Oil Production Declined in Austria

BusinessCommodities ♦ Published: February 16, 2011; 00:34 ♦ (Vindobona)

Domestic oil production fell last year by 3.3% to 965,112 tons. Gas production increased however.

Oil Production Declined in Austria / Picture: © Vindobona.org

Production of crude oil went down by 3.3% in 2010 after the previous year’s growth. These are the results published by the Geologische Bundesanstalt (Geological Survey of Austria). Natural gas production, however, rose by 7.8% and reached a production volume of 1,704bn cubic meters. OMV is the market leader with 87%, the rest is produced by the Lower Austrian EVN subsidiary…