Vienna International Energy Industry News

Climate Change - Austrian World Summit Postponed

Arnold Schwarzenegger's ambitious climate project in Vienna falls victim to the coronavirus and has to be postponed until autumn.

March 24, 2020

Nuclear Safety: Nuclear Weapons, Nuclear Safety and Nuclear Power are Major Challenges

The international community currently faces numerous challenges in the field of nuclear safety. At the ICONS - International Conference on Nuclear Security Conference of the IAEA in Vienna, these issues were discussed at policymaker level.

February 13, 2020

Schwarzenegger in Vienna: Kick-off for Climate Conference

Arnold Schwarzenegger and Federal Chancellor Kurz stress the need for effective climate protection.

January 29, 2020

Vienna Energy Forum 2020 as a Hub for Innovative and Sustainable Energy Solutions

During high-level talks at the United Nations Climate Change Conference (COP 25), Maria Patek, Austria's Federal Minister for Sustainability and Tourism, announced the hosting of the Vienna Energy Forum (VEF) 2020.

December 11, 2019

Upward Trend in Foreign Trade Between Uzbekistan and Austria

With 33 million inhabitants, Uzbekistan is the most populous country and Austria's second largest export destination in Central Asia.

November 18, 2019

OPEC Headquarters Vienna: World Oil Market Outlook 2019 Launched

OPEC's Chief Mohammad Sanusi Barkindo released its 2019 World Oil Outlook, in which the OPEC states that the oil market may have upside potential in 2020.

November 17, 2019

Austro-Arab Chamber Secretary General Receives “Decoration of Merit in Gold of the Province of Vienna”

The AACC Austro-Arab Chamber of Commerce in Vienna announced that Secretary General Dipl.-Ing. Mr. Mouddar Khouja was awarded the "Decoration of Merit in Gold of the Province of Vienna", in recognition of his dedication and devotement to the province of Vienna through his personal initiatives and in his professional capacity as Secretary General of AACC.

November 4, 2019

Mohammad Sanusi Barkindo to Present the OPEC World Oil Outlook 2019

The OPEC World Oil Outlook provides insights into the upstream and downstream, supply and demand, investments, the potential impact of policies and sustainable development. It will be launched at the Vienna Stock Exchange by OPEC’s Secretary General, HE Mohammad Sanusi Barkindo.

October 22, 2019

Further Increase in Greenhouse Gas Emissions in Austria

Environmental control report calls for increased investment in climate-neutral economy and society. Climate neutrality requires change in the economy and society.

October 16, 2019

Largest Austrian Listed Companies: Verbund Replaces Andritz in ATX five

The semi-annual review of the Austrian leading index ATX shows no change in the composition. However, Verbund AG is moving into the ATX five, which comprises the five largest listed companies, instead of Andritz AG from Styria, according to the Vienna Stock Exchange in a press release.

September 4, 2019

What Does Vienna Have in Common with the New Silk Road?

In order to ensure sustainable development, the cities along the New Silk Road also have to face major infrastructural and social challenges, as well as climate-ecological challenges. More than 1000 participants from more than 178 cities are expected in September in the Vienna International Center for UNIDO's Bridge for Cities Conference as part of the Belt & Road Initiative.

August 12, 2019

Combat Climate Change - António Guterres' Remarks at the R20 Austrian World Summit

Because of climate change all around the world the sea level is rising, floods, drought, wildfires and extreme storms appear, and people are now losing their homes and being forced to migrate. Read what António Guterres had to say in Vienna after a trip to the South Pacific.

May 30, 2019

"Climate Kirtag" with Greta Thunberg and Arnold Schwarzenegger

The climate protection conference "R20 Austrian World Summit" at the Heldenplatz in Vienna ended with appeals by climate protection activist Greta Thunberg and Arnold Schwarzenegger at the "Climate Kirtag".

May 29, 2019

Former Finance Minister Schelling to Be Appointed to OMV Supervisory Board

Former ÖVP finance minister Hans Jörg Schelling is to move into the supervisory board of the partly state-owned OMV. Various media report that this is being done at the request of senior government officials.

April 25, 2019

Wolfgang Schüssel Joins the Lukoil Supervisory Board - Who are His Colleagues?

As a press release of Lukoil revealed, the former Austrian Chancellor Dr. Wolfgang Schüssel takes over one of 12 supervisory board positions in the second largest Russian company PJSC Lukoil Oil Company as Independent Director. Who are his 11 supervisory board colleagues?

March 13, 2019

What is Lukoil and What Does It Do in Austria?

Lukoil Oil Company is the second largest Russian oil multinational with a turnover of USD 102 billion, of which approximately USD 250 million comes from Austria. Lukoil has been represented in Austria since 1995 and currently operates from Vienna four subsidiaries with activities in 40 countries.

March 13, 2019

Austria's Dependence on Russian Gas Increased by 33 Percent

The effects of the amendment to the contract on gas supplies from Russia to Austria signed last year become visible. A meeting in Moscow between Rainer Seele, Chairman of the Executive Board of OMV, and Alexey Miller, Chairman of the Gazprom Management Committee, revealed that gas deliveries between January 1 and March 5, 2019 increased by 32.9 per cent compared to the same period last year.

March 6, 2019

Official Visit of President of Hungary - Criticism of Expansion of Paks Nuclear Power Plant

President János Áder of Hungary paid an official visit to Austria. The main topic of discussion between Áder and Austrian Federal President Alexander Van der Bellen was climate protection.

February 25, 2019

OMV Doubles Net Profit and Achieves 2018 Most Profitable Result in Company History

Austria's largest and listed industrial company, the oil and gas group OMV, achieved its most profitable result in the company's history in 2018 with a net profit of almost two billion euros.

February 7, 2019

OMV Acquires 2.2 Billion Euro Share in United Arab Emirates Refinery

Austrian OMV and the state-owned oil company of the United Arab Emirates, Adnoc, announced that OMV has acquired a 15 percent stake in Abu Dhabi Oil Refining Company. Thereby OMV establishes a major downstream Oil position. In addition, OMV will acquire a 15 percent stake in a trade joint venture with export volumes equivalent to around 70% of production.

January 28, 2019

High-Level Forum Africa-Europe - EIB Signs 3 Africa Projects Totalling Half a Billion Euros

At the Africa‑Europe High‑Level Forum in Vienna the European Investment Bank formally agreed a total of EUR 495 million of new financing for three projects in ten countries to support sustainable transport, clean energy and internet access projects in North, West and East Africa.

December 19, 2018

The New Location Development Act - Significance for Austria's Attractiveness as a Business Location

The Austrian government has passed the highly controversial Location Development Act in the Council of Ministers, which will speed up environmental impact assessments, be passed by the National Council this year and come into force on 1 January 2019. The new legislation will introduce automatic permits for certain energy infrastructure projects (eg, electricity grids and power plants). Positive reactions are coming from industry and politics. Various environmental associations criticise the new law.

November 22, 2018

Kurz Met Bill Gates: "He is a Source of Inspiration"

Federal Chancellor Sebastian Kurz met billionaire and Microsoft founder Bill Gates at the EU summit in Brussels. Gates was in Brussels this week to create a pilot fund that will invest €100 million in European companies working to stop climate change.

October 19, 2018

IAEA Laboratories in Seibersdorf - A Hub of Scientific Excellence

The laboratories of the International Atomic Energy Agency (IAEA) are located in the town of Seibersdorf, where scientists carry out unique work in support of global peace and development. Located 35 kilometres south of Vienna, the 10 laboratories play an important role in the IAEA’s activities in the areas of nuclear verification, food and agriculture, human health, industrial applications and the environment. Recently Austrian President Van der Bellen paid a visit to Seibersdorf.

October 16, 2018

Austro-Arab Energy Community Meets in Vienna to Discuss International Cooperation

The 10th Arab-Austrian Economic Forum & Exhibition took place in Vienna yesterday, organized by the AACC Austro-Arab Chamber of Commerce in cooperation with the City of Vienna and the Regional Center for Renewable Energy and Energy Efficiency (RECREEE). Under the general theme "Energy Transition - Urban Technology and Sustainable Cities", New Opportunities for International Cooperation and Partnerships, representatives from EU institutions, international organizations, funds, European and international financial institutions as well as ministers and high-ranking personalities from the Arab economy met representatives of the local economy, politics and business community. Participants included Nabil R. Kuzbari, Richard Schenz, Michael Ludwig, Omar Al-Rawi, Mahdi Allak, Johannes Peterlik, Samir Koubaa, Michael Esterl and Li Yong.

October 2, 2018

Vienna Energy Forum and the R20 Austrian World Summit 2018: Feedback of a Participant

At the Vienna Energy Forum and the R20 Austrian World Summit recently held in Vienna, Beatriz Mayor of IIASA - International Institute for Applied Systems Analysis also participated, who shares her interesting insights as follows.

June 6, 2018

OMV Celebrates 50 Years of Lucrative Natural Gas Business

On 1 June 1968, a historic gas supply contract was signed in Vienna, establishing Austria’s role as a key country in Europe’s natural gas network. The 50-year collaboration with Russia is a win-win situation. Then, as now, natural gas plays a key role in OMV's portfolio, as European demand will continue to increase over the next decades. OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.

June 6, 2018

Putin's Austria Visit: Extension of Gazprom Gas Supply Contract until 2040

OMV has formally confirmed the extension of the gas supply contract with Russia's Gazprom on the occasion of the visit of Russian President Vladimir Putin to Austria by the two CEOs Alexey Miller and Rainer Seele.

June 6, 2018

Vladimir Putin on PR Campaign in Austria

Vladimir Putin is on his sixth official state visit to Austria. Officially, on the occasion of the 50th anniversary of the gas supply contract between Austria and Russia, this is a working visit to President Van der Bellen and Chancellor Kurz. In fact, a new gas supply contract between Gazprom and OMV is the main reason for the visit. Other gas deals are still in the negotiation phase, namely the Gazprom Urengoy gas field asset swap and the Nordstream 2 pipeline project. The Central European Gas Hub in Baumgarten/Lower Austria, an important gas distribution hub from the Russian perspective, could also be on the agenda.

June 5, 2018

Meet OPEC's Secretary General Mohammad Sanusi Barkindo

HE Mr. Mohammed Sanusi Barkindo is the current Secretary General of OPEC. He recently received a prestigious Energy Award for Lifetime Achievement for helping to stabilize the oil price again. He also gave an insight into how OPEC has regained its former strength under his guidance.

May 28, 2018

OMV Group Report Q1 2018: Profit Down 43%, Production Up 30%

Adjusted operating profit amounted to EUR 818 million, up 2% year-on-year. Net income was also in line with forecasts, although net income for the period fell by 43% year-on-year. One of two key events was the signing of a concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC, as well as two satellite fields. The agreed participation fee amounts to USD 1.5 bn and the duration of the contract is 40 years.

May 4, 2018

OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields

An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.

May 4, 2018

Top Energy Events Put Vienna in the Focus of the Global Clean Energy Economy

The Vienna Energy Forum 2018 in May in Vienna brings together a multitude of people and institutions to discuss and solve the key questions of the present on the topic of energy. Among them are heads of state, ministers, energy experts, representatives of international and non-governmental organizations, academia, civil society and the private sector. The PFAN Climate and Clean Energy Investment Forum and the R20 Austria World Summit are also part of this huge event. This event, sponsored by Arnold Schwarzenegger, is a high-level summit about leadership on implementing the Paris Climate Agreement and the United Nations Sustainable Development Goals.

April 19, 2018

OMV: Yearly Financial Report 2017

OMV Aktiengesellschaft is declaring the following financial reports below.

April 12, 2018

OMV Buys Oilfield Shares in Abu Dhabi for USD 1.5 Bln

Listed oil corporation OMV is acquiring 20 percent of two offshore oil fields in Abu Dhabi from the Abu Dhabi oil group ADNOC. The purchase price for the concession and the associated infrastructure amounts to USD 1.5 billion. OMV has already a long relationship with Abu Dhabi. OMV opened a representation office in Abu Dhabi in 2007. Today Abu Dhabi is the location of the Business Hub for OMV´s Upstream Middle East & Africa activities.

April 6, 2018

Former Finance Minister Schelling Appointed Gazprom Advisor

Hans Jörg Schelling, former Austrian Minister of Finance until December 2017, has signed an advisory contract with Nord Stream 2 gas pipeline three months after his handover. OMV is also involved in the project, of which he was the owner's representative as Austrian Minister of Finance.

March 30, 2018

Austrian Delegation Seeks to Improve Economic and Political Relations with Jordan

An official visit of President Van der Bellen to Jordan will take place from 17 April to 19 April 2018. The delegation to Amman will be accompanied by an economic mission headed by WKO Vice President Richard Schenz. The economic mission of the WKO is the response of an invitation issued some time ago by the President of the Chamber of Commerce of the Kingdom.

March 8, 2018

Chancellor Kurz Visits President Putin: "The situation in Syria is dramatic"

Austrian Chancellor Sebastian Kurz traveled to Moscow to meet Vladimir Putin. The focus of the trip was a working meeting with the Russian President, with whom Kurz discussed, among other things, the bilateral relations of both countries, the relationship between Russia and the EU, the Ukraine conflict and the current situation in Syria.

February 28, 2018

OMV Group Reports Operating Result of EUR 688 Mln in 2017

OMV AG is reporting group results for 2017. The operating result increased by 67% to EUR 688 mn. Net income attributable to stockholders amounted to EUR 367 mn. Data includes latest two acquisitions of a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia (see picture) and the purchase of 40% in SMATRICS, Austria’s complete provider for all services related to electro - mobility. See OMV Group Report January – December and Q4 2017 including condensed consolidated financial statements as of December 31, 2017 and Investor Relations Video below.

February 21, 2018

Schoeller Bleckmann Oilfield Preliminary Result for 2017

The 2017 financial year of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, was characterised by the upswing seen in North America. The strategic expansion of the Well Completion business the year before therefore turned out to be the perfect choice to make. Against the continued weak market environment internationally, SBO closed financial year 2017 on a clearly positive operating result.

January 16, 2018

Andritz Receives 90 Million Euros Order for Power Plant Renewal in Canada

The listed technology group Andritz has landed a major order for the renovation of a hydroelectric power station in Canada. "The order value is over 90 million euros," said Andritz by press release. The Styrian company will therefore renew six of the eight turbine units of a power plant in the province of Saskatchewan for the Canadian electricity supplier SaskPower.

October 31, 2017

Oil Price Hardly Matters for Russian Country Risk

The oil price decline has created headwinds for the Russian economy. However, the risk of doing business in Russia as determined not only by economic but also by political and structural factors has not changed substantially and there is therefore no evidence that the oil price decline had a significant impact on Russian country risk.

November 2, 2016

OSCE: "Reliable, Affordable and Sustainable Energy Supplies are Prerequisite for Stability and Security"

Energy experts from the OSCE Mediterranean Partners for Co-operation, representing both government institutions and private sector companies, will begin a week-long field study of sustainable energy in Austria and Germany.

July 12, 2016

Activ Solar Files for Reorganisation in Austria, Debts Reach EUR 500 Million

Vienna-based Activ Solar GmbH announced that it is bankrupt and that it has filed for reorganization in Austria due to its investment exposure in Ukraine. The company has amassed debts to the tune of EUR 500 million.

February 10, 2016

Klaus Toepfer to Give Keynote Speech at Economic and Environmental Forum in Vienna

Good governance in the OSCE area, reinforcing security and stability through co-operation, will be theme of the 24th Economic and Environmental Forum and the 1st Preparatory Meeting taking place on 25 and 26 January in Vienna. The meeting will focus on good environmental governance to enable sustainable economic development.

January 22, 2016

US Company Contour Moves European Headquarters from Paris to Vienna

The Vienna-based European headquarters will be the strategic centre for all thermal and renewable energy facilities in Austria, Italy, Czech Republic, Romania, Poland, Slovakia, Bulgaria, Armenia, Spain, Northern Ireland and Ukraine.

December 11, 2015

Historic Iran Nuclear Deal Likely to be Announced Early Tuesday

Officials negotiating in Vienna's Palais Coburg say nothing is confirmed, but a deal will possibly come in the early hours of the morning. Iran’s Foreign Minister Mohammad Javad Zarif said an Iran nuclear deal would not be ready to be announced July 13, as China’s Foreign Minister urged the P5+1 and Iran to finalize the accord.

July 13, 2015

OPEC in Vienna Decides to Keep Production Unchanged

The Organization of the Petroleum Exporting Countries (OPEC) today hosted its 167th Meeting of the OPEC Conference at the OPEC Secretariat in Vienna. Participants included OPEC Heads of Delegation and the Secretary General. There were some expectations that the production goal of 30 million barrels a day could move higher. However, the key issue the market was looking for will remain at 30 million barrels a day.

June 5, 2015

Strabag Builds EUR 37 Million Power Plant in Switzerland

Strabag AG is building the Rhone Oberwald run-of-the-river hydroelectric plant in the Swiss canton of Valais. The contract value of € 37 million comprises the construction of the necessary tunnels, galleries and underground chambers.

June 5, 2015

OPEC Member Countries Discuss Global Petroleum Development Strategies in Vienna

The 6th OPEC International Seminar, with the theme "Petroleum - An Engine for Global Development", aims to build on the previous events from the past decade. It is currently taking place at the Imperial Hofburg Palace in Vienna. The Seminar intends to underpin OPEC’s commitment to stabilize the international oil market by promoting cooperation and dialogue with stakeholders around the world.

June 3, 2015