Vienna International Energy Industry News
Read the latest headlines about developments in the international energy industry in Vienna and Austria
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
Nabucco Announces Further Delay of Pipeline Project
Nabucco Gas Pipeline International GmbH today announces a revised timeline for the Nabucco pipeline project., which is due to a lack in suppliers.
May 6, 2011
Is Nabucco Turning into a Cost Trap?
The Nabucco gas pipeline could be twice as expensive as previously planned, according to sources from Turkey.
May 6, 2011
BDI Receives Major Order in Germany
Enbasys GmbH, a subsidiary of BDI-BioEnergy International AG receives a million-dollar contract with the biogas facility for the German SARIA-Rethmann Group.
May 6, 2011
CEO Roiss: "Gas and Oil Remain the Core Business"
Renewable energies are already part of the program of OMV, said Gerhard Roiss. However, oil and gas will dominate in Europe until 2020.
May 5, 2011
Gas Pipeline Project for EVN
The Austrian energy company EVN to invest € 150m in high-pressure natural gas pipeline
May 4, 2011
Austria's Solar Industry Strives For Technological Leadership
The domestic solar energy industry calls for more research funding to ensure the continuation of success achieved also into the future.
May 4, 2011
A-Tec: Coal Power Plant Will Not Be Converted
The insolvent company pulls back from its request to convert the Styrian power plant Voitsberg III. The total investment would have amounted to € 100m.
May 4, 2011
Wolf Theiss Identifies Opportunities in CEE Electricity Markets
Significant legislative changes particularly in Bulgaria and Romania, two of the most dynamic markets for RES-Electricity in the CEE/SEE region, have resulted in a dramatic increase in investor and other stakeholder interest in such projects.
May 3, 2011
Vorarlberger Kraftwerke: Increase in Net Profits despite Sales Decline
The regional energy company could raise operating profits by more than 13%. Production remained stable.
May 2, 2011
Greenpeace, vida and EVN: "Austria's Future in Energy is Renewable"
The switch to clean energy is possible by 2050, according to a current IHS study. It is to be achieved by halving the demand for energy.
April 30, 2011
WKÖ Considers Nevada as Optimal Trading Partner
Nevada is diversifying towards renewable energies: huge opportunities for Austrian companies are expected.
April 29, 2011
Shutdown Petrochemicals – OMV Plant Overhaul at Schwechat Refinery
The OMV Refinery in Schwechat (Lower Austria) will undergo a further routine shutdown from May 3. This time, the petrochemical plant parts will be out of commission for around one-and-a-half months.
April 28, 2011
Verbund: Development of Operating Result Positive
Verbund, Austria's biggest electricity company, presents a considerable better operating result in quarter 1/2011, but a declining Group result due to one-off effects in the previous year that do not apply in the current reporting period.
April 28, 2011
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