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Strategic Cornerstones

OMV will transform from an integrated oil, gas, and chemicals company into a leader in innovative sustainable fuels, chemicals, and materials, leveraging opportunities in the circular economy. An integral part of the Group’s strategy is its ambition to become a net-zero emissions company by 2050 for Scope 1, 2, and 3 emissions. In view of the ongoing transformation in the energy industry and a global goal of net-zero emissions, OMV builds on its strengths and seizes opportunities to position itself competitively.

2030 strategic priorities

  • Become a net-zero emissions company by 2050; reduce Scope 1 and 2 emissions by 30% and Scope 3 emissions by 20% by 2030
  • Develop into a global leader in specialty polyolefin solutions
  • Establish a global leadership position in circular economy solutions
  • Become a leading European producer of sustainable fuels and chemical feedstocks
  • Reduce fossil production and shift to gas
  • Enhance OMV’s shareholder value: deliver growth with strong financials and continue the progressive dividend policy

The Chemicals & Materials business will be the core growth engine of the Group. OMV aims to become a global leader in specialty polyolefin solutions, with a significantly stronger position in the Middle East, Asia, and North America. The Group will strengthen its existing polyolefins business, while also building a strong and diversified chemicals and materials portfolio, by expanding into adjacent businesses and new product groups. To achieve this, OMV will target investments and initiatives that improve its returns and carbon footprint. Moreover, OMV will expand its geographical reach, pursuing high-growth markets, such as Asia and North America. This will be achieved through in-market investments and partnerships based on differentiated technologies and application portfolios. Furthermore, the Company will diversify its presence beyond polyolefins by entering into specialty chemicals and materials to build leadership positions.

An important pillar of OMV’s strategy is the ambition to become a leader in renewable and circular chemicals and materials. The Group will capture the potential of emerging renewable and circular markets by leveraging its integrated technology platform and end-to-end position to develop innovative products and new business models. The circular economy is crucial for a long-term sustainable chemical business. Thus, a transformation toward an economically viable commercial scale is needed. In this context, the Group’s target is to deliver around 2 mn of sustainable products by 2030.

OMV also aims to become a leading, innovative producer of sustainable fuels and chemical feedstocks. As a result, the Western European refineries will reduce their crude distillation throughput by 2.6 mn t and shift to an increased chemical feedstock share of 24% by 2030. The plan is to increase production of renewable fuels and sustainable feedstocks to approximately 1.5 mn t instead. In Marketing, OMV aims to become the first choice of our customers for energy, mobility and convenience, focusing on the sale of sustainable aviation fuels, building an EV recharging network, and growing its non-fuel retail business.

In the Exploration & Production business, OMV is focusing on maximizing the value and harvesting cash. E&P will reduce gradually its fossil production to below 400  by 2030, with an overweight on gas. In the same time, OMV will make significant investments into the low-carbon solutions, namely in around 10  renewable energy (e.g., geothermal) and around 5 m t p.a. of capacity by 2030 to reduce its GHG footprint. The E&P business will act as a cash engine for the Group and will support the transformation.

The gas sales and logistics business excluding OMV Petrom will be consolidated in the E&P business starting 2022. Toward the end of the decade, equity gas contribution to the Gas Sales business portfolio will decrease due to natural fields decline, and will be predominantly replaced by primarily traded green gas products in order to reduce the carbon intensity of the product portfolio.

OMV is committed to becoming a net-zero emissions company by 2050 (Scopes 1, 2, and 3) and has set interim targets for 2030 and 2040, with well-defined actions to meet the targets by 2030. By 2030, OMV aims to reduce its Scope 1 and 2 emissions by 30% and its Scope 3 emissions by 20%. The Group also aims to reduce its intensity in energy supply by 20% by 2030. This will be achieved by decreasing fossil fuel sales, increasing zero-carbon energy sales, increasing polyolefins recycling and sustainable feedstocks and products, as well as using neutralization measures such as CCS.

This path will enable OMV to deliver operating cash flow excluding net working capital effects of around EUR 6 bn by 2025 and at least EUR 7 bn by 2030, a of at least 12% in the mid- and long term, and continuation of its progressive dividend policy. These are supported by sound capital allocation priorities and a strong balance sheet, with a mid/long-term of below 30%.

Building on its current strengths and a vision of leadership in technology and innovation, OMV will be well positioned to thrive sustainably in a world with low GHG emissions. This strategy enhances OMV’s shareholder value, as its transformation path allows for a sustainable growth business model, showing the Group’s commitment to cutting GHG emissions, delivering strong financials, and maintaining its progressive dividend policy.

Metric ton
Chemicals & Materials business segment
Thousand barrels of oil equivalent per day
Terawatt hour
CCS/CCS effects/inventory holding gains/(losses)
Current Cost of Supply; inventory holding gains and losses represent the difference between the cost of sales calculated using the current cost of supply and the cost of sales calculated using the weighted average method after adjusting for any changes in valuation allowances in case the net realizable value of the inventory is lower than its cost. In volatile energy markets, measurement of the costs of petroleum products sold based on historical values (e.g., weighted average cost) can have distorting effects on reported results (Operating Result, net income, etc.). The amount disclosed as CCS effect represents the difference between the charge to the income statement for inventory on a weighted average basis (adjusted for the change in valuation allowances related to net realizable value) and the charge based on the current cost of supply. The current cost of supply is calculated monthly using data from supply and production systems at the Refining & Marketing level.
Return On Average Capital Employed; NOPAT divided by average capital employed expressed as a percentage
leverage ratio
Net debt divided by capital employed, expressed as a percentage