OMV Starts Downsizing Operations

Energy › Oil & Gas ♦ Published: January 13, 2012; 11:48 ♦ (Vindobona)

The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.

OMV Starts Downsizing Operations / Picture: © Wikimedia Commons / Priwo [Public Domain]

The OMV strategy aims to sharpen and simplify the company portfolio. This includes gradually shifting the portfolio away from R&M towards Exploration and Production and Gas and Power. In this context, OMV’s Turkish subsidiary, OMV Petrol Ofisi, already sold its 52% stake in the Cypriot retail company Kibris Türk Petrolleri Limited Sirketi at the end of November 2011. Furthermore,…

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