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Published September 21, 2023

OMV Petrom continues to support dual education in Romania with over RON 1.5 million in 2023

  • Approximately 100 students receive scholarships worth up to RON 700 during their studies
  •  In the last seven years, OMV Petrom supported projects in the field of professional education with RON 17.5 million

OMV Petrom, the largest integrated energy company in South-Eastern Europe, continues to support professional education in Romania, through the Oilmen School and Petrochemical School projects. The company allocated RON 1.5 million in 2023 to train new generations of energy professionals. Approximately 100 students will benefit from individual scholarships between RON 500 and 700 per month, updated course materials and internships within the OMV Petrom company.

Cristian Hubati, member of the Directorate, responsible for the Exploration and Production activity of OMV Petrom: "Energy is essential for modern life, and we are dedicated to the mission of continuing to provide energy, in all its forms. To meet this mission, we need young professionals who master the most modern technologies of today and, especially, those of tomorrow. We are happy to see that every year we have dozens of graduates from the Oilmen School who carry on the tradition of this vital sector of the economy. So far, almost a third of the graduates have become our colleagues at OMV Petrom".

Diana Negulescu, OMV Petrom employee, former student of the Oilmen School: "I was inspired by the experience of my grandfather, who was a driller, to choose the Oilmen School. During the three years of study, I attended many practical sessions that helped me to easily learn an in-demand job, and now I can build my career within the OMV Petrom team".

The Oilmen School project was initiated in 2016 and takes place in "Astra Pitești" Technological High School, "Grigore Cobălcescu" Technical College Moinești and "Voievodul Mircea" Technological High School Târgoviște. Graduates obtain an European-recognized professional qualification and skills that allow them to be immediately employed.

The Petrochemists' School project started in the 2022-2023 school year in the Lazăr Edeleanu High School in Ploiești. Graduates receive, after 3 years of training, the petrochemical operator qualification, a qualification with tradition in Prahova County and which is required by companies in the field.

Students enrolled in the two programs attend workshops dedicated to career development, such as communication, negotiation, entrepreneurship, teamwork and others. During the practical internships, the entire learning process is facilitated by a mentor, an employee of OMV Petrom and a teacher from the partner school involved in the project.

For the two projects in the field of professional education, the Oilmen School and the Petrochemists’ School, OMV Petrom allocated RON 17.5 mn in the last seven years.    

About OMV Petrom  

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.