The most important oil and gas producer in the Southeastern Europe, OMV Petrom, continues the series of investments in the Petrobrazi Refinery. EUR 1.7 million have been allocated to expand the railroad inside the refinery, the section being inaugurated at the half of July, 2017.
After the inauguration last month of a modern fuel quality analysis center, OMV Petrom announced new investments at Petrobrazi Refinery. According to a press release issued by OMV Petrom, on July 14, 2017, a new 1.4 km railroad section was opened inside the Petrobrazi refinery. The total length of the railroads inside the refinery has reached nearly 50 km, modernized over the past 10 years by investing more than EUR 50 million. Continuing to modernize the railroad section was necessary, given that the company uses this kind of transport for an important part of the fuel production at the Petrobrazi Refinery. Fuels are loaded into tank wagons inside the refinery, and the refinery’s railroad connects with the public rail transport network. After being transported to the company’s warehouses in the country, the fuels are later distributed to gas stations.
The new railroad section has the role of interconnecting other four existing lines. According to the company, more than 50,000 wagons with oil products are loaded in the refinery every year.
The Petrobrazi Refinery is located in the south-east of Romania, near Ploiesti, in Prahova County. From the data made public by the company, the refinery is connected to a complex pipeline infrastructure, which allows the transport of both domestic oil from the OMV Petrom fields and crude oil imported through the Constanta port. After privatization (2005-2015), investments in Petrobrazi amounted about EUR 1.2 billion. The most recent modernization program, which took place between 2010 and 2014 and consisted of investments of approximately EUR 600 million, mainly aimed to increase the refinery’s competitiveness. With a capacity of 4.5 million tons annually, Petrobrazi can process the entire oil production of OMV Petrom in Romania.
OMV Petrom is the largest oil and gas producer in the Southeastern Europe, with an annual oil and gas production of about 64 million boe in 2016. In Romania, OMV Petrom is the main oil producer and supplies about a half of the domestic gas production. The company is present on the petroleum products distribution market in Romania, Republic of Moldova, Bulgaria and Serbia through a network of about 800 stations operated under two brands, Petrom and OMV. OMV Petrom is the largest integrated oil and gas company, operating in the Upstream, Downstream Oil and Downstream Gas sectors. Last year, the group’s turnover was RON 16.247 million, while EBIT (Earnings Before Interest and Taxes) was RON 1.469 million.