OMV’s goal is to transform into an integrated sustainable chemicals, fuels, and energy company. A fundamental part of its strategy is the ambition to become a net zero emissions company by 2050. The Group will carefully balance investments in new areas while optimizing the traditional business operations, recognizing its responsibility to be a reliable supplier. By 2030, OMV expects to increase its operating cash flows to at least EUR 7.5 bn, achieve a ROACE of at least 12%, and grow the distributions to its shareholders.The financial targets for 2030 are based on the following market nominal price assumptions: Brent oil price of USD 80/bbl, THE(Trading Hub Europe) gas price of EUR 25/MWh, refining indicator margin Europe of USD 6.0/bbl, ethylene/propylene indicator margin Europe of EUR 520/t, polyethylene/polypropylene indicator margin Europe of EUR 480/t. “Re-inventing essentials for sustainable living” is OMV’s purpose.
Strategic Cornerstones
OMV plans to transform into an integrated sustainable chemicals, fuels, and energy company, achieving net zero emissions by 2050.
The Group’s approach to the energy transition is centered around running an integrated company with three robust pillars: Chemicals, Fuels & Feedstock, and Energy, delivering returns of at least 12% in the medium to long term. Within these pillars, a strong foundation in traditional business will be maintained while actively pursuing growth opportunities in sustainable sectors. The strong cash flows generated by OMV’s current operations support the growth and transformation. The Group will carefully balance investments in new areas while optimizing the traditional business operations. Its primary objective is to be responsive to changing market dynamics and align with customer expectations. This approach recognizes the need for economic sustainability in its projects and its responsibility to be a reliable energy supplier.
OMV published its Strategy 2030 in March 2022 and held a Capital Markets Day in June 2024 to present an update.
On March 3, 2025, OMV and ADNOC signed a binding agreement to combine Borealis and Borouge into Borouge Group International. Post-closing, OMV will hold 46.9% share in the new entity, Borouge Group International, with equal shareholdings and joint control alongside ADNOC. ADNOC and OMV have also agreed that upon completion of the combination, Borouge Group International will acquire Nova Chemicals for an enterprise value of USD 13.4 bn. The acquisition of Nova Chemicals, a North American-based polyolefin producer and a leader in advanced packaging solutions and proprietary technologies, will further strengthen Borouge Group International’s presence across the Americas and increase its exposure to advantaged feedstock. Borouge Group International will be uniquely positioned to create value and generate superior through-cycle shareholder returns, supported by synergies and a strong pipeline of organic growth projects. These pivotal transactions represent a crucial step toward the implementation of OMV’s Strategy 2030. For more details, see Note 37 – Subsequent events.
Strategic Pillars
- Strengthen, expand, and diversify the chemicals portfolio
- Establish a leading position in renewable and circular economy solutions
- Become a leading European producer of renewable fuels
- Focus on natural gas and low-carbon solutions
To become a net zero emissions company by 2050 (Scopes 1, 2, and 3), OMV has also set interim medium- and long-term targets for 2030 and 2040, with well-defined actions to meet the 2030 targets. OMV is committed to reducing its absolute emissions, aiming to reduce its Scope 1 and 2 emissions by 30% by 2030 and by 60% by 2040, and its Scope 3 emissions by 20% by 2030 and by 50% by 2040 compared to its baseline year of 2019. The Group also aims to reduce the carbon intensity of its energy supply by 15–20% by 2030 and by 50% by 2040 (baseline 2019). The reduction in GHGs is expected to be achieved by increasing zero-carbon energy sales, increasing sustainable base chemicals, polyolefins, feedstocks, and products, and using neutralization measures such as Carbon Capture and Storage, while at the same time decreasing fossil fuel sales. OMV aims to phase out routine flaring and venting entirely by 2030.
In the Chemicals segment, OMV leverages the expertise and technological advancements of Borealis and will focus on expanding its specialty sales volumes, enhancing its portfolio, differentiating in the market, and seizing new opportunities for growth. Specialty products provide a more stable contribution to earnings compared to standard products. OMV will also focus on delivering its ongoing growth projects, Baystar, Kallo, and Borouge 4, and increasing its geographical diversification. These efforts will position the business closer to the competitively priced feedstocks in the US and the Middle East and to major consumer markets in Asia. With these projects, OMV will increase its polyolefin capacity by 30% compared to 2021. The business is set to establish a leading position in renewable and circular economy solutions, targeting up to 1.4 mn t in sustainable sales volumes by 2030. OMV has cost-competitive plants in Europe with high flexibility and a high share of specialty products. However, the Company is actively committed to further improving its position in Europe through an efficiency program.
In Fuels & Feedstock (F&F), OMV aims to become a leading innovative producer of renewable fuels and chemical feedstock with a strong anchor in Europe. The production capacity of renewable fuels and chemical feedstock is envisaged to increase to around 1.5 mn t by 2030. F&F will adapt to changing market demand and reduce its crude oil processing by around 2.5 mn t. Furthermore, to underpin the growth in sustainable chemicals, F&F will increase the western refinery yield for petrochemicals from 17% to around 25% by 2030, and in doing so deepen its integration with the Chemicals segment. In Retail, OMV’s goal is to maintain its position as the preferred choice for customers in the Central and Eastern Europe (CEE) region by expanding the convenience business and developing a leading network of around 5,000 fast and ultra-fast EV charging points. F&Fis committed to maximizing the integrated margin of the traditional fuels throughout the entire value chain, while at the same time adapting to changing market demand and reducing the fossil fuel throughput in refining.
In the Energy segment, OMV invests in both traditional and sustainable businesses, with the overarching goal of delivering resilient free cash flow and continuously reducing emissions. OMV is refocusing its production portfolio in and around Europe with three core regions: North, Central and Eastern Europe (CEE), and South. OMV is maintaining its 2030 production target of 350 kboe/d, continuing to high-grade its portfolio through both organic and inorganic projects. A very special focus is on delivering the Neptun Deep project, the biggest offshore gas project in the European Union, within budget and on time. In the Gas Marketing & Power business, OMV aims to further strengthen and diversify its portfolio in Western Europe and leverage the gas and power business in Romania. OMV is committed to building a profitable low-carbon business, aiming for 7–8 TWh of geothermal energy and renewable power, as well as around 3 mn t p.a. of Carbon Capture and Storage.