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Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
Strong Growth in Results for OMV
The Austrian energy company OMV records a strong increase in EBIT as well as profitability.
February 24, 2011
OMV Expects Reduction in Oil Production in Libya
The Austrian energy company, which also operates in Libya, cannot eliminate any possibility of a decline in the oil production anymore.
February 23, 2011
Libya: Withdrawal of Austrian Companies
Most Austrian companies are getting their employees out as the result of violent riots in Libya.
February 22, 2011
Southstream: Gazprom-OMV Cooperation
OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.
February 22, 2011
OMV Observes Riots in Libya and Yemen „thoroughly“
The Austrian oil company OMV is not concerned by the current turmoils in Libya and Yemen. However, OMV watches the incidents permanently.
February 21, 2011
OMV Closes Acquisition of Pioneer’s Subsidiaries in Tunisia
OMV paid $ 800m plus $ 39.3m working capital and remains committed to maintaining a strong investment grade
February 19, 2011
EU Requests Nabucco to Enter a Cooperation
The European Union is pushing a merger between Nabucco and the ITGI pipeline project.
February 18, 2011
Increase in Electricity and Gas Consumption
Austrian electricity consumption rises to the level before the economic crisis. Gas consumption is also showing a new record.
February 16, 2011
Oil Production Declined in Austria
Domestic oil production fell last year by 3.3% to 965,112 tons. Gas production increased however.
February 16, 2011
Australian Mining Company Seeks to Extract Lithium
Europe's largest lithium reserves are considered to be in the Austrian Alps. There is already interest for its extraction in Australia.
February 12, 2011
Market Adjustments at the Gas Stations Business
Doppler, the largest private operator of gas stations in Austria predicts a decline in the gas station network.
February 11, 2011
OMV Capital Increase Likely
Due to massive acquisitions in recent months, the Austrian OMV has to refinance. A capital increase is the most favorable option.
February 9, 2011
Verbund Intends to Grow in Italy and France
The Austrian-Italian joint venture Sorgenia is to expand its commitment to renewable energies in Italy and France.
February 9, 2011
Energie AG Plans Capital Increase
The Upper-Austrian energy company is to raise funds in order to realize further investment projects.
February 7, 2011
Purchase of Petrol Ofisi Lowers OMV´s Results
In its Trading Statement Q4/10, OMV announces extraordinary expenses due to the major purchase of the Turkish Petrol Ofisi amounting to € 170m.
February 5, 2011
OMV Sells OMV Wärme VertriebsgmbH
The buyer is a consortium led by RWA Raiffeisen Ware Austria AG. The Austrian energy company OMV regards its heating oil business as being restructured.
February 5, 2011
Oettinger Increases Pressure on OMV
In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.
February 4, 2011
Investments in Renewable Energies in the CEE are booming
According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.
February 4, 2011
Ruttenstorfer Acquitted
The trial against Ruttenstorfer, CEO of the Austrian oil company OMV took place yesterday. Ruttenstorfer had been charged for insider trading.
January 28, 2011
Hope for Austria's Photovoltaic Industry
The development of alternative energy sources is being pushed by additional funding. EVN is also promoting alternative energies.
January 28, 2011
Verbund: Two Board Posts Vacant
The Austrian energy company advertises two executive board posts.
January 28, 2011
Slow Progress for Nabucco
The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.
January 26, 2011
Ruttenstorfer Fine Confirmed
The fine imposed to the CEO of Austrian OMV, Wolfgang Ruttenstorfer, for market manipulation, remains standing.
January 22, 2011
Upper Austrian Manufacturing Industry on Investment Course
AMAG and Lenzing show ambitions to be listed again on the Vienna Stock Exchange. Energie AG massively increases its investment budget.
January 21, 2011
EnBW Intends to Expand Engagement in Austria
The core shareholder of the Austrian company EVN plans further expansions abroad, especially in the "Alpine countries".
January 21, 2011
ADX Energy Ltd Continues Operations in Tunisia
The Australian/Austrian ADX Energy Limited (ASX:ADX) announced to continue its operations in Tunisia
January 19, 2011
OMV Pulls its Staff out of Tunisia
Due to the recent developments in Tunisia, the Austrian OMV pulls back to a large extent. The cardboard manufacturer Mayr-Melnhof stays on.
January 18, 2011
Austria's wind Energy Expands
After years of stagnation, capacities for wind energy are now being expanded again. IG Windkraft considers that subsidies are too low.
January 15, 2011
New Charges against Ruttenstorfer
The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011
New Perspectives for Nabucco
The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011
Agrana´s Upward Trend Continues
With a strong third quarter, Agrana, the Austrian sugar, starch and fruit group, continued its positive performance of the current financial year.
January 14, 2011
Turkish Electricity Market Threatens to Collapse
The increasing energy demand in Turkey is facing a lack of infrastructure. Austrian Verbund will expand its investments.
January 13, 2011
Energie Steiermark Acquires Majority Stake of Gas Supplier in Belgrade
67% of Serbian Beogas are being taken over by the Styrian energy company.The concession covers a service area in the Serbian capital, with over 400,000 customers.
January 10, 2011
EVN Elects New Supervisory Board
The majority shareholder of the Austrian energy company EVN submitted a proposal regarding the new supervisory board elected on January 20.
January 10, 2011
OMV: Moody´s Warns Against Downgrade
The Austrian energy group has to refinance its acquisitions in Turkey and Tunisia. The American rating agency puts pressure on OMV.
January 10, 2011
OMV: Market Predicts Capital Increase
Due to acquisitions and the rating situation, analysts expect a capital increase of Austria's energy group.
January 7, 2011
OMV Expands in Tunisia
OMV acquires Tunisian Exploration and Production (E&P) subsidiaries of Pioneer Natural Resources for $ 800m plus working capital.
January 6, 2011
Green Electricity Costs are Rising in Austria
Transfer pricing for the E-business rises in 2011, depending on the type of production, between 2.7 and 25.6%
January 3, 2011
Italian Support for Nabucco
The Italian power company Edison cooperates with the Nabucco gas pipeline project. The aim is to create synergies.
December 28, 2010
REWE Group Focuses on Wind Power
6500 MWh of electricity per year are generated by wind turbines in the Lower Austrian Haindorf. The energy produced is bought by the REWE Group.
December 28, 2010
Further Rise in Energy Prices for Households
Austrian energy prices in November 2010 were higher by 5.8% compared to the previous year. Only gas became cheaper.
December 27, 2010
Slight fall in profits at Wien Energie
The municipal energy supplier achieved in the last fiscal year mostly stable results. Sales remained virtually unchanged.
December 24, 2010
OMV Gas Project is Delayed
Austria's OMV is involved in a joint venture for a liquid gas project in Croatia. Delays are expected.
December 23, 2010
OMV Closes Acquisition of 54.14% in Petrol Ofisi
OMV, an Austrian energy group, completed the acquisition of a 54.14% stake in Petrol Ofisi A.S.
December 22, 2010
Changes in Board of Bewag have been Completed
The energy supplier from Burgenland gets a new board after a seven-week long call for tenders.
December 22, 2010
Verbund Starts Restructuring in France
The Austrian energy company takes full control of the Poweo production subsidiary Poweo Production S.A.S.
December 22, 2010
Further Increases in Prices of Industrial Goods
Increase in industrial producer prices in October 2010 is, according to Statistik Austria, +4.0% compared with the same month last year.
December 20, 2010
EVN Reports Growing Results
The energy provider from Lower Austria could raise its EBIT by 6.9%. EBITDA grew by 11.6%. Revenues remained stable.
December 16, 2010
EVN: Changes in the Executive Board of EVN
The energy supplier located in Lower Austria announces the early retirement of Burkhard Hofer, member and spokesman of the Executive Board.
December 15, 2010
Linz AG: Decrease in Operating Profits
The Upper-Austrian energy supplier experiences a slight increase in sales. Profits declined. However, the board states to be “satisfied”.
December 14, 2010
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