Libya: OMV Foresees no Shortages

People ♦ Published: February 24, 2011; 00:46 ♦ (Vindobona)

The CEO of the Austrian OMV considers not to have underestimated the risks in Libya.

Libya: OMV Foresees no Shortages / Picture: ©

The markets punished the OMV share massively today. The closing price was around 5.75% lower than on the previous day. Libya's current crisis brings the stock under pressure since the oil supply from Lybian production is temporarily cancelled. The production share from the North African country is about 20% for OMV: about 34,000 barrels a day. With this production, OMV is responsible…