Read the latest headlines about developments in the international oil and gas industry in Vienna and Austria
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Austria International Oil and Gas Industry News

Romania: OMV Threatened by Extraordinary Tax

Romania´s new Minister of Economics Daniel Chitoiu forces OMV´s subsidiary Petrom to pay higher taxes.

May 8, 2012

Austria Emphasizes Importance of Partnership with Russia

Austrian State Secretary Wolfgang Waldner meets Russian Deputy Foreign Minister Titov.

May 8, 2012

OMV: Rise in Revenues and Earnings Awaited

Analysts expect the Austrian oil and gas company to record substantially improved results. Profits should rise by 57.5%.

May 7, 2012

Nabucco: Azerbaijan´s Nassirov Optimistic

Elshad Nassivor, Vice CEO of the Azerbaijani oil and gas group Socar is optimistic to create a connection with Austria´s gas hub in Baumgarten.

May 5, 2012

Verbund Wants to Leave France

After the sale of its stake in Poweo, the Austrian energy company intends to sell the remaining gas power plants in France.

May 5, 2012

OMV: „Nabucco is More Alive than Ever”

Despite the exit of Hungarian MOL, the Austrian oil company underlines the importance of Nabucco. CEO Roiss holds on Nabucco.

April 28, 2012

OMV Plans Downsizing of Nabucco

The Austrian oil and gas group works on a downsized version of the natural gas pipeline project. The original version would become too expensive, analysts say.

April 25, 2012

MOL May Leave Nabucco Project

Hungarian Prime Minister Viktor Orban said that MOL the country’s largest company by market capitalization, is leaving the € 7.9bn ($ 10.4bn) Nabucco natural gas pipeline project.

April 24, 2012

OMV Raises Production

Due to the economic recovery in Libya, the Austrian oil and gas group OMV increased Oil production.

April 24, 2012

Roiss Claims European „Fracking“ Strategy

OMV´s CEO Gerhard Roiss calls for a common strategy to exploit shale gas. The European industrial sector should become more competitive.

April 18, 2012

OMV´s Petrol Stations: Potential Buyers in Sight

The Austrian oil and gas company OMV plans to sell its petrol stations in Croatia and Bosnia. Local investors show interest.

April 17, 2012

Romanian Government Considers Privatizations

The remaining publicly held stakes in Petrom, a subsidiary of Austrian OMV may be privatized. OMV does not participate in the transaction.

April 10, 2012

„Natural Gas to Become Most Important Energy Source“

Gerhard Roiss, CEO of the Austrian oil and gas group OMV pushes the EU to recognize the importance of natural gas.

April 7, 2012

Bulgaria: Massive Penalty at OMV Subsidiary Threatens

Bulgaria´s Minister of Transport claims the maximum penalty for OMV´s subsidiary, which would reach up to € 1.0bn.

March 24, 2012

Nabucco Sees Decision on Combination With Tanap Next Year

Nabucco Gas Pipeline International GmbH, the € 7.9bn ($ 10.5bn) project to ship Caspian fuel to Europe, expects to make a decision on whether to link up with the competing Trans-Anatolia Pipeline next year.

March 22, 2012

EVN Raises Investments in Croatia

The Austrian energy company expects the beginning of a market consolidation in Croatia. Investments are rising.

March 21, 2012

Petrom Analyzes Romania Shale Gas Exploration Potential

The OMV-owned Petrom SA, Romania’s biggest oil company, is analyzing the potential for shale-gas exploration in the eastern European country.

March 20, 2012

Romanian President Again Critisized OMV´s Petrom

Romanian president Traian Basescu in television again emphasized that he cut ties with largest Romanian company OMV Petrom on ‘incorrect’, high profit-making policy.

March 20, 2012

Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing

Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.

March 17, 2012

Downsizing of Nabucco Plans

The companies behind the proposed 3,900km Nabucco pipeline that would carry natural gas from the Caspian region to Europe have pitched a slimmed-down version of the project.

March 16, 2012

Basescu Criticizes OMV Sharply

The Romanian President Traian Basescu is deeply disappointed of the Austrian oil and gas company OMV. The Romanian subsidiary “made too much profits”, Basescu says.

March 13, 2012

IPIC Intends Further Increase in OMV

The second core shareholder of OMV, the Arab state fund International Petroleum Investment Company, which is situated in Abu Dhabi, plans another rise in its shareholding.

March 8, 2012

EVN to Delist Bulgaria Units

Austria's EVN AG plans to delist its two units in Bulgaria just two months after the trade with their shares started on the local stock exchange.

March 7, 2012

OMV Gives In: No Fracking in Austria

The Austrian oil and gas company OMV reacts to the citizen´s protests and gives up its natural gas exploration plans in Northern Austria.

March 5, 2012

Nabucco: Costs Could Grow Further

The pipeline consortium Nabucco checks whether the project becomes more expensive than expected. Costs of € 15bn are forecasted.

March 3, 2012

Resistance Against „Fracking“ Grows

The oil and gas group OMV plans to exploit shale gas in Northern Austria. Environmental activists claim a prohibition.

February 28, 2012

Merger of Nabucco-TANAP Discussed

Members of the gas pipeline projects Nabucco and TANAP talk about a merger in Vienna. The Turkish Minister of Energy participates therein.

February 28, 2012

Decision on Nabucco Again Postponed

The natural gas consortium „Shah Deniz II“ postpones its decision by one year. OMV´s CEO Gerhard Roiss underlines the importance of a pipeline to the Austrian hub Baumgarten.

February 24, 2012

EVN: Rise in Sales, Decline in Profits Expected

The Austrian energy company will publish its results for the first quarter on February 28. Earnings should rise, profits should fall, RCB estimates.

February 24, 2012

Petrom Discovered Deep Water Gas Offshore Romania

The Romanian subsidiary of the Austrian oil and gas group OMV announces a first major success of its exploration works in the Black Sea together with Exxon Mobil.

February 22, 2012

OMV Surpasses Market Expectations

The Austrian oil and gas company today announced its results for the fourth quarter. Dividends will rise to € 1.10 per share. Clean CCS EBIT was up by 29%.

February 22, 2012

OMV: Market Expects Improvement in Results

The Austrian oil company OMV reports its figures for the fourth quarter of 2011 tomorrow. Analysts anticipate a rise in earnings.

February 21, 2012

Nabucco Still Competes For Gas in Azerbaijan

The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.

February 21, 2012

Doppler Mineral Oil Announces Record in Sales

The largest independent mineral oil trader in Austria recorded sales of € 886.9m (+19%).

February 16, 2012

Decrease in Austrian Oil and Natural Gas Production

In 2011, production of oil was down by 4.7% to 919,437 tonnes. Natural gas production fell by 6.6%.

February 14, 2012

Massive Increase in Energy Consumption

Austrian power plants are running at full speed. Energy supply was up by 14% last week.

February 11, 2012

Gazprom to Double Natural Gas Reserves in Europe

The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.

February 10, 2012

Russian Natural Gas Supply to Normalize

According to the Austrian oil and gas company OMV, gas deliveries from Russia are increasing slightly.

February 8, 2012

Oettinger Expects Succesful Contracts Over Gas Deliveries

The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.

February 8, 2012

OMV: New Executive Board Member for Gas and Power Segment

Hans-Peter Floren to succeed Executive Board Member Werner Auli . Supervisory Board Chairman Markus Beyrer is “delighted with the highly qualified appointment”.

February 6, 2012

Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“

For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.

February 6, 2012

Black Sea: Petrom and Exxon Mobil Found Gas

Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.

February 4, 2012

IPIC May Raise Stake in OMV

IPIC’s request to increase its stake in the Austrian oil and gas company OMV beyond 25% doesn’t require an approval by the Austrian Ministry of Economics.

February 3, 2012

Rising Production at OMV

Due to the resumption of works in Libya, the Austrian oil and gas group announces rising production volumes and slightly improving refining margins.

February 3, 2012

Shortened Natural Gas Supply from Russia

The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.

February 2, 2012

OMV: „No Shortage in Natural Gas Supply“

Russian media reported on natural gas supply reductions for Europe. Gazprom denies, OMV refers to large natural gas reserves.

February 1, 2012

Increase in IPIC´s Shareholding at OMV Approved?

Today, the Austrian Ministry of Economics announced to have decided over IPIC´s application. The Arab fund plans to increase its stake at OMV beyond 25%.

January 27, 2012

Turkey Emphasizes Support for Nabucco

Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.

January 21, 2012

RWE Considers Alternative to Nabucco

German RWE shows interest in rival project TANAP and considers getting out of Nabucco.

January 20, 2012

OMV to Sell Petrol Stations in Croatia and Bosnia

The Russian oil company Zarubezhneft is interested in OMV´s Bosnian and Croatian petrol stations.

January 18, 2012