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Refining & Marketing

2030 strategic priorities

  • Reduce crude distillation throughput by 2.6 mn while growing the production of renewable mobility fuels and sustainable chemical feedstocks to approximately 1.5 mn t
  • Produce and market at least 700,000 t of sustainable aviation fuels
  • Invest in a EV charging network and significantly increase margin contribution from Retail non-fuel business
  • Significantly reduce absolute Scope 1, 2, and 3 emissions

Going forward, is reshaping its product portfolio, building on renewable mobility fuels and sustainable chemical feedstocks. The company is focusing on safe, innovative, and ecologically and economically sustainable operations. As a result, R&M will enable transformation to low-carbon operations and sales while maintaining strong profitability.

European fossil refining market potential will decrease significantly up to 2030, as both volumes and refining margins are expected to be under pressure driven by the pace of the energy transition in Europe. In the same time horizon, strong growth will materialize for renewable mobility fuels as well as sustainable chemical feedstocks. Refining will proactively decrease crude oil distillation throughput in the Schwechat and Burghausen refineries, from 12.9 mn t in 2019 to approximately 10.3 mn t in 2030, in line with changing demand patterns. This adaptation will significantly reduce heating oil and diesel product output by 2030, while increasing the chemical yield to around 24% for the Western refineries. To leverage the opportunities of the ongoing energy transition, the refining division is developing a sustainable production portfolio for renewable fuels and sustainable chemical feedstocks, such as the co-processing of biogenic feedstocks in Schwechat, reaching approximately 1.5 mn t in total by 2030. In this context, the sourcing of bio-feedstocks will be a critical success factor.

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 resources and a growing share of sustainable feedstocks for chemicals production. OMV will continue to operate its three European refineries in Austria, Germany, and Romania as one 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’s goal with its international, non-operated refining positions in (ADNOC Refining) and Pakistan (PARCO) is to improve their commercial performance. The focus in the short to mid-term will be on operational excellence as well as performance culture at each asset. In the mid- to long-term, OMV will evaluate commercial options for the production of sustainable mobility fuels and assess strategic options for capital reallocation.

The Marketing & Trading activities in Europe secure OMV’s customer and market access. In line with changing demand patterns, as well as regulatory obligations, OMV will gradually transform its product portfolio to include more sustainable fuels and services by 2030, thereby increasing the resilience of its product mix. OMV will build a growing business for sustainable aviation fuels (SAF) in central Europe by establishing new market positions in the vicinity of planned production sites, such as in Belgium and in Romania. OMV Marketing & Trading will market at least 700,000 tons of SAF by 2030. OMV will aim to grow SAF sales volumes significantly beyond the planned regulatory framework and will target the growing voluntary compliance market. Simultaneously, Marketing & Trading will sustain its position of bitumen and marine fuel oil to safeguard refinery utilization, while continuing to evolve these products to lower GHG emissions.

In Retail Mobility & Convenience, OMV intends to further develop existing market potential by significantly growing the non-fuel business sector. 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 to more than 30% as a differentiator and significant margin generator by 2030. OMV Retail Mobility & Convenience 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. With a total investment in this segment of more than EUR 400 mn by 2030, OMV will grow the profitability of the retail business as well as monetize the value of its assets.

Total organic investments in the R&M business will average at EUR 1 bn p.a. in 2022–2030, EUR 0.5 bn p.a. of which will be allocated to sustainable and carbon emissions reduction projects.

With this new strategy, OMV will accelerate attainment of its goal of lowering GHG emissions by reducing fossil fuels, stepping up the production and marketing of renewable fuels and sustainable chemical feedstocks, as well as implementing energy efficiency measures.

t
Metric ton
R&M
Refining & Marketing business segment
UAE
United Arab Emirates