OMV Petrom announces investment budget of 4.4 billion RON, up by 55 percent in 2022

OMV Petrom has announced an investment budget of 4.4 billion RON for 2022, 55 percent higher than in 2021. The company’s shareholders have approved OMV Petrom’s budget for 2022 and the distribution of dividends for the 2021 financial year.

“We have a firm commitment to generate value for all stakeholders, including the Romanian state. At the same time, we are intensifying investments, which are estimated to increase by about 55 percent in 2022, up to 4.4 billion lei. Almost a quarter of this budget represents planned contingent amounts given the possibility of accelerating green energy generation projects,” said Christina Verchere, CEO of OMV Petrom.

The total gross value of dividends to be distributed amounts to 1.9 billion RON. Approximately 400 million lei will be distributed to the Romanian state, which holds, through the Ministry of Energy, 20.6 percent of the share capital of OMV Petrom S.A.

OMV Petrom is the largest energy company in South East Europe, with annual crude oil and gas production at a group level of around 47 million boe in 2021. The group has a refining capacity of 4.5 million tonnes per year and operates an 860 MW high-efficiency power plant. On the retail petroleum products distribution market, the Group is present in Romania and neighboring countries through over 780 gas stations, under two brands, OMV and Petrom.