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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
Verbund: Further Expansion in Turkey
The power company intends to increase its presence in the rapidly growing Turkish market. But above all, investments will be made in Austria.
November 10, 2010
OMV Announces Results of January – September 2010
Austria´s biggest company posts a strong operating performance compared to previous year.
November 10, 2010
Nabucco: First Deliveries Before Year-End
While sharp criticism of the pipeline project is heard again from Moscow, there is optimism at Nabucco.
November 9, 2010
Windtec: World Market Leader In Only 5 Years
The Carinthian developer of wind turbines has catapulted in just five years to the the position of global market leader.
November 8, 2010
Umweltdachverband: Electricity Industry Power Plant List is Utopian!
Energy projects are unrealistic, alternatives have been ignored and the environment is neglected completely, according to the accusations.
November 8, 2010
Energy Industry: Tough Start for Expansion
The domestic energy industry has numerous plans to expand capacity. However, political will is containing them.
November 5, 2010
Energy Companies are Investing € 6.2 bn
Austria's electricity companies are currently planning the construction and expansion of more than 80 power plants.
November 4, 2010
Change of Leadership at Bewag?
According to reports, there are plans for a premature replacement of the board at the power company from Burgenland.
November 3, 2010
Energy Prices Rise Steeply
An increase of 6.7% was recorded for energy prices in the yearly comparison. The relevance of alternative energy sources will increase significantly in future, as energy price increases are expected to continue in the long term.
November 2, 2010
Verbund: Warning Concerning Profit
Despite worsening results, the Verbund Group holds fast to the capital increase. Core shareholders go along.
October 28, 2010
OMV: Republic of Austria Will Hold On to Its Stake
An informal consultation is said to have been held between the governing parties to keep the government stake in OMV, should there be a capital increase.
October 27, 2010
Financing of OMV-Deal in Turkey Still Open
OMV leaves the financial markets still in the dark as to how it will cope with the acquisition.
October 25, 2010
Large Power Plant in Turkey: Verbund concludes Joint Venture
With an investment volume of 550 million euro, the Verbund operates together with its Turkish partner Sabanci Holding, a gas-steam power plant.
October 25, 2010
New Budget, New Taxes
The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.
October 25, 2010
OMV: Complete Takeover of Petrol Ofisi Fixed
The deal is finished. Turkey will be the third main market for the OMV group.
October 22, 2010
Major Project for Siemens Austria in Georgia
Siemens Austria is involved in a project to develop the electricity industry in Georgia. The infrastructure project will act as a bridge between Russia and Turkey.
October 22, 2010
OMV Deal: Many Questions Without Answer
Not only the extent of the takeover is unknown, but also how it will be financed.
October 22, 2010
A-Tec - Creditors are Demanding more Money
Against the minimum quota of 30 per cent offered by Mirko Kovats 30 resistance is forming. A-Tec announced that the negotiations of the daughter AE & E are well underway on renewal of the credit facility.
October 22, 2010
Increase in Mineral Oil Tax likely
Economy Minister Mitterlehner speaks of a possible moderate increase.
October 21, 2010
EnBW Remains Shareholder at EVN
EnBW decides not to continue the planned secondary offering of shares in EVN AG
October 20, 2010
OMV Plans Complete Takeover of Petrol Ofisi
OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV
October 20, 2010
Verbund Group: Capital Increase has Been Determined
The capital increase for the biggest domestic electricity generator will allow large investments in energy infrastructure and thereby accelerate new power generation projects.
October 20, 2010
Bond Refinancing Collapsed: A-Tec Starts Insolvency Proceedings
After several problems with the refinancing of its corporate bond, A-Tec decides to start a restructuring.
October 20, 2010
A-Tec Wins Major Contract for Project in England
A project in Australia is currently bringing A-Tec financial problems. A new project, however, offers prospects of success.
October 19, 2010
Low-Cost Gas Stations on Unused ÖBB Property
The Austrian Federal Railways (ÖBB) have signed a framework contract with Markus Friesacher for up to 35 low-cost gas stations on dormant property.
October 19, 2010
Verbund´s Subsidiary Sorgenia Achieved Higher Profits
Net income climbed during the first three quarters to 57.6 million euros
October 19, 2010
EVN's Subsidiary RAG Increased Gas Capacities
New capacities are created, gas and oil exploration in Poland and Hungary to be intensified
October 17, 2010
Mineral Oil Tax: A Cash Cow for the Finance Minister
State revenues for the mineral oil tax have risen steadily since 2000. At that time, motorists paid 2.726 billion euro; this year it will be 3.9 billion euro.
October 15, 2010
ADEG Opens First Petrol Station
ADEG, a wholly-owned subsidiary of REWE AG, now expands its business by starting to provide the Styrian petrol stations.
October 14, 2010
Coface CEE Top 500 - Poland Largest Number of Companies in CEE
Poland has the largest number of companies in the Central and Eastern Europe Top 500 with 28.4%. Hungary ranks second with 16.6%, overtaking the Czech Republic, which is home for 13.8% of the CEE Top 500.
October 12, 2010
Postponed: Decision on Nabucco Not Before 2011
Because the talks with the main supplying country Azerbaijan are proceeding with exceeding slowness, the decision about the construction of the pipeline will not be possible this year.
October 8, 2010
Schoeller-Bleckmann Acquired Dubai Based Special Tools Provider
Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, has successfully completed acquisition of Drilling Systems International Ltd. (DSI).
October 5, 2010
EVN resolves on capital increase – transaction together with EnBW
With the Supervisory Board’s approval, the Managing Board of EVN AG has resolved on a capital increase from authorized capital through the issuance of up to 16,352,582 new ordinary no-par value bearer shares.
October 5, 2010
OMV: Gas Reservoir Found in Southern Tunisia
OMV has been successful again in southern Tunisia. "The two additional findings are of economic and strategic importance and round off the success of the present OMV-drilling campaign, with a total of nine strikes in a row."
October 4, 2010
Baur: Sales Growth and Eastward Look.
Baur Prüf- und Messtechnik reported a moderate growth in sales during the crisis year. Now the company wants to continue growing abroad.
October 1, 2010
Energieallianz Austria Creates Subsidiary in Germany
Renewable energies are a rising trend. This has been recognized by the domestic Energieallianz Austria(EAA), a subsidiary of the energy provider for Vienna, Lower Austria and Burgenland.
September 30, 2010
Vienna now has its own Expat Center
In Vienna, the first Expat Center in Austria was opened. The project was handled by the Vienna Business Agency (former WWFF).
September 30, 2010
Insolvencies: Declining Trend for Both Companies and Individuals
KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.
September 28, 2010
Meinl Bank Pays 6 Million Euro: Airport Intl. and Power Intl. Reach a Partial Agreement
Meinl Bank and International Power pull back all the claims against each other, except those in the arbitration court.
September 27, 2010
A-Tec has Good Prospects on Shipping Company in Rijeka
The Croatian Competition Agency (ATZN) gives the Austrian A-Tec group under Mirko Kovats good chances in the bid for the privatization of the shipyard "3 Maj" in Rijeka.
September 24, 2010
Austria Continues Being the Largest Investor in Romania
"Romania is an important market in Eastern Europe for the Austrian economy. Its great importance for us is proved by the fact that Austria is by far the largest investor in Romania"
September 23, 2010
Mitterlehner Meets Hendry: Development of Renewable Energies
The Finance Minister met with the British Energy Minister Charles Hendry for talks about the energy policy in the EU, the development of renewable energy sources and increasing the security of energy supply.
September 21, 2010
Siemens Austria: Corruption Prosecution Expands Investigation
According to a media report, the prosecution has questioned two ex-managers of the group on suspicion of infidelity. They allegedly bribed business partners in South Eastern Europe.
September 21, 2010
Martin Schlaff: Acquisition of Several Latvian Oil Transport Companies Planned
After four years of delay Schlaff is reported to be planning the takeover of several Latvian transport companies.
September 20, 2010
Austria's Management and Supervisory Boards’ Salaries on the Test Bench
The partly state-run OMV had the most expensive board of all Austrian corporations in 2009. In total, the oil company spent 10.2 million euro on its bosses, 23.4% more than the previous year.
September 20, 2010
A-Tec's Subsidiary AE & E: CFO Brandt Moves to Sulzer
AE & E’s CFO, Juergen Brandt, will be CFO of the Swiss industrial group Sulzer. Jürgen Boggild moves to the Board.
September 20, 2010
ÖIAG: ÖVP vs. SPÖ
Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.
September 17, 2010
Liquefied Natural Gas: Plans for a Route from Georgia to Romania
Liquefied natural gas (LNG) is to be shipped from the Georgian port of Kulevi in the direction of Constanta.
September 17, 2010
Hypo Alpe Adria: Greek Entrepreneur Xeniadis Signals his Interest in Buying
The Greek businessman Vasileios Xeniadis is prepared to offer 1.35 billion euro for Hypo Alpe Adria.
September 16, 2010
EVN building cogeneration plant in Plovdiv/Bulgaria
Today, Prime Minister Bokyo Borissov, Provincial Governor Erwin Pröll and EVN's CEO Burkhard Hofer oversaw the ceremony for the construction of a highly efficient cogeneration plant in the city of Plovdiv.
September 13, 2010
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