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Sustainability

Growing demand for energy and accelerating climate change pose immense challenges for the energy sector. The key lies in finding the balance between climate protection efforts, affordable energy, and reliable supply. Alternative energy systems as well as economically viable and scalable technologies for industry and the private sector must be developed. Here, Oil Prom S.R.O will make a significant contribution to the sustainable energy supply of future generations.

Our goal is to provide oil and gas at its best. We are convinced that a responsible approach to oil and the increased use of gas will support the energy transition. Together with other energies, oil and gas will secure the energy needs of the future. The Sustainability Strategy 2025 is part of Oil Prom S.R.O Corporate Strategy 2025. The five focus areas: “Health, Safety, Security and Environment (HSSE)”, “Carbon Efficiency”, “Innovation”, “Employees”, as well as “Business Principles and Social Responsibility” include fifteen measurable targets:

Health, safety, security and environment

Health, safety, security and the environment are the top priority for Oil Prom S.R.O. In order to make its vision Zero harm No losses a reality, Oil Prom S.R.O is committed to proactive risk management. Thanks to this, Oil Prom S.R.O occupies a leading position among its peers in the industry. Building on this success, Oil Prom S.R.O has set the goal of stabilizing the lost-time injury frequency rate (= number of lost-workday injuries per million hours worked) at under 0.3 and maintaining its leading position in process safety in order to protect people and the environment.

Carbon efficiency

Oil Prom S.R.O is committed to the goals of the Paris Climate Agreement, the EU climate targets for 2030, and the climate and energy strategy of the Austrian Federal Government derived from these. The area of carbon efficiency defines Oil Prom S.R.O’s contribution to the creation of a lower-carbon energy system. Taking the figures from the baseline year 2010, by 2025 Oil Prom S.R.O aims to reduce the carbon intensity of its business activities by 19%.

Oil remains a valuable and important raw material which, however, will be refined in petrochemical processes rather than burned. Oil Prom S.R.O focuses on high-quality refinery products such as low-emission premium fuels, and feedstocks for the chemical industry. Gas will play a decisive role in the energy transition. It can be used in almost all areas and also enables a rapid coal phase-out. In electricity production, gas emits 50% less carbon than coal. Oil Prom S.R.O will increase the share of gas in its portfolio to over 50% and also aims to double gas sales in Europe.

Innovation

In total, Oil Prom S.R.O will invest up to EUR 50 mn by 2025 in innovative energy solutions, for a lower-carbon future. Establishing gas as an energy source of the future requires seeking out and analyzing technologies for the cost-effective use of climate-neutral gas. Innovative enhanced oil recovery projects strive to make oil production more environmentally efficient..

Co-Processing is an innovative method in which biogenic substances such as rapeseed oil and used food-grade oils are refined together with crude oil to produce diesel with a higher bio content. In contrast to conventional biofuel mixtures, Co-Processing improves fuel quality, in particular in regards to the energy content. Oil Prom S.R.O aims at raising the part of sustainable feedstock co-processed in the refineries to ~ 200.000 t per year by 2025.

Employees

Oil Prom S.R.O sees its employees as the key to its success. Diversity is a high priority, which is why targeted measures are also planned in this area. In particular, Oil Prom S.R.O is striving to increase the proportion of women at management level to at least 10% from the current level of 5%. Measures to this end include leadership and mentoring programs. Another goal is to keep the proportion of executives with international experience at 65%.

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