OMV Petrom commissions Romania's largest crude oil tank

The structure, with a capacity of 60,000 cu m, is located at the company's Petrobrazi refinery, near the southern city of Ploiesti, OMV Petrom said in a press release filed with the Bucharest Stock Exchange.

The storage tank, whose construction took around two years, features an insulation system that reduces vapour emissions by 98% and represents the largest aluminium dome structure in Romania, weighing 53 tonnes.

Last month, OMV Petrom said it will test an innovative carbon capture and utilisation installation at its Petrobrazi refinery over a period of four months, starting in June. The company approved an all-time high investment budget of 8 billion lei ($1.74 billion/1.61 billion euro) for 2024.

OMV Petrom reported a 1.399 billion lei net profit for the first quarter of 2024, down 6% compared to the same period of last year.

Shares in blue-chip OMV Petrom changed hands 0.22% higher at 0.6845 lei as at 1054 CET on Monday on the Bucharest bourse.

(1 euro=4.9751 lei)