Capitalizing on the strength of its integrated business model, the OMV Strategy 2030 – introduced in 2022 – marked the beginning of OMV’s transformation journey. Driven by a focus on value creation and financial resilience, the Company has been making solid progress in execution. Looking ahead, the strategic directions are clear and unchanged. OMV remains committed to transforming and growing into an integrated sustainable energy, fuels, and chemicals company, leading an agile transformation that aligns with customer expectations and positions OMV for long-term resilience in a rapidly changing energy landscape. This approach is increasing focus and efficiency, de-risking the transformation while ensuring strong financial performance.
OMV is maintaining a strong foundation in its traditional business while pursuing growth opportunities in sustainable sectors. The energy transition continues to gain momentum, however at a slower pace than previously anticipated. As a reliable supplier, OMV is driving a responsible, demand-led transformation, while investing in future technologies at pace and aligning the investments in sustainable business with market developments.
The strategy is built on three robust pillars:
- Grow gas and selectively advance renewables
- Strengthen profitable fuels business while capturing opportunities in sustainable mobility
- Accelerate chemical growth through Borouge Group International (BGI), feedstock integration, and driving circular innovation
In the Energy segment, OMV is increasing investments in exploration and production while selectively advancing renewables, with the overarching goal of delivering strong and reliable cash flows. Gas represents a key growth engine for OMV, with longer and robust demand anticipated. Natural gas will continue to play a pivotal role in Europe’s energy landscape for the long term, acting as a key enabler of the energy transition. OMV’s established asset footprint in Central and Eastern Europe, the Norwegian continental shelf, and North Africa puts the Company in a competitive position to benefit from this opportunity and further grow its footprint. By 2030, OMV is aiming to achieve total oil and gas production of around 400 kboe/d. One of the most transformative projects in the pipeline is Neptun Deep, a project in the development phase that is a crucial element in OMV’s strategy. In the Gas Marketing & Power business, OMV aims to unlock significant value by expanding trading and sales in Europe, while OMV Petrom also aspires to become a leading power market player in Southeast Europe, targeting more than 2.4 TWh (net to OMV Petrom) of renewable power by 2030. In geothermal energy, OMV continues to invest in projects in Austria while testing the closed-loop technology to prove its commercial viability. The focus remains on advancing and maturing the solution to ensure technological readiness and long-term viability.
In the Fuels segment, OMV is focused on maximizing integrated margins across the entire value chain and deepening chemical integration. By enhancing cost and margin efficiencies and capitalizing on emerging opportunities in renewable fuels, chemical feedstocks, and sustainable mobility, OMV is proactively adapting to evolving consumer preferences and regulatory requirements. Here, the ambition is to reach an annual production capacity of around 900,000 t of renewable fuels and chemical feedstock and install around 5,000 high-performance charging points for electric vehicles by 2030. In addition, in the Retail business, OMV is continuing its profitable growth with a focus on both premium fuels and the non-fuel business.
In the Chemicals segment, OMV is well positioned for growth via Borouge Group International (BGI). In its operated assets, OMV aims to maximize utilization while leveraging technology and innovation for circular chemicals. On March 3, 2025, OMV and ADNOC signed a binding agreement to combine Borealis and Borouge into BGI. The formation of BGI represents an acceleration of OMV’s growth strategy in the Chemicals segment, delivering scale, synergies, capital efficiency, and shareholder value, and it fully supports its transformation and transition to a sustainable future. The new company will capitalize on long-term global polyolefin demand growth (to exceed the global GDP growth) and will benefit from geographical diversification, access to low-cost feedstock, and an innovative and differentiated product portfolio. Upon completion, BGI will acquire NOVA Chemicals, a North American polyolefin producer and leader in advanced packaging solutions with advantaged feedstock access and proprietary technologies, a move that will further expand its footprint in North America.
Sustainability remains a pillar of OMV’s Strategy 2030. The Company has set interim targets for 2030 and 2040, aiming to reduce absolute Scope 1 and 2 emissions by 30% by 2030 and 60% by 2040, and absolute Scope 3 emissions by 20% by 2030 and 50% by 2040, all compared to 2019 levels. OMV also aims to reduce the carbon intensity of its energy supply by 10% by 2030 and by 25% by 2040. The Company is committed to achieving zero routine flaring and venting by 2030, as well as to reducing methane emissions to below 0.1% by 2030. All these reductions will be achieved by leveraging technology and innovation across the entire value chain.
With its Strategy 2030, OMV remains committed to delivering sustainable growth, financial strength, and long-term value for shareholders, while navigating the evolving energy landscape.