategic Priorities
- Become a leading innovative producer of renewable fuels and chemical feedstock with a strong anchor in Europe (production capacity of approx. 1.5 mn t renewable fuels and chemical feedstock)
- Deepen integration with Chemicals (approx. 25%) while leveraging low-carbon solutions from Energy
- Be the first mobility choice for retail customers; develop a leading EV charging network and grow the convenience business (approx. 5,000 fast and ultra-fast EV charging points)
- Maximize the integrated margin of traditional fuels throughout the value chain
- Adapt to changing market demand and reduce fossil fuel throughput in refining (approx. 2.5 mn t lower crude oil processing vs. 2019)
Going forward, F&F will reshape its product portfolio, building on renewable mobility fuels and sustainable chemical feedstocks. The Company is focusing on safe, innovative, and economically sustainable operations. As a result, F&F will enable the transformation to low-carbon operations and sales while maintaining strong profitability.
The European fossil fuel refining market potential is expected to decrease by 2030, as both volumes and refining margins are forecast to be under pressure in light of the energy transition in Europe. In the same time horizon, demand for renewable mobility fuels and sustainable chemical feedstocks is expected to grow. To leverage the opportunities of the energy transition, OMV is developing a production portfolio for renewable fuels and sustainable chemical feedstocks, aiming to reach approximately 1.5 mn t by 2030.
In order to reach this target, OMV has ongoing projects and is planning further investments:
- Successful start-up of a co-processing plant in Austria with a production capacity of 135 kt p.a.
- Final Investment Decisions taken in Romania in June 2024 for a SAF/HVO plant with a production capacity of 250 kt p.a. and green hydrogen
- Exploring plans for total capacities in Germany and Austria of around 300–400 kt and a plant in Kallo, Belgium with a capacity of around 300 kt
Moreover, OMV is assessing potential locations for additional SAF/HVO capacities in Europe and internationally, in markets such as the United States, the Middle East, and Asia. This would support the Group in partnering with international customers and taking advantage of access to global feedstocks.
OMV has a wide range of initiatives to ensure adequate feedstock for the renewable fuel projects in a time of growing competition. Prior to taking the FID for projects, the Company ensures the availability of long-term supply contracts for feedstock. As an example, OMV has secured feedstock to meet more than 80% of the Petrobrazi SAF/HVO plant’s requirements. Moreover, OMV is very active in looking for opportunities for backward integration. For example, OMV Petrom acquired a 50% share in Respira Verde, a leading company in the collection of used cooking oil in Romania. OMV has also established an international origination team in Singapore and is strengthening its renewable materials trading activities in London. The focus in synthetic fuels is on e-methanol produced from bio and waste CO2 and green hydrogen. The Company is currently building its own electrolyzers in Austria and Romania.
F&F will decrease crude oil distillation throughput in the Schwechat and Burghausen refineries from 12.9 mn t in 2019 to approximately 10.3 mn t by 2030, in line with estimated changing demand patterns. This adaptation will significantly reduce heating oil and diesel product output by 2030, while increasing the chemical yield to around 25% for the western refineries.
OMV will optimize the interface between oil and chemicals, with a focus on the integrated Schwechat and Burghausen sites, by reconfiguring plants and sites to maximize high-value fossil fuel resources, and with a growing share of sustainable feedstocks for chemicals production. OMV will continue to operate its three European refineries in Austria, Germany, and Romania as an integrated system, optimizing asset utilization and maximizing margins. Furthermore, the Company is implementing energy and operational efficiency measures within the existing refinery assets to maintain a leading cost position in Europe.
OMV aims to enhance the commercial performance of its international, non-operated refining positions in the UAE (ADNOC Refining) and Pakistan (PARCO). In the short to medium term, the focus will be on achieving operational excellence and fostering a performance-driven culture at each asset. In the medium to long term, OMV will explore commercial opportunities for producing sustainable mobility fuels and chemical feedstocks.
In Retail, OMV intends to further develop existing market potential by significantly growing the non-fuel business sector (+70% vs. 2021). New gastronomy and service concepts, as well as cooperation in the food logistics sector, are expected to significantly increase the volume and margin of the non-fuel business by 2030. In parallel, the Company will further increase its premium fuel share as a differentiator and significant margin generator by 2030. OMV will expand into e-mobility, building a leading position in out-of-home electric vehicle (EV) charging locations such as highway and transit refilling stations, as well as convenience hubs. The Group is committed to increasing its number of high-performance charging points from 804 (as of December 2024) to 5,000 by 2030. OMV has also taken the first steps in developing a network of EV chargers for heavy-duty vehicles.
Total organic investments in F&F will average EUR 1.0 bn p.a. in 2024–2030, which represents around 25% of the Group’s organic CAPEX. Out of this, around 60% will be allocated to sustainable projects. By 2030, the clean CCS Operating Result of F&F is expected to increase to EUR 1–1.3 bn, while the cash flow from operations is anticipated to grow to more than EUR 1.5 bn.