• OMV aims to become a leading, integrated sustainable fuels, chemicals and materials company with a strong focus on circular economy solutions
• Net-zero (Scope 1, 2 and 3) to be reached by no later than 2050
• Shift towards low-carbon business; stop oil & gas production for energy by 2050 
• Focus on European sustainable fuels leadership
• Expansion and diversification of Chemicals & Materials business
• Russia no longer a core region with no future investments pursued
• Clean CCS Operating Result of at least EUR 6 bn by 2030 and Operating Cash Flow of at least EUR 7 bn by 2030
• Mid- to long-term target ROACE at or above 12%
• Progressive dividend policy confirmed

OMV has presented its Strategy 2030. The firm has set out to transform itself into a sustainable fuels, chemicals, and materials company with a strong focus on circular economy solutions.

Based on this new strategy representing the most fundamental strategic shift in the company’s history, OMV aims to become a net-zero emissions company by no later than 2050. The business segment Chemicals & Materials will be the growth engine of the company. It is to be substantially strengthened, expanded, and diversified, with the aim to establish a globally leading position in circular economy solutions. The Refining & Marketing business is to become a leading European provider of sustainable fuels, feedstock, and mobility solutions. In line with the ambition to become a net-zero company, OMV will reduce its oil and gas production by around 20% by 2030 and will completely cease oil and gas production for energy use by 2050. At the same time Exploration & Production business segment will invest in geothermal energy and carbon capture and storage (CCS) leveraging existing assets and capabilities and contribute to a more sustainable society.

Alfred Stern, OMV CEO and Chairman of the Executive Board, 
"If we want to maintain and expand living standards around the world while ensuring the survival of our society, we must move to a more sustainable way of doing business. For this reason, OMV will re-invent essentials for sustainable living."

KeyFacts Energy: OMV Austria country profile

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