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Vienna International Energy Industry News

OMV Considers Joining Tanap

The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.

September 25, 2012

EVN´s Subsidiaries to Delist

EVN: Delisting of EVN's two Bulgarian subsidiaries from the Bulgarian Stock Exchange.

September 24, 2012

Total, OMV and Repsol pay € 48m for Test Drillings in Bulgaria´s Black Sea

Bulgaria wants to reduce its dependence on Russian energy. The consortium has paid € 48m to Bulgaria.

September 22, 2012

Verbund in Turkey: Further Investments Instead of Withdrawal

In August, Verbund was said to sell its stake in Enerjisa to German eon. Now, Verbund may enlarge its investments in Turkey further.

September 19, 2012

OMV Issues Eurobonds Worth € 1.5bn

OMV raises € 1.5bn in long-dated Eurobonds and announces tender offers for its 2014 Eurobond as well as its 2014 and 2016 Schuldschein loan notes to further extend its debt maturity profile.

September 19, 2012

EVN and Verbund Open the Ashta Hydropower Plant in Albania

The project company “Energji Ashta“ and its owners EVN and Verbund are opening the first section of the Ashta hydropower plant (Ashta I) on the Drin River in Northern Albania.

September 18, 2012

OMV Gives Up Fracking Plans

The Austrian oil and gas company announced that there will be no shale gas production in Austria.

September 17, 2012

Kuwait Petroleum Interested in Croatian and Bosnian OMV Stations

OMV sells 91 petrol stations in Croatia and Bosnia. After the Croatian INA has announced to have submitted a binding offer, Kwait Petroleum shows interest.

September 14, 2012

OMV Sells 15% Stake in CEGH to Slovak Eurstream

The Austrian oil company reduced its share in Central European Gas Hub from 80% to 65%.

September 14, 2012

INA Underlines Interest in OMV´s Petrol Stations

The Croatian oil group wants to take over the petrol station business of Austrian OMV in Croatia and Bosnia.

September 12, 2012

RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS

The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.

September 11, 2012

Verbund Commissions 100 MW Wind Farm in Romania

The Austrian energy group´s 100 MW wind farm of Casimcea I, close to the Romanian Black Sea Coast, joins the grid.

September 11, 2012

Germany to Depend on Austria´s Electricity “for the next 50 years“

After Germany´s nuclear exit, the German energy production faces new challenges, Michael Fuchs at the biggest German power grid operator Tennet thinks that Austria and Germany have a symbiotic relationship.

September 8, 2012

Verbund is Said to Sell Stake in Turkish Enerjisa

According to “Kleine Zeitung”, the Austrian energy group Verbund wants to withdraw from Turkey. German eon may purchase Verbund´s stake.

September 6, 2012

Croatian INA Submits Offer to OMV

Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.

September 5, 2012

OMV and Total Start Gas Drillings in Bulgaria´s Black Sea

Bulgaria wants to reduce its dependence on Russian energy. Together with the French Total Group and the Spanish Repsol Group, Austrian OMV begins test gas drillings in the Bulgarian Black Sea.

September 1, 2012

EVN Posts Solid Results

Outlook 2011/12: Group net profit is expected to be at the same level of the previous year. Refinancing syndicated revolving credit facility of € 500.0m.

August 30, 2012

Hungary to Nationalize Energy Industry

Viktor Orban´s government plans to acquire the Hungarian subsidiary of German eon.

August 29, 2012

Verbund Invests in German Wind Power

With the acquisition of five wind farms in Germany, the Austrian energy company enlarges its hydropower portfolio.

August 23, 2012

Verbund: Sale of Enerjisa May Bring Synergies

The German energy group eon is said to be interested in Verbund´s stake in the Turkish Enerjisa. In exchange, Verbund should receive hydro power plants in Southern Germany and Austria.

August 20, 2012

South Stream Pipeline May Run Across Croatia

Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.

August 20, 2012

Austrian Technology at Green Expo 2012

From September 25, 2012 - September 27, 2012, Technology “made in Austria” will be presented at the "Green Expo 2012” in Mexico City.

August 20, 2012

OMV Starts Gas Drillings in Ukraine

Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.

August 17, 2012

Verbund to Sell Stake in Enerjisa?

The German energy group eon is said to be interested in Verbund´s Turkish interest.

August 17, 2012

OMV to Focus on Gas Business

The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.

August 8, 2012

OMV: Higher Profit than Expected

In the second quarter, clean CCS EBIT was at € 865 mn, up 82% vs. Q2/11. Sales grew by 25%. Gearing ratio down to 31% vs. 34% in Q2/11.

August 8, 2012

Verbund: Erste Group Pessimistic

The Austrian energy company is expected to record lower earnings in the coming years.

August 7, 2012

Proceedings Against Bulgarian Subsidiary of OMV Stopped

The Bulgarian Competition Authority KZK stopped investigations against OMV Bulgaria, Rompetrol, Lukoil and Naftex Petrol. The companies were suspected of price fixing.

August 1, 2012

New Hope for Nabucco West

The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.

July 27, 2012

Roiss Claims Energy Strategy

Gerhard Roiss, CEO of the Austrian energy company OMV, warns of a withdrawal of the energy-intensive industry tot he U.S.

July 26, 2012

Verbund Increases Operating Result and Group Result

Verbunds´Operating result: +11.9% to € 434.7m Group result: +12.4% to € 198.2m 2012 outlook: operating result of about € 800m, Group result of about € 350m.

July 25, 2012

Verbund: Substantial Rise in Net Income Expected

Tomorrow, the Austrian energy company Verbund will announce ist first quarter results for 2012.

July 24, 2012

Verbund Modernises Styrian Hydropower Plants

Austrian Verbund invests € 400m in hydropower plants. „Annual electricity requirements of all private households in Styria already met with clean hydropower.“

July 20, 2012

OMV: Libyan Output at Pre-War Level

The Austrian oil company could increase its oil production in the second quarter. OMV has to register extraordinary expenses of € 170m.

July 20, 2012

OMV: No Withdrawal from Germany

The Austrian oil company and petrol station operator will not sell the petrol station business in Germany. By contrast, the downsizing program in the SEE region and in the Czech Republic will be continued.

July 19, 2012

OMV Resumes Production Works in Yemen

The Austrian oil and gas group may get oil from Yemen soon. In Bulgaria, OMV participates in exploitation works.

July 17, 2012

Changes in Petrom’s Executive Board

Petrom, the largest oil and gas producer in Southeastern Europe, announces a change in its Executive Board. Starting September 1, 2012.

July 13, 2012

OMV Steps into Deep Water Gas Development in Northern Norwegian Sea

OMV acquires 15% stake in the Aasta Hansteen field development from ExxonMobil and increases its stake in the Norwegian Sea Gas Infrastructure project by 6.15%.

July 13, 2012

Libya: Austrian Companies Face Losses of € 200m

Since the attacks against Libya in 2011, the damage for Austrian companies operating in Libya total € 200m. Major projects had to be postponed.

July 4, 2012

Czech Republic: OMV Withdraws, MOL Expands

The Hungarian oil and gas group purchased 124 petrol stations in the Czech Republic. The Austrian OMV continues its downsizing strategy.

July 4, 2012

OMV Invests in Renewable Energy

Innovation Minister, Doris Bures, and OMV CEO, Gerhard Roiss, open the BioCRACK pilot plant at the OMV Refinery in Schwechat on July 2.

July 3, 2012

Austrian Environmental Minister Against Fracking

Nikolaus Berlakovich thinks that shale gas is no alternative. Fracking would be „extremely environmentally harmful“.

July 3, 2012

Austrian Showcase in Seoul: Renewable Energy and Biomass

From 22. October 2012 to 23. October 2012, Austrian Know-How in the fields of Forest machinery, renewable energy and biomass will be presented in Seoul.

July 2, 2012

Energochemica Enters the Prague Stock Exchnage

Energochemcia SE officially announced its intention to enter the Prague Stock Exchange (PSE). The company wants to focus on acquisitions of key energy and chemical industry companies.

June 29, 2012

Austrian Presence at Intersolar North America

Austrian companies will show their new innovations in San Francisco, California on July 10 – 13.

June 28, 2012

Kelag Invests € 60m in Kosovo

The Austrian regional energy supplier celebrated the ground-breaking ceremony of a major power plant in Kosovo this week. Investments will total € 60m.

June 27, 2012

OMV´s Petrom: Investments Totaled € 7.7bn Since 2004

Petrom, the Romanian subsidiary of Austrian OMV finalized the upgrade of the crude vacuum distillation unit in Petrobrazi refinery. Investments of approximately € 100m will be made.

June 27, 2012

Austria’s Most Powerful Power Plant Inaugurated

New combined cycle gas turbine plant saves up to two million tons of CO2 annually, the Austrian energy provider Verbund says. The company expects lower results in the first half of 2012.

June 22, 2012

Nabucco „Not Essential“ for EU

For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.

June 22, 2012

Intensive Talks between OMV and Romanian Government

The Romanian Prime Minister Victor Ponta initiated talks with the Austrian oil and gas group OMV. Romania wants to control fuel prices in future.

June 19, 2012
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