Vienna International Energy Industry News

Read the latest headlines about developments in the international energy industry in Vienna and Austria

Austria's Constitutional Protection Agency Warns of Chinese Economic Espionage

The Austrian Office for the Protection of the Constitution has issued an urgent warning about Chinese industrial espionage. Small and medium-sized enterprises and research centers are particularly at risk.

May 20, 2024

Seventh OPEC-China Energy Talks in Vienna: Joint Focus on Sustainable Future and Energy Cooperation

The seventh high-level meeting of the OPEC-China Energy Dialogue took place in the Austrian capital. The meeting was hosted by the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC), with key representatives from both sides discussing their visions and plans for the future of energy cooperation and sustainable development.

April 2, 2024

European Gas Conference in Vienna Postponed due to Protests

The European Gas Conference planned for March 26-28 in Vienna is no longer on the international energy industry's calendar. Security concerns caused by announced protests forced the organizers to postpone the event indefinitely.

March 14, 2024

City of Vienna Warns of Nuclear Renaissance and Small Modular Reactors in Europe

In a recent statement, Vienna City Councillor for Climate Action Jürgen Czernohorszky, who is also Chairman of the Cities for Nuclear Free Europe (CNFE) initiative, is critical of Sweden's nuclear power plans, the situation, and the development of Small Modular Reactors in Europe.

March 4, 2024

Austria Plans to Withdraw from Russian Gas Contracts

In a decisive step against continued energy dependence, Energy Minister Leonore Gewessler (Greens) announced that she would end the gas supply contracts between OMV and the Russian company Gazprom. The contracts, which run until 2040 and oblige Austria to purchase significant quantities, are under critical review. Gewessler commissioned the Economic Research Institute (WIFO) to carry out a detailed analysis of the economic consequences of termination and the risks of continued dependency.

February 12, 2024

Africa Day 2024: Austria Looks to Africa's Future Markets

This year's Africa Day was all about Africa's future markets and offered a platform to strengthen economic relations between Austrian and African companies. Organized by the Austrian Federal Economic Chamber (WKÖ), the event attracted more than 1,200 participants from Austria, over 30 African countries, and guests from Europe, Asia, and the USA.

February 5, 2024

OMV's Borealis to Merge with Borouge in a 30 Billion Euro Deal

OMV's subsidiary Borealis is set to merge with the Abu Dhabi-based petrochemical company Borouge, creating a new global heavyweight in the chemical and plastic sector with an estimated value of 30 billion euros. This significant move marks a transformative step in the ongoing value creation and chemical growth strategy of both companies.

December 14, 2023

Glock Ecotech Launches Sustainable Energy Project in Sweden

The Austrian company Glock ecotech has taken a significant step towards sustainable energy supply in Sweden. With the successful commissioning of its first electricity-to-heat power plant near Nyköping, the company now also offers an environmentally friendly energy option in the Scandinavian region.

December 5, 2023

Austro-Arab Chamber of Commerce Hosts Libyan Delegations for Industry and Digital Transformation Talks

In a series of significant events, the Austro-Arab Chamber of Commerce (AACC) in Vienna, Austria, played host to high-level delegations from Libya, focusing on industrial development and digital transformation.

December 5, 2023

Revolutionizing E-Mobility in Austria: Introduction of the E-Control Tariff Calculator for E-Charging Stations

In a new initiative to promote e-mobility, the Austrian regulatory authority E-Control has introduced a new comparison calculator for public e-charging points.

November 23, 2023

Wien Energie Builds a New Large Heat Pump for a Climate-Friendly District Heating Supply

Wien Energie has announced the construction of a new large-scale heat pump at the Spittelau waste incineration plant, which will increase the plant's efficiency by 13 percent and supply 16,000 households in Vienna with district heating from 2025. This third large-scale heat pump in Vienna is a significant step towards the city's climate targets, which aim to be climate-neutral by 2040.

November 16, 2023

OPEC Secretary General Al Ghais Advocates for Increased Oil Production Amidst Global Energy Transition

In a recent op-ed and public statement, OPEC Secretary General, His Excellency Haitham Al Ghais, presented a compelling argument for the necessity of oil in today's world, even as global energy transitions are underway.

November 13, 2023

China and OPEC Cement Economic Ties for a Sustainable Energy Future

In a landmark progression for global energy relations, China and the Organization of the Petroleum Exporting Countries (OPEC) have significantly deepened their partnership, moving from a historical ideological alliance to a robust economic collaboration. This shift is set to have far-reaching implications for market stability and the sustainable development of the global energy sector.

November 9, 2023

Vienna Pioneer for Circular Economy: Climate Lab as a Spark for Climate Transformation

In the heart of Vienna, more precisely at the Climate Lab in Vienna Spittelau, an innovative movement has emerged that has the potential to fundamentally change the way Austria's economy deals with its resources. Climate Protection Minister Leonore Gewessler and the top representatives of Austria's largest companies came together to drive forward a sustainable transformation of Austria as a business location, with the Climate Lab playing a key role.

November 5, 2023

Ukraine Will Block Gas Transit: Challenges and Opportunities for OMV and Europe

Ukraine's decision to stop transiting Russian natural gas to the West from 2025 poses a significant challenge for OMV and for several European countries. The announcement, made by the head of Ukrainian energy company Naftogaz, Olexiy Chernyshov, raises several questions about energy security and dependence on Russian gas.

October 29, 2023

APG Invests Nine Billion Euros in Austria's Electricity Grid

Austrian Power Grid (APG) has unveiled an ambitious €9 billion investment program designed to lay the foundation for a supply-secure energy transition in Austria. The company, a subsidiary of Verbund AG, thus plays a central role in the transformation of the Austrian energy supply system.

October 24, 2023

Wien Energie Strengthens Independence By Reducing Russian Gas

With the start of the heating season in Vienna, ushered in by a sudden drop in temperatures after an unusually warm start to October, the essential issue of energy supply security is once again coming to the fore. In light of ongoing geopolitical tensions, Wien Energie, Austria's largest energy supplier, has taken proactive measures to secure heating supplies for the coming winter while reducing dependence on Russian natural gas.

October 22, 2023

Austria's Growing Potential: MCF Energy's Welchau Gas Prospect

Austria could be on the verge of a breakthrough in its quest for energy security with the announcement of further developments regarding the Welchau gas prospect. MCF Energy Ltd. has confirmed plans to commence drilling at the Welchau site in Austria during Q4 2023.

October 18, 2023 · Updated: October 18, 2023; 20:00

Austria Wants to Be One of the Most Sustainable Destinations in the World

The extent to which the issue of climate change now affects all areas of our lives was also evident at this year's Expo Real in Munich.

Birgit Adelsberger · October 8, 2023

Austrian Group Shows at Expo Real 2023 how Sustainable Real Estate Works

Sustainability was a big topic at this year's Expo Real in Munich. Many of the conferences, which again featured high-caliber participants, addressed the topic of ESG (Environmental Social Governance) in connection with the various aspects of the real estate industry.

Birgit Adelsberger · October 8, 2023

OMV and Wood Sign Agreement to License Plastic Recycling Technology

In a move to promote the circular economy and reduce plastic waste, Vienna-based OMV and UK-based Wood have signed an exclusive cooperation agreement to commercially license OMV's ReOil technology. This agreement was reached at ADIPEC, the world's largest energy conference in Abu Dhabi, and is designed to drive progress in chemical plastic recycling.

October 3, 2023

Norway as a New Key Partner for Austria in Energy and Climate Protection

During a working visit to Norway, Chancellor Karl Nehammer emphasized Norway's key role in the fields of environment, energy technology, and climate protection. In a conversation with Norwegian Prime Minister Jonas Gahr Støre, Nehammer emphasized that Norway is not only an important partner but also a pioneer in environmental and energy technology.

October 3, 2023

Austria Strengthens its Economic and Diplomatic Relations with Africa

Austria has increased its focus on its economic and diplomatic relations with Africa. The country's trade with sub-Saharan Africa amounted to 2.28 billion euros in 2022, or about 0.56 percent of Austria's total trade volume. Austrian exports to the region increased by 15.7 percent year-on-year to 1.33 billion euros. South Africa, Mali, and Nigeria were the main export markets. Read more about why Africa is important for Austria!

September 28, 2023

OMV to Supply Air France-KLM 2,000 Tons of Sustainable Jet Fuel

OMV, a Vienna-based integrated company specializing in energy, fuels, and commodities, has taken a decisive step towards promoting more sustainable aviation practices. It has signed an off-take agreement to supply 2,000 tons of sustainable aviation fuel (SAF) to Air France-KLM Group for 2023.

September 18, 2023

Austria EU Representative Selmayr at Dispute Because Of "Blood Money" Statement

EU representative Martin Selmayr has called Austrian gas payments to Russia "blood money". Now reprimanded by Vienna and Brussels, EU Commission representative Martin Selmayr does not want to give up his job in Austria.

September 14, 2023

Skills Shortage in Austria: Companies Feel Pressure, But Also Opportunities

A recent study by the recruiting platform Stepstone shows that the shortage of skilled workers is leaving a clear mark on Austria's companies. Two-thirds of respondents are concerned about the additional workload caused by unfilled positions. This is despite a slight increase in advertised vacancies of 2 percent in the first half of the year, with some sectors such as engineering, care, and construction even seeing significant increases.

September 13, 2023

Green Peak Festival 2023: Austria's Pioneer for Climate Protection and Entrepreneurship

The renowned Green Peak Festival, which has established itself in the heart of Vienna as Austria's flagship event for sustainability and entrepreneurship, impressed once again. For the second year in a row, over 800 participants gathered to network, exchange ideas and discuss the latest developments in sustainability. The project was supported this year by the Embassy of Israel.

September 11, 2023

Austria's Ex-Economy Minister Schramböck in Saudi Arabia: Progress on Women's Rights and Economic Opportunities

The former Austrian Minister of Economy, Margarete Schramböck, has given insights into her new professional activities in Saudi Arabia in an interview with the magazine "trend". She is currently on the board of Aramco Digital, a digital subsidiary of Saudi Aramco, the world's largest oil company, which was founded in spring 2023. Schramböck plays an important role there, which she describes as "between the executive board and the supervisory board."

September 7, 2023

PÜSPÖK and UNESCO: Empowering Climate Action through Nature Conservation and Renewable Energy

The Austrian company PÜSPÖK, a rapidly growing company in the field of renewable energies, is actively committed to climate, environmental, and nature protection. By supporting the initiative "Klimapartnerschaft.at", PÜSPÖK is committed to the preservation and protection of the largest primeval forest remnant in the Alpine arc, the UNESCO World Natural Heritage "Wilderness Area Dürrenstein-Lassingtal", thus contributing to the protection of a rare ecosystem and unique biodiversity.

July 25, 2023

Plants as Climate-Friendly Air Conditioning: City of Vienna Promotes Greening of Buildings

The positive effect of green buildings on the climate is undisputed. To promote the implementation of green buildings, the City of Vienna provides generous subsidies of up to € 20,200. Interested parties can obtain free advice on this subject from Eco Counselling (DIE UMWELTBERATUNG) in Vienna.

July 23, 2023

Exploring Vienna's Sustainable Solutions: Unusual Excursion Tips by MA 48

Waste prevention and waste separation as well as a clean city are among the central goals and concerns of street cleaning in Vienna (MA 48). MA 48 invites all interested parties to visit its facilities free of charge.

July 18, 2023

OMV's Polyolefins Business Cooperation: Concerns Raised as Greens Question Borealis' Future

Austrian energy company OMV has decided to pursue negotiations with ADNOC, the state-owned oil company of the United Arab Emirates, on potential cooperation of their polyolefins business. This reinforces certain concerns of the critical voices on the OMV-ADNOC deal.

July 16, 2023

OMV Secures Additional European Gas Transmission and Pipeline Capacities until 2028

The listed oil and gas group OMV has successfully secured additional European gas transport capacities and gas pipeline capacities. This measure serves to secure Austria's gas supply and enables OMV to meet its delivery obligations in the medium term.

July 12, 2023

Wealth of the Richest Austrians Grows Despite Global Trends

In its latest issue, the business magazine "trend" publishes its annual ranking of the "100 richest Austrians". In contrast to some global studies, which show a slight decline in the ownership of the super-rich, Austria shows a different development. The assets of the 100 wealthiest individuals and families increased by five percent to a total of around 210 billion euros.

July 11, 2023

Selling of Turmoel Fuel Business to the Polish Group Orlen

The Austrian-based Doppler mineral oil group has sold its Turmöl fuel business to the partly state-owned Orlen mineral oil group from Poland, Orlen announced. As a result, the Turmöl service stations are switching to a large international group.

July 4, 2023

OMV Gives Final Investment Decision for Gas Project in Romania

OMV announced the final investment decision by OMV Petrom, the largest integrated energy company in Southeast Europe, for the Neptune Deep natural gas production development project.

June 22, 2023

OPEC and Non-OPEC Participating Countries Agree on Crude Oil Production Adjustments

In a bid to maintain stability in the oil market, OPEC and non-OPEC Participating Countries have announced key decisions during the 35th OPEC and non-OPEC Ministerial Meeting held in Vienna. The meeting emphasized the commitment to achieving a stable oil market and providing long-term guidance for the industry.

June 19, 2023

European Union's Space Program Contributes to UNOOSA's "Space2030" Agenda

The United Nations Office for Outer Space Affairs and the European Union Agency for the Space Programme have joined forces to unveil a groundbreaking report aiming to shed light on the crucial role played by the European Union in advancing the objectives of the "Space2030" Agenda and addressing long-term sustainable development concerns facing humanity.

June 13, 2023

NEFI Study Shows Paths to Climate-Neutral Industry in Austria

A recent study by the innovation network NEFI - New Energy for Industry has provided important impetus for a climate-neutral future for Austrian industry. In 2021, the domestic manufacturing industry was responsible for more than one-third of the total CO2 emissions in Austria. The NEFI experts have now developed three scenarios that show concrete ways to transform the industrial energy system.

June 11, 2023

Vienna Business Agency and Climate Lab For Sustainable Economic Development

Since its founding in September 2022, the Climate Lab has strived to achieve Austria's climate neutrality targets and the goals of the Austrian circular economy strategy as quickly as possible through innovative collaborations and alliances.

June 4, 2023

Gazprom Austria Inventory is Now Being Auctioned Off

The Gazprom subsidiary in Austria has become insolvent, and now its assets are being auctioned off at the Aurena auction house. The offer includes 240 exhibits and the purchase of Russian business memorabilia.

May 22, 2023

Political Support for Southern Hydrogen Corridor: Austria, Germany, and Italy Sign Joint Letter

The Southern Hydrogen Corridor, developed by major European transmission system operators, aims to connect North Africa, Italy, Austria, and Germany to supply important European demand clusters with competitive renewable hydrogen.

May 10, 2023

Trilateral Meeting Discussed Energy Transition and Energy Innovation

A trilateral conference was held at the Technical University of Vienna, where Italian, French, and Austrian energy actors discussed the topics of energy innovation and the energy transition. The discussion panels included topics such as the role of gas and nuclear power in European decarbonization, the importance of renewable energy sources, and the potential of solar energy in Europe.

May 3, 2023

Austria Establishes a National Task Force to Combat Environmental Crime

The ministers of agriculture, justice, finance, social affairs, environment, and interior established an interagency task force on April 12, 2023.

April 12, 2023

EU Approves 2 Billion Euros in State Aid for Wien Energie

The European Commission has approved 2 Billion Euros in state aid for Austrian energy supplier Wien Energie. This was done to accelerate the energy transition and reduce fuel dependency in the context of the Russo-Ukrainian war, according to the EU Commission.

April 5, 2023

Norwegian Aker BP and Austrian OMV Cooperate for CO2 Storage License

Norwegian oil and gas company Aker BP ASA and the Norwegian offshoot of Austria's OMV AS have signed a cooperation agreement on carbon capture and storage (CCS). As a result, both companies have been granted a license under CO2 storage regulations on the Norwegian continental shelf.

April 3, 2023

OPEC+ Surprisingly Cuts Oil Production

The OPEC+ alliance has announced a surprise cut in oil production. There will probably be a reduction of about one million barrels per day from May onward.

April 3, 2023

IAEA Head Grossi is Concerned about the Zaporizhzhya Nuclear Power Plant

The International Atomic Energy Agency (IAEA) has once again expressed concerns about the fighting around the Nuclear Power Plant (NPP) in Zaporizhzhya. Head of IAEA Rafel Grossi holds on to the implementation of a security concept.

March 30, 2023

Austrian OMV Declares Exit from Russian Gas as "Extremely Difficult"

The CEO of the Austrian energy group OMV, Alfred Stern, currently sees hardly any possibility to get out of the Russian business with natural gas. He also sees no alternative to fossil fuels in the short term and talked about relations with Asia-Pacific.

March 28, 2023

City of Vienna: Europe's Nuclear Energy Sector is Heavily Dependent on Russia

The European Union's recently adopted tenth package of sanctions against Russia continues to leave one area completely untouched - nuclear energy. A new study by the Cities for Nuclear Free Europe network, where Vienna is also involved, aims to prove interconnections between the European and Russian nuclear sectors.

March 5, 2023