OMV Petrom is reallocating €1 billion from its low-carbon investment budget to fund conventional oil and gas exploration. This strategic pivot reduces the company's low-carbon spending share from 35 percent to 25 percent and halves its carbon intensity reduction target from 20 percent to 10 percent. While the move aims to boost daily production to 170,000 barrels of oil equivalent by 2030, it highlights the ongoing tension between immediate energy production goals and long-term decarbonization commitments in the European energy sector.
