OMV Petrom developed at Petrobrazi refinery a new marine fuel oil that supports the shipping industry in reducing sulfur emissions.

OMV Petrom, the largest energy company in South-Eastern Europe, developed at the Petrobrazi refinery a new marine fuel oil with low sulfur content of up to 0.5%. This product is unique to the Romanian market. The fuel allows shippers to reduce sulfur emissions and to be compliant with the International Maritime Organization (IMO) 2020 regulations. The first delivery took place in Port Constanța, at the end of the last year.

The process of obtaining low-sulfur marine fuel oil was possible with a EUR 3 million investment in the production logistics facilities at the Petrobrazi refinery. The implementation of the project took almost two years. By the end of last year, shipping carriers used heavy fuel oil with a sulfur content of 3.5%. The new marine fuel oil obtained at the Petrobrazi refinery has only up to 0.5% sulfur content, in line with the IMO global sulfur limit applicable to the shipping industry starting from this year.

Up until the launch of this product, the Romanian market was supplied exclusively by import. From now on, at Petrobrazi refinery, at least 70Kt of marine fuel oil with low sulfur content can be produced annually, subject to production optimization to meet demand and maximize value added.

OMV Petrom supports the maritime transport industry with a sustainable solution, both economically, as well as from the perspective of environmental protection. According to IMO, by limiting the sulfur content in ships’ fuel oil to 0.5%, an annual 77% drop in sulfur emissions can be achieved, which means 8.5 million metric tons of sulfur per year globally. This has a positive impact on the quality of life in the communities of the port and coastal cities.

About OMV Petrom

OMV Petrom is the largest integrated oil and gas group in South-Eastern Europe, with an annual oil and gas production of approximately 65 mn boe in 2015. The Group has a refining capacity of 4.5 mn tons / year and operates an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighboring countries through approximately 800 filling stations as of end of 2015.

OMV, one of Austria's largest listed industrial companies, holds a 51.01% share in OMV Petrom. The Romanian state, via the Ministry of Energy, Small and Medium Enterprises and Business Environment, holds 20.64% of OMV Petrom shares, Fondul Proprietatea (Restitution Funds) holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.

According to European Commission data, 90% of the European Union`s external trade in goods is maritime and over 400 million passengers transit trough the European ports, annually.