The difference lies in what we make from it. That’s why OMV refines crude as a material for high-end products, products that will remain in demand even in a decarbonized world. They form the basis for our daily lives: from lightweight parts for the automotive and aviation industries to solar panels and wind turbines, medical products, smartphones and computers, through to the packaging that protects foodstuffs and much more.
By further developing our business model, we intend to establish a sustainable portfolio of energy and chemicals that also includes recycling. The imminent majority shareholding in Borealis will provide a foundation for this evolution. And with this we are ushering in a transformation: From a traditional oil and gas company, OMV will become a global gas, oil and chemicals group, one whose significantly expanded value chain extends from the wellhead to the refinery to high-quality plastics and includes recycling. With this, OMV is laying the ground for a lower-carbon future.
- Transform the group for a lower-carbon future.
- Expand the value chain in the direction of chemicals: drawing a line from the wellhead to valuable plastics (e.g. for medical products) and fertilizers.
- Positioning as number 1 for ethylene and propylene capacity in Europe.
- Positioning as a global leader in polyolefin manufacturing (2nd in Europe, 9th worldwide).
- Expand the value chain across the entire lifecycle of plastic products (OMV and Borealis combine chemical and mechanical recycling potential) and evolve into a leader in recycling.
- Safeguard the company strategically and increase its earnings power.
- Grow, add value, and promote sustainability.
Expanding the value chain will transform OMV into a global gas, oil and chemicals group.
Innovative plastics make people’s lives more practical and more sustainable. No other material is as versatile or has such a wide range of uses. Plastics are the material of the 21st century, they form the building blocks for an array of applications and help overcome the challenges of climate change.
A connected world thanks to data cables
Lifesaving medical products
Transporting energy from renewable sources via more robust and reliable power grids
Long-lasting, reliable pipe solutions
Reducing fuel consumption and emissions thanks to lightweight plastic parts in vehicles
From aspirin to rubber, glues, and modern textiles
Food packaging to protect consumers and prevent waste from the field to the plate
- Significant growth is expected in demand for petrochemical feedstock.
- By 2050, 60% of plastics production will be based on recycled materials (Source: McKinsey).
Together, OMV and Borealis will proactively expedite the transition from a linear to a circular economy. With this, we want to be a technological force, leading the way in overcoming one of the greatest challenges of our time: making a lower-carbon future a reality.
Borealis already operates two recycling facilities in Germany and Austria and is the co-founder of “Project Stop”, a project that introduces suitable waste management systems to reduce pollution in the oceans of Indonesia With its ReOil pilot project in the Schwechat Refinery, OMV is doing groundbreaking work in the industrial production of synthetic crude from plastic waste.
- Chemical recycling:
- Mechanical recycling:
OMV has begun its transformation from a traditional oil and gas company into a global gas, oil and chemicals group. The value chain extends from the wellhead to the refinery through to high-quality plastics. With this, we are laying the ground for a lower-carbon future.