Management of Carbon Efficiency of the product portfolio

The OMV Strategy team and subject-matter experts analyzed decarbonization policy developments and stricter emissions standards across the globe and determined that this will lead to the flattening of demand for oil products in the long term. OMV aligns the product portfolio business strategy with such forecasted developments. For example, European demand for natural gas will likely overtake demand for oil in relative and absolute terms by 2030, while regional hydrocarbon extraction is expected to decline. This caused us to focus on preparing the required infrastructure for natural gas delivery and capturing a greater share of natural gas supply.

At the same time, another trend – road transportation decarbonization – led OMV to increase its focus on fuels that function as an alternative to oil and gas. OMV’s Future Mobility team continuously analyzes developments in the alternative transportation sector and develops risk mitigation measures to prepare the Company for a transition to non-hydrocarbon fuels by exploring further development of electromobility and hydrogen.

Sustainability Strategy 2025 target

Reduce the carbon intensity of OMV’s product portfolio1The carbon intensity of OMV’s product portfolio measures the CO2 equivalent emissions generated by the use of OMV’s products sold to third parties in t CO2 equivalent/toe sold. by 4% by 2025 (vs. 2010)

Status 2019

  • Reduction of 4% achieved by 2019 (vs. 2010)

Action plan to achieve the target

SDG 7 – affordable and clean energy (icon) SDG 13 – climate action (icon)
  • Reduce the carbon footprint of OMV’s product portfolio by increasing the gas-to-oil ratio in Upstream production, increasing gas sales in Europe, and shifting to higher-value-added petrochemical products, which in combination with recycling of the plastics used will increase resource efficiency

1 The carbon intensity of OMV’s product portfolio measures the CO2 equivalent emissions generated by the use of OMV’s products sold to third parties in t CO2 equivalent/toe sold.