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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria


Petrom Accused for Breach of Antritrust Rules

The Romanian subsidiary of the Austrian OMV, Petrom, is confronted with alleged breach of antitrust regulations.
November 16, 2011


Stable Electricity Consumption of Austrian Households

2003–2010: Overall electricity consumption of private households rose by 3%; highest consumption in one-person households and privately owned houses.
November 14, 2011


€ 400m for Solar Power

Tauernwind, which has built a solar power park in the Austrian Alps, intends to expand substantially.
November 12, 2011


BDI: BioGas Operations Successfully Established on the Market

The Styrian company increased earnings to € 3.2m in the first nine months of 2011 in spite of a moderate decline in sales.
November 10, 2011


OMV’s Performance Still Impacted by Libyan Production Shortfalls

The Austrian oil and gas company reported strong results for the first nine months of the year. Group EBIT was up by 11% year-on-year.
November 9, 2011


Capital Increase for Energie AG

The Upper-Austrian regional energy provider will raise its capital by € 200m.
November 5, 2011


OMV Considers € 1.5bn Credit Line

The Austrian oil and gas company is negotiating a major credit facility with a term of five years.
November 4, 2011


S&P: Austrian Energy Suppliers more Robust than Competitors

Southern European providers are especially affected by the current debt crisis. Austrian companies “seem to be immune”, the rating agency says.
November 3, 2011


BP Determines Purchase Contracts With OMV

The Austrian subsidiary of British Petrol ends up contracts with the Austrian oil corporation. Possibly better conditions should be negotiated.
October 31, 2011


Verbund’s Result Influenced by Impairment Tests

The Austrian electricity group presented an improved operating result for the first three quarters of the year despite weak water supply.
October 27, 2011


Verbund´s Subsidiary APG Going Public?

The IPO of Verbund´s subsidiary Austrian Power Grid is being discussed.
October 25, 2011


WIFO Alarms: Petrol Price Has to Increase

The petrol price should be increased annually by six percent. Tobacco should be more expensive as well, claims WIFO’s (Austrian Institute of Economic Research) head Karl Aiginger. However, taxes on labor should fall.
October 24, 2011


OMV Raises Production and Margins

The Austrian oil and gas company increased total production by 3%. Hedges adversely impacted EBIT by € 44m in the period from July to September.
October 21, 2011


OMV Buys Gas Discovery from Norwegian Noreco

Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license on Haltenbanken to Austrian OMV.
October 21, 2011


Lower Profits for Verbund´s Subsidiary Sorgenia

Sorgenia, the Italian Subsidiary of the Austrian energy corporation Verbund, reports a drastic decrease in net income from € 61m to € 18m. Sales were down by 8.5%.
October 18, 2011


Verbund Signed a € 750m Credit Facility

The Austrian energy corporation secures funding for a period of five years. A credit facility from January 2005 has been replaced.
October 18, 2011


Financial Syndicate for Nabucco Arising

The Austrian OeKB intends to conduct a financial consortium for the gas pipeline project Nabucco.
October 15, 2011


OMV Promotes Nabucco Project Abroad

The Austrian oil corporation OMV pushes the gas pipeline project Nabucco in Turkey, Azerbaijan and Turkmenistan.
October 11, 2011


Verbund´s Subsidiary Expands in Italy

Sorgenia, the Italian subsidiary of the Austrian energy group Verbund, now provides electricity also for private households.
October 11, 2011


Major Pumped-storage Power Plant Commissioned

Austrian Verbund invested € 405m invested in expansion of hydro power. The construction ofa new hydro power plant in the Austrian Alps has been finished.
October 11, 2011


OMV to Resume Oil Production in Libya

The Austrian oil corporation had to abandon oil production in Libya at the beginning of the year. Now, OMV wants to continue its operations.
October 10, 2011


OMV’s Petrom Opens Wind Park in Romania

The subsidiary of the Austrian energy group invested a total of € 90m. The park has an installed capacity of 45 MW.
October 7, 2011


Energieallianz Austria Continues Expansion

The Austrian energy trading company opened its third office in Germany, where supply volumes have increased more than tenfold since 2007.
October 6, 2011


OMV Issues Eurobond

The Austrian oil and gas corporation OMV has further extended its average maturity of debt by issuing a Eurobond with a volume of € 500m, a maturity of 10 years and a coupon of 4.25%.
October 5, 2011


Ukraine Guarantees Gas Supply to Austria

The Ukraine invites Austrian companies to construct liquefied gas terminal.
October 5, 2011


Czech RWE-Subsidiary Plans Pipeline Through Austria

The operators of a gas pipeline “5GL” in the Czech Republic, Austria, Bavaria and Slovenia are considering to build a new pipeline connecting the Souther Czech Republic with Italy and Slovenia.
October 4, 2011


OMV: Withdrawal from Czech Republic Possible

The Austrian energy company plans to leave the Czech petrol station market, reports the Czech Television (CT). Proceedings will be needed for the expansion of the gas business.
October 3, 2011


Bewag Achieved Turnaround

The regional energy provider Bewag turns back to the profit zone. In 2011, CEO Michael Gerbavsits expects a double-digit million figure in profits.
October 3, 2011


Major Bond Issue at EVN

On October 3, 2011, the management board of EVN set the parameters for the issuance of a bond.
October 3, 2011


Nabucco Bids for Gas Field in Azerbaijan

The Asiatic country will publish its decision by the end of 2011. Three candidates submitted their offers.
October 1, 2011


Nabucco Welcomes Bayerngas’ Intent to Become New Shareholder

Nabucco Gas Pipeline International GmbH welcomes Bayerngas’ intent on becoming one of the Nabucco shareholders. Negotiations with the six current shareholders will begin immediately to determine the future share split within the consortium.
October 1, 2011


Voith Hydro Receives Major Order from Russia

The plant manufacturer was awarded a contract for modernization of a Russian hydro power station. Presence in the country will be expanded through a joint venture.
September 29, 2011


Kelag to Invest € 70m in Bosnia-Herzegovina

The Carinthian energy provider signed a contract on the expansion of the hydro power infrastructure in Republika Srpska.
September 29, 2011


Spindelegger Wants New Impetus for Nabucco

The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.
September 28, 2011


Gas Cartel Investigations Continue

Another office has been searched on Wednesday. Austrian oil and gas company OMV does not see itself in the focus of prosecution.
September 28, 2011


Cartel Suspicions Against OMV

The Commission of the EU suspects ten gas companies of market abuse. The Austrian OMV wants to cooperate with the authorities.
September 27, 2011


BP Plans Rival Project to OMV´s Nabucco

The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.
September 27, 2011


Demanding Sale Program for OMV

Gerhard Roiss, CEO of the Austrian oil and gas company OMV announced to sale assets of more than € 1.0bn.
September 26, 2011


OMV Buys 500,000 Barrels of Condensate in Libya

It is the first supply from the war-torn country for the Austrian oil and gas group since March.
September 22, 2011


OMV Strategy Update: “Profitable Growth”

OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment
September 21, 2011


Verbund Said to Seek € 750m Credit Line to Refinance

Verbund AG, Austria’s biggest power company, is seeking a € 750m ($ 1bn) revolving credit facility to refinance maturing debt, according to a person with knowledge of the deal.
September 20, 2011


Austria and Azerbaijan Expand Cooperation

An Austrian delegation will hold several meetings with Azerbaijani ministries and private companies.
September 20, 2011


OMV Board Member Werner Auli to Leave Executive Board

After nearly 25 years of active service at the Austrian oil and gas company OMV, Werner Auli will be stepping down as a member of the Executive Board due to health reasons at the end of 2011
September 19, 2011


OMV Publishes New Strategy

Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 2011


EnBW with New Attempt to Sell Stake in EVN

The German group intends to sell its shares in the Austrian energy company in two or three steps. It currently holds 32.5%.
September 14, 2011


East Coast Minerals Reaches Milestone in Lithium Project

Exploration and mining licenses for the lithium deposit in Carinthia have been transferred to the Australian company.
September 14, 2011


AMSC Cuts Jobs in Austria

The Amercian Superconductor Corporation (AMSC) decided to cut 150 jobs at its subsidiary Windtec. In Austria, 40 positions are concerned.
September 13, 2011


Verbund Expects Drop in Earnings

The Austrian electricity group announced an update of its investment plan and provided guidance on its financial outlook for 2011 and 2012.
September 9, 2011


OMV’s Petrom Receives Approval for License Extension

The subsidiary of the Austrian oil and gas company was allowed to continue exploration works in Romania. The licenses were due to expire on September 12.
September 8, 2011


Joschka Fischer: „Nabucco is in time“

The former Minister of Foreign Affairs of Germany, Joschka Fischer, is optimistic regarding the realization of the Nabucco Gas Pipeline.
September 6, 2011