OMV Petrom secures long-term contract with Astra Bioplant for pretreated UCO feedstock

OMV Petrom SA announced June 19 that it has concluded a supply contract with Astra Bioplant Ltd. for the acquisition of pretreated used cooking oil (UCO).

Astra Bioplant is a Bulgarian company, the largest producer of biodiesel in the region and a longtime partner of OMV Petrom.

The pretreated UCO will be processed into renewable diesel and sustainable aviation fuel (SAF) in the facility currently under construction at the Petrobrazi refinery in Romania.

The contract was concluded for a period of five years with the possibility of extension for three additional years.

Pricing, according to OMV Petrom, is based on a formula that is indexed to an international quotation.

Deliveries are expected to begin in 2028.

The maximum total quantity of the contract, according to OMV Petrom, is 600,000 metric tons, with an estimated value of over 700-million euros (USD$802.7 million) at current market quotations.  

Considering the supply contract for pretreated vegetable oil concluded in June 2024, OMV Petrom said it has secured more than 80 percent of the feedstock it needs for the first eight years of production at the renewable diesel and SAF plant.