OMV AG to Invest EUR500 Million Through 2025 in Sustainable Energy Technologies
November 29 2018 - 4:18AM
Dow Jones News
By Patrick Costello
OMV AG (OMV.VI) released Thursday a set of sustainability
targets the company has set through 2025, including investments in
low-carbon energy solutions amounting to hundreds of millions of
euros.
The Vienna-based integrated oil and gas company said it will
invest 500 million euros ($565.5 million) by 2025 in "innovative
energy solutions."
OMV will make investments in its ReOil research-and-development
project to convert waste plastics into crude oil as well as in
co-processing technologies that improve fuel quality.
Other targets included in OMV's Sustainability Plan 2025 include
a 19% reduction in the carbon intensity of its operations by 2025
and a 4% reduction in the carbon intensity of its external product
sales.
Write to Patrick Costello at Patrick.Costello@dowjones.com.
(END) Dow Jones Newswires
November 29, 2018 04:03 ET (09:03 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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