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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 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
Austrian Companies Return to Libya
OMV and Asamer have already resumed business, while Strabag is still evaluating damages.
November 30, 2011
C.A.T. oil Maintains Positive Growth Momentum
The Austrian provider of oil and gas field services achieved an all-time high in operating activity levels. Revenue increased by 14.3% to € 74.7m in the third quarter of the year.
November 29, 2011
OMV Discovered Major Gas Field in Austria
The Austrian oil and gas group OMV found a major gas field in Northern Lower Austria. The gas could cover the domestic gas demand for 30 years.
November 26, 2011
OMV Concludes New Syndicated Loans
The Austrian oil and gas company has signed two syndicated multi-currency credit facilities totaling € 1,680m, which replaces existing facilities maturing in 2012.
November 23, 2011
OMV to Sell Petrol Stations to Slovak Slovnaft
The Austrian oil and gas group OMV has already announced its downsizing strategy in the petrol station business. Slovnaft, a Slovak subsidiary of the Hungarian MOL, shows interest.
November 22, 2011
Siemens Austria Finishes Dutch Gas Power Plant
The contract value for the gas and steam power plant amounts to € 570m. 1.4 million households will be served with electricity.
November 21, 2011
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
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