OMV Raises Production and Margins

Companies ♦ Published: October 21, 2011; 17:06 ♦ (Vindobona)

The Austrian oil and gas company increased total production by 3%. Hedges adversely impacted EBIT by € 44m in the period from July to September.

OMV Raises Production and Margins / Picture: © Wikimedia Commons / Waerfelu [CC BY-SA 3.0 (]

OMV’s overall production increased in the third quarter of the year, mainly due to the return of production volumes in Austria and New Zealand to pre-shutdown levels and the partial resumption of production in Yemen. Compared to the previous quarter, the company registered a 3% increase from 275,000 to 283,000 boe/d (barrel oil equivalents per day). Against the third quarter of 2010,…