“In order to contribute to a cleaner environment, in addition to our efforts for lowering CO2 emissions, we are assessing various sustainable energy projects, including solar, photovoltaics and bio-fuels. In the second half of this year, we will provide a strategy update, including our approach regarding energy transition,” said Christina Verchere, CEO of OMV Petrom, in the opening of the company’s 2020 annual report.
The company has taken steps toward solar power and last year equipped 82 of its 560 gas stations with solar panels.
“In retail, by the end of 2020, OMV Petrom installed photovoltaic panels in 82 filling stations in Romania, so that they can be supplied with green energy and reduce the consumption of conventional energy. By installing photovoltaic panels, more than 10% of the electricity needs of the filling stations is supplied from solar energy. The photovoltaic panels produce more than 30,000 kWh of green energy per year in each filling station,” the report noted.
The company reported a net profit of RON1.28 billion in 2020, down 64% on the year, and sales of RON19.7 billion, down 23%, on lower oil prices and dwindling demand for fuels.
In terms of investments excluding acquisitions, OMV Petrom estimates RON2.9 billion for 2021 and an annual average for 2022-2023 of RON3.8 billion (also excluding development of major strategic projects), most of which will be allocated to Upstream.