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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
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
Noricum Announces Significant Gold Mineralization at Austrian Projects
The London-based gold exploration and development company gives a positive update regarding the exploration program at its projects in south-central Austria.
September 5, 2011
C.A.T. oil: EBIT Burdened by Higher Depreciation Expenses
The Lower-Austrian provider of oil and gas field services reported mixed results. Revenues increased by 24.4%, EBIT declined by 19.4% to € 10.0m.
August 30, 2011
ADX: Sidi Dhaher Well Spudded
The Austro-Australian oil and gas exploration and appraisal company started drilling operations for the Tunisian exploration well.
August 29, 2011
OMV Affected by Sanctions against Syria
The Austrian oil and gas company does not have a local production but buys 7% of its oil supplies from the Arabic country.
August 29, 2011
EVN with Slightly Better Results after Nine Months
The Austrian energy company recorded a marginal drop in revenue. Group net profit amounted to € 207.2m, up 1.2% from the prior-year.
August 25, 2011
Ecowind Acquired by German BayWa
Europe’s largest agricultural trading company pays € 4.6m for a 90% stake in the Austrian project company.
August 23, 2011
ADX Buys Back 20% Interest in Lambouka
The Austro-Australian oil and gas exploration and appraisal company increases its interest in the Tunisian prospect area to 50%.
August 17, 2011
BDI - BioEnergy Expands Bio Gas Plant Operations
The Styrian company raised EBT by 37.3% year-on-year despite lower sales. Bio gas plants already account for 24% of total orders on hand.
August 11, 2011
OMV’s Results Impacted by Political Turmoil
The events in North Africa and the Middle East adversely impacted results of the Austrian oil and gas group: clean CCS EBIT and net income were both down 25%.
August 10, 2011
VKW with Declining Profits in the First Half of 2011
The regional energy company reported a drop in power generation due to the dry weather in the period from January to June.
August 3, 2011
Hypo Alpe Adria Sells Off German Biogas Plants
The Austrian nationalized bank pulls out of the biogas sector. Sale of its plants in Austria is planned for the second half of 2011.
August 2, 2011
BDI Increases Shareholding in Enbasys
The Styrian company listed at the Frankfurt Stock Exchange raised its stake in the bio gas specialist to 81%. Acquisition of the remaining shares is about to be completed.
July 29, 2011
Verbund Reports Drop in Group Result and Sale of French Poweo
The Austrian electricity group suffered from extraordinarily weak water supply in the first six months of the year. The stake in French Poweo will be sold to competitor Direct Energie.
July 27, 2011
Verbund’s Sorgenia Starts Eco-Subsidiary in Italy
Sorgenia Green is planning to invest € 500m in geothermal energy and hydro power projects in the next five years.
July 26, 2011
OMV: Total Production Declined by 14%
In the second quarter, the Austrian oil and gas company registered a significant drop in production. Sales volumes in the gas business increased by 43%.
July 22, 2011
EVN Expands in Bulgaria
The Austrian electricity company invested € 5m in the construction of a solar power station in Bulgaria and increased its stake in a joint venture project in the country.
July 21, 2011
New Attempt for Oil Pipeline Bratislava – Schwechat
New impetus for the Austro-Slovak infrastructure project: The pipeline would link OMV to the Russian network.
July 20, 2011
Verbund Sold Renewables Portfolio to Axa Private Equity
The Austrian electricity company disposed of Poweo’s renewable energy business as a step towards restructuring of its portfolio in France.
July 19, 2011
OMV Announces Re-Development of Schiehallion Oil Field
A joint venture including the Austrian oil and gas company will spend € 3bn on a major re-development of the Schiehallion oil field to the west of the Shetland Islands.
July 13, 2011
OMV Closes Acquisition of Petronas Carigali
The Austrian oil and gas company purchased the exploration and production entity of Petronas in Pakistan. Strong growth potential is expected in the country.
July 12, 2011
OMV’s Petrom Makes Significant Gas Discovery
The Austrian energy group’s subsidiary made a gas discovery in Romania. Further appraisal drilling is planned to assess what may be the most important onshore gas discovery in the country in the last six years.
July 7, 2011
EVN Concludes Acquisition of Stake in Inn Power Plants
The Austrian electricity company purchased a 13% stake in Verbund’s hydroelectric power plants on the Inn river.
July 5, 2011
Verbund: Speculations about Increase in Sorgenia Stake
The Austrian electricity company might sell its shares in Poweo and instead acquire its joint venture partner’s stake in Sorgenia.
July 1, 2011
Increase in Austrian Electricity Price below EU Average
Electricity and gas are relatively expensive in Austria compared to other EU countries. The electricity price rose by 1.1% in 2009/10.
June 29, 2011
Verbund to Restructure Its Portfolio
The Austrian electricity company is negotiating the sale of French Poweo. Eni and Enel are said to be interested in an acquisition.
June 27, 2011
EU Commission Blocks OMV’s Deal with Gazprom
The Austrian oil and gas company does not get its desired Russian partner as the EU Commission has rejected a share transaction between the two companies.
June 20, 2011
Verbund: New Wind Farm in Romania
The Austrian electricity company will invest “several hundred million euros” in 77 new wind wheels which will go into service in 2012.
June 17, 2011
ADX Energy to Start Oil Drilling in Tunisia
The Tunisian army will guard the drilling project of the Austro-Australian oil and gas exploration and appraisal company at the Sidi Dhaher well.
June 10, 2011
Verbund Evaluating Future Options for Sorgenia
The Austrian electricity company and its partner, the Milanese industrial holding CIR, will decide about the future shareholder structure of their joint venture.
June 9, 2011
Nuclear Power Phase-Out Will Cost Austria € 600m
According to calculations by E-Control, Germany’s decision to close down its nuclear power plants will affect the Austrian economy.
June 9, 2011
Nabucco Legal Framework Finalized
Project support agreements were signed by each transit country. They are a prerequisite for the successful financing of the pipeline.
June 8, 2011
New Chance for Verbund in Turkey
The Austrian electricity company might win a contract for the power supply in three Turkish provinces after a competitor has withdrawn its bid.
June 6, 2011
OMV with Oil Discovery in Iraq
The Austrian oil and gas company reported promising first results from one of its test drills. Further investigations of the well are planned.
June 3, 2011
UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale
Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.
June 3, 2011
Renaissance for Carinthian Lithium
A currently closed lithium mine in Carinthia will be reopened by an Australian company after its acquisition for a price of € 9.25m. It is the largest deposit in Europe.
May 30, 2011
C.A.T. oil: Results Influenced by Diversification into Third Core Business
The Lower-Austrian provider of oil and gas field services registered a net loss of € 1m due to high tax expense. Revenues increased by 29.4% yoy to € 61m.
May 30, 2011
EVN: 12% Drop in First-Half Net Income
The Austrian energy company recorded a substantial drop in group net income, mainly due to a 30.9% decline in the financial result.
May 26, 2011
OMV: New CEO and Organizational Structure of Its Turkish Operations
Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.
May 25, 2011
Strabag Takes Majority Stake in Project Companies for Offshore Wind Power Plants
The Austrian construction company acquires a 51% interest in a project portfolio with possible 850 locations in the German North Sea.
May 23, 2011
Results of OMV’s Ordinary Annual General Meeting 2011
A dividend of € 1.00 per share and a share buy-back have been approved by the AGM. Markus Beyrer was elected as member of the Supervisory Board.
May 17, 2011
Good Prospects for BDI
The manufacturer of biodiesel could realize rising profits in Q1/2011. However, sales were declining.
May 12, 2011
Romania Offers Export Opportunities for Austria's Environment Industry
18 top Austrian companies active in the areas of environmental technology and renewable energies are present in Bucharest.
May 12, 2011
OMV: Mixed Results in First Quarter 2011
“Strong oil price compensates impact of political instability”, the company states. Net Income declines, cashflows grow by 9%.
May 11, 2011
Austria's Energy Industry Considers the U.S. as a Promising Market
The U.S. market offers opportunities for Austrian technology in solar systems, pellet stoves, biogas, biomass and software to control wind turbines
May 10, 2011
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