OMV Surpasses Market Expectations

Other Countries ♦ Published: February 22, 2012; 10:08 ♦ (Vindobona)

The Austrian oil and gas company today announced its results for the fourth quarter. Dividends will rise to € 1.10 per share. Clean CCS EBIT was up by 29%.

OMV Surpasses Market Expectations / Picture: © Wikimedia Commons / Waerfelu [CC BY-SA 3.0 (]

In Q4/11, OMV´s results were supported by a favorable crude price environment (Brent price in USD exceeded last year’s Q4 average by 26%) and an improved refining performance, but were, at the same time, burdened by significant net special charges. The Group’s reported EBIT of € 533m was 8% below Q4/10.

Petrom’s contribution to reported…