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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: Market Expects Improvement in Results
The Austrian oil company OMV reports its figures for the fourth quarter of 2011 tomorrow. Analysts anticipate a rise in earnings.
February 21, 2012
Nabucco Still Competes For Gas in Azerbaijan
The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.
February 21, 2012
Market for Solar Power Shrinks
The Austrian renewable energy market showed a substantial slump in 2011. Subsidies were cut considerably.
February 20, 2012
Doppler Mineral Oil Announces Record in Sales
The largest independent mineral oil trader in Austria recorded sales of € 886.9m (+19%).
February 16, 2012
Decrease in Austrian Oil and Natural Gas Production
In 2011, production of oil was down by 4.7% to 919,437 tonnes. Natural gas production fell by 6.6%.
February 14, 2012
Massive Increase in Energy Consumption
Austrian power plants are running at full speed. Energy supply was up by 14% last week.
February 11, 2012
Gazprom to Double Natural Gas Reserves in Europe
The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.
February 10, 2012
Shortage in Energy Supply: Austria Helps Germany Out
In Germany, wind power plants record a decrease in energy production. German energy suppliers called for Austrian electricity.
February 9, 2012
Burgenland Holding Improves Results
The subsidiary of the Austrian energy supplier EVN is still in the red.
February 9, 2012
Russian Natural Gas Supply to Normalize
According to the Austrian oil and gas company OMV, gas deliveries from Russia are increasing slightly.
February 8, 2012
Verbund Starts Styrian Power Plant
Austria's cutting-edge-thermal power plant is already supplying electricity and district heating. Investment sum totals € 550m.
February 8, 2012
Oettinger Expects Succesful Contracts Over Gas Deliveries
The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.
February 8, 2012
Vorarlberg Invests Massively in Renewable Energy
The Austrian province aims for enlarging renewable energy production together with the South-German energy group EnBW. Investments total € 600m.
February 7, 2012
OMV: New Executive Board Member for Gas and Power Segment
Hans-Peter Floren to succeed Executive Board Member Werner Auli . Supervisory Board Chairman Markus Beyrer is “delighted with the highly qualified appointment”.
February 6, 2012
Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“
For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.
February 6, 2012
Black Sea: Petrom and Exxon Mobil Found Gas
Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.
February 4, 2012
IPIC May Raise Stake in OMV
IPIC’s request to increase its stake in the Austrian oil and gas company OMV beyond 25% doesn’t require an approval by the Austrian Ministry of Economics.
February 3, 2012
Rising Production at OMV
Due to the resumption of works in Libya, the Austrian oil and gas group announces rising production volumes and slightly improving refining margins.
February 3, 2012
Wind Power in Sahara: New Orders for Siemens Austria
The Austrian subsidiary of the German technology group Siemens achieved its first orders for the construction of wind power plants.
February 2, 2012
Shortened Natural Gas Supply from Russia
The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.
February 2, 2012
BDI Receives Major Order from USA
Austrian BioEnergy obtained order for retrofitting a U.S.-based biodiesel plant.
February 2, 2012
Enso Hydro Looking for Hydro Power Plants in SEE
The Austrian hydro power specialist aims for collecting € 70m of Deutsche Bank´s subsidiary DWS. Currently, enso hydro searches for new hydro power projects.
February 1, 2012
OMV: „No Shortage in Natural Gas Supply“
Russian media reported on natural gas supply reductions for Europe. Gazprom denies, OMV refers to large natural gas reserves.
February 1, 2012
Increase in IPIC´s Shareholding at OMV Approved?
Today, the Austrian Ministry of Economics announced to have decided over IPIC´s application. The Arab fund plans to increase its stake at OMV beyond 25%.
January 27, 2012
EVN Acquires Wind Park
The Austrian energy supplier expands its green power portfolio.
January 27, 2012
Bewag Completes Turnaround
After losses in 2010, the Austrian energy supplier could achieve positive results last year.
January 23, 2012
Turkey Emphasizes Support for Nabucco
Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.
January 21, 2012
RWE Considers Alternative to Nabucco
German RWE shows interest in rival project TANAP and considers getting out of Nabucco.
January 20, 2012
OMV to Sell Petrol Stations in Croatia and Bosnia
The Russian oil company Zarubezhneft is interested in OMV´s Bosnian and Croatian petrol stations.
January 18, 2012
Investments in Wind Power to Increase Substantially
In 2012, the Austrian wind power production will be enlarged by 33%. Investments of € 620m are expected.
January 14, 2012
OMV: Libyan Oil Production at 60% of Pre-War Level
The Austrian OMV produces 19,000 barrels per day in Libya. Production can be improved steadily. A Romanian refinery will be sold to the Romanian state.
January 13, 2012
OMV Starts Downsizing Operations
The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.
January 13, 2012
Central European Gas Hub Sets a New Record in Gas Trading
Trading volume of the Austrian gas hub rose to 40 billion cubic metres in 2011. This is an increase by 15% compared to the previous year.
January 13, 2012
OMV Condemned by Antitrust Authorities
Petrom, a subsidiary of the Austrian oil and gas company has to pay a € 85.2m fine in Romania.
January 11, 2012
Petrom and Exxon Explore in Black Sea
Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.
January 9, 2012
Germany Calls for Austrian Electricity
In order to guarantee stability of the German power grid, Austria has to export more electricity to Germany.
January 5, 2012
Too Little Competition for Energy and Pharmaceuticals
According to the Austrian institute of economic research (WIFO), electricity, energy and pharmaceuticals are too expensive.
January 2, 2012
Styrian Mining Company Causes Problems for Austrian Banks
The Austrian mining company Decometal has debts reaching € 250m. Now, the company will be restructured. Loans must be extended.
December 28, 2011
EVN Raises Stake in Bulgarian Subsidiaries
The Austrian energy group acquired additional shares for € 45m in connection with the privatization process in Bulgaria.
December 21, 2011
Energie AG Achieves Strong Growth
The Upper Austrian energy provider recorded an increase in sales of 12.2% in the fiscal year 2010/11. EBIT was down by 2.6% to € 125.6m.
December 16, 2011
Austria to Be By-Passed by South Stream Gas Pipeline
The rival project to Nabucco will not end at OMV’s Central European gas hub.
December 15, 2011
EVN Reports Decline in Profit
The Austrian energy group achieved net profit of € 189.7m in the 2010/11 financial year, a decline of 8.4% from the previous year.
December 15, 2011
Bulgaria Starts Sale of Share in EVN Bulgaria
The Bulgarian state withdraws from the Austrian energy company. 33% of the shares in EVN Bulgaria will be privatized.
December 13, 2011
OMV and Shell Set to Survey Off Great South Basin
The British-Dutch Shell Group and the Austrian OMV Group start research works near New Zealand.
December 12, 2011
Troubles at State Holding ÖIAG
The dividend policy at Telekom Austria is criticized fiercely. Moreover, the new core shareholders at Telekom and OMV cause fears of takeovers.
December 10, 2011
Sale of Croatian OMV Petrol Stations Begins
OMV´s current market share in Croatia is 13%. Almost every major oil company in Europe shows interest.
December 9, 2011
IPIC to Acquire Blocking Minority Threshold
The core shareholder of the Austrian oil and gas company, the Abu Dhabi state fund IPIC, already owns a 24.9% stake. An increase beyond 25% has been announced.
December 6, 2011
OMV Sells Croatian and Bosnian Subsidiaries
In line with the strategy of the Austrian oil and gas company, the sale of the retail and commercial business in Croatia (OMV Hrvatska d.o.o) and Bosnia-Herzegovina (OMV BH d.o.o) is under consideration.
December 6, 2011
OMV Raises Oil Production in Libya
The Austrian oil and gas company OMV receives already about 50% of the pre-war volume. However, a full recovery will need another twelve months.
December 3, 2011
OMV’s Shale Gas Test Drilling Will Cost € 130m
The Austrian energy group sees a 20 percent chance of success for production at the Lower Austrian gas field that was discovered last month.
December 2, 2011
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