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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
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
Nabucco: EU Commission is in Doubt
The Commission of the European Union emphasizes that Nabucco is still an option. Nevertheless, there would be cheaper options.
June 18, 2012
Austria Among European Renewable Energy Nations
The contribution of renewable energy was up to 12.4% of energy consumption in the EU27 in 2010. The highest share is observed in Sweden, Latvia, Finland, Austria and Portugal.
June 18, 2012
„Nabucco Will Die A Hundred Times“
OMV´s CEO Gerhard Roiss promotes the new „Nabucco West“ project and underlines the high probability of success.
June 14, 2012
Austrian E-Control Supports Shale Gas Exploitation
Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.
June 13, 2012
OMV Negotiates Petrol Station Sale with Russian Zarubezhneft
The Austrian oil and gas group OMV intends to sell its petrol station network in Croatia and Bosnia. The Russian Zarubezhneft seems to be interested.
June 12, 2012
Austrialian Mining Company Plans to Exploit Lithium in Austrian Alps
Global Strategic Metals NL plans a site with an investment volume of € 125m in Austria. For Austria, the lithium deposits would be a „highly strategic asset“.
June 9, 2012
Verbund and EVN Develop Hydro Power Projects in Albania
The Austrian energy companies are interested in developping hydro power projects in the Western Balkan country. The investment volume reaches € 80m.
June 6, 2012
EVN Takes up € 500m Loan
The Austrian energy company secured fefinancing of ist existing syndicated revolving credit facility.
June 4, 2012
Solar Heating Specialist TiSUN expands to Asian markets
In 2011 the Austrian company, TiSUN GmbH, established a subsidiary company in Mumbai, TiSUN-EDES Solar (India) Pvt. Ltd., in order to be able to service the vast Asian market more efficiently.
June 1, 2012
Energy: Germany and Austria Agree on Closer Cooperation
German dena and Austrian Verbund advocate stronger German-Austrian energy partnership and aim to build more pumped storage power plants for the integration of wind and solar power.
June 1, 2012
Stable Results at EVN
The Austrian energy supplier reports stable revenues and earnings in the first quarter of 2012. Net income soared by 13.6%.
May 31, 2012
„Nabucco Is Still an Option“
Elshad Nassirov, Vice-Chairman oft he Azerbaijani gas company Socar, argues that BP´s statement about Nabucco was premature.
May 29, 2012
BP: „Nabucco is Dead“
British Petroleum pronounces the initial Nabucco project dead. RWE supports the new version “Nabucco West”.
May 25, 2012
OMV Faces Extraordinary Tax in Romania
OMV´s Romanian subsidiary Petrom is threatened by an extraordinary tax for oil companies. The tax should be introduced in 2013.
May 19, 2012
“Nabucco West” Submits Proposal
The proposal for the downsized “Nabucco West” Scenario was submitted to Shah Deniz II Consortium.
May 18, 2012
Sorgenia Develops New Business Model
The Milan-based Sorgenia, in which Austrian Verbund has an interest, has developed a balanced portfolio of activities in Europe and South America with a substantial growth potential.
May 18, 2012
Another Setback for Nabucco
The German RWE considers leaving the natural gas pipeline consortium. Also the Hungarian MOL will exit.
May 16, 2012
BDI: Sharp Cut in Earnings
BDI - BioEnergy International AG, specialised plant manufacturer in the Waste to Energy field, recorded a massive decrease in revenues and profits.
May 12, 2012
Dividend Increase at OMV
OMV’s Ordinary Annual General Meeting has approved a dividend of € 1.10 per share for 2011 as well as all other agenda resolutions.
May 11, 2012
Petrom Posts Strong Rise in Earnings
The Romanian subsidiary of Austrian OMV could raise its EBIT by 38% compared to the first quarter of 2011.
May 9, 2012
OMV Announces Higher Profits
The Austrian oil and gas company published results for the first quarter of 2012. EBIT was up by 7%, net income rose by 17%.
May 9, 2012
Romania: OMV Threatened by Extraordinary Tax
Romania´s new Minister of Economics Daniel Chitoiu forces OMV´s subsidiary Petrom to pay higher taxes.
May 8, 2012
Austria Emphasizes Importance of Partnership with Russia
Austrian State Secretary Wolfgang Waldner meets Russian Deputy Foreign Minister Titov.
May 8, 2012
Global Demand for Solar Technology from Austria
Riyadh, the capital of Saudi Arabia, is currently home to the world's largest solar thermal plant. The technology behind this plant came from Austria.
May 8, 2012
OMV: Rise in Revenues and Earnings Awaited
Analysts expect the Austrian oil and gas company to record substantially improved results. Profits should rise by 57.5%.
May 7, 2012
Nabucco: Azerbaijan´s Nassirov Optimistic
Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.
May 5, 2012
Verbund Wants to Leave France
After the sale of its stake in Poweo, the Austrian energy company intends to sell the remaining gas power plants in France.
May 5, 2012
Verbund Posts Substantial Improvement in Earnings
Operating result rose by 22.2% to € 263.6 m. Group profit increased by 10.16%. Nevertheless, the Austrian energy company remains below market expectations.
May 3, 2012
Common Energy Strategy for Germany, Austria and Switzerland
After the German nuclear exit, Switzerland and Austria should act as “green battery”.
May 2, 2012
OMV: „Nabucco is More Alive than Ever”
Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.
April 28, 2012
Vorarlberger Kraftwerke: Slight Increase in Results
Net income moved from € 40.2m to € 43m. Revenues reached 449.2m.
April 28, 2012
Sorgenia Will not be Sold
The Italian energy group will not be sold. The major owner CIR declines market rumors.
April 26, 2012
OMV Plans Downsizing of Nabucco
The Austrian oil and gas group works on a downsized version of the natural gas pipeline project. The original version would become too expensive, analysts say.
April 25, 2012
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