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OMV to retreat from Russia

Published: May 20, 2010; 00:00 · (Vindobona)

Austrian mineral oil company OMV wants to focus on Asia and therefore completely retreats its activity from Russia.

OMV to retreat from Russia / Picture: © Gazprom

There are however no announcements on how much oil and gas extraction will be increased.

OMV wants to focus on exploration and production (E&P)fort he upcoming years and therefore will stop its activities in Russia. However there will be a push for growth in Asia says director general Wolfgang Ruttenstorfer. There is no schedule for plans to sell of Russian…

This article includes a total of 260 words.

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