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Austria International Oil and Gas Industry News
Read the latest headlines about developments in the international oil and gas industry in Vienna and Austria
OMV Sells Its Marketing Subsidiary in Bosnia-Herzegovina
With this move, OMV Refining & Marketing has completed the next step in implementing the defined divestment program that contributes to reduce the weighting of the Refining and Marketing division in the overall OMV portfolio.
November 30, 2012
OMV Focuses on Black Sea and North Sea
By 2020, the Austrian oil and gas group will ship natural gas from the Black Sea to Austria. Investments in the North Sea region are being fostered.
November 24, 2012
OMV to Expand Production
Until 2016, the Austrian gas and oil group intends to enhance the daily production up to 350,000 barrels.
November 22, 2012
OMV Underlines Necessity of Shale Gas Production
The Austrian oil and gas group stresses that shale gas may reduce the dependency on Russian natural gas.
November 20, 2012
South Stream Pipeline: Construction Works to Begin in December
The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.
November 12, 2012
OMV Fosters its Presence in the UK
The Austrian oil and gas group has been awarded 16 exploration blocks and part-blocks in one of its core growth markets West of Shetlands.
November 9, 2012
OMV: Good Performance Expected
The Austrian oil and gas group will publish the results for the first nine months tomorrow.
November 6, 2012
Croatia Does not Participate in South Stream Pipeline
The Russian gas pipeline South Stream will not run across Croatia. Initially, Croatia was viewed as transit country.
November 5, 2012
South Stream Pipeline: Gazprom Concludes Contract with Hungary
The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.
November 2, 2012
OMV Announces Production Growth
Due to recovery of production in Yemen, OMV´s oil output was up substantially.
October 19, 2012
OMV Signs Major Oil Acquisition in Norway
“A further important move to establish Norway as core country in OMV’s Exploration and Production portfolio”: The Austrian oil group acquires a 20% stake in the Edvard Grieg oil field development from RWE.
October 16, 2012
„Nabucco Is not Dead at All“
The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.
October 9, 2012
OMV Expands in Pakistan
OMV and Latif joint venture partners sign lease deed for the development of Latif gas field in the province of Sindh, Pakistan. Latif field production will contribute around 6,000 boe/d of production to OMV in 2014.
October 5, 2012
OMV Considers Joining Tanap
The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.
September 25, 2012
MOL Announces Massive Investments in Hungary
The Hungarian oil group plans to make investments of € 1.1bn in the next three years.
September 25, 2012
Total, OMV and Repsol pay € 48m for Test Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. The consortium has paid € 48m to Bulgaria.
September 22, 2012
OMV Issues Eurobonds Worth € 1.5bn
OMV raises € 1.5bn in long-dated Eurobonds and announces tender offers for its 2014 Eurobond as well as its 2014 and 2016 Schuldschein loan notes to further extend its debt maturity profile.
September 19, 2012
OMV Gives Up Fracking Plans
The Austrian oil and gas company announced that there will be no shale gas production in Austria.
September 17, 2012
Kuwait Petroleum Interested in Croatian and Bosnian OMV Stations
OMV sells 91 petrol stations in Croatia and Bosnia. After the Croatian INA has announced to have submitted a binding offer, Kwait Petroleum shows interest.
September 14, 2012
OMV Sells 15% Stake in CEGH to Slovak Eurstream
The Austrian oil company reduced its share in Central European Gas Hub from 80% to 65%.
September 14, 2012
INA Underlines Interest in OMV´s Petrol Stations
The Croatian oil group wants to take over the petrol station business of Austrian OMV in Croatia and Bosnia.
September 12, 2012
Croatian INA Submits Offer to OMV
Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.
September 5, 2012
OMV and Total Start Gas Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. Together with the French Total Group and the Spanish Repsol Group, Austrian OMV begins test gas drillings in the Bulgarian Black Sea.
September 1, 2012
South Stream Pipeline May Run Across Croatia
Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.
August 20, 2012
OMV Starts Gas Drillings in Ukraine
Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.
August 17, 2012
Verbund to Sell Stake in Enerjisa?
The German energy group eon is said to be interested in Verbund´s Turkish interest.
August 17, 2012
OMV to Focus on Gas Business
The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.
August 8, 2012
OMV: Higher Profit than Expected
In the second quarter, clean CCS EBIT was at € 865 mn, up 82% vs. Q2/11. Sales grew by 25%. Gearing ratio down to 31% vs. 34% in Q2/11.
August 8, 2012
Proceedings Against Bulgarian Subsidiary of OMV Stopped
The Bulgarian Competition Authority KZK stopped investigations against OMV Bulgaria, Rompetrol, Lukoil and Naftex Petrol. The companies were suspected of price fixing.
August 1, 2012
New Hope for Nabucco West
The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.
July 27, 2012
Roiss Claims Energy Strategy
Gerhard Roiss, CEO of the Austrian energy company OMV, warns of a withdrawal of the energy-intensive industry tot he U.S.
July 26, 2012
OMV: Libyan Output at Pre-War Level
The Austrian oil company could increase its oil production in the second quarter. OMV has to register extraordinary expenses of € 170m.
July 20, 2012
OMV: No Withdrawal from Germany
The Austrian oil company and petrol station operator will not sell the petrol station business in Germany. By contrast, the downsizing program in the SEE region and in the Czech Republic will be continued.
July 19, 2012
OMV Resumes Production Works in Yemen
The Austrian oil and gas group may get oil from Yemen soon. In Bulgaria, OMV participates in exploitation works.
July 17, 2012
Changes in Petrom’s Executive Board
Petrom, the largest oil and gas producer in Southeastern Europe, announces a change in its Executive Board. Starting September 1, 2012.
July 13, 2012
OMV Steps into Deep Water Gas Development in Northern Norwegian Sea
OMV acquires 15% stake in the Aasta Hansteen field development from ExxonMobil and increases its stake in the Norwegian Sea Gas Infrastructure project by 6.15%.
July 13, 2012
Libya: Austrian Companies Face Losses of € 200m
Since the attacks against Libya in 2011, the damage for Austrian companies operating in Libya total € 200m. Major projects had to be postponed.
July 4, 2012
Czech Republic: OMV Withdraws, MOL Expands
The Hungarian oil and gas group purchased 124 petrol stations in the Czech Republic. The Austrian OMV continues its downsizing strategy.
July 4, 2012
OMV Invests in Renewable Energy
Innovation Minister, Doris Bures, and OMV CEO, Gerhard Roiss, open the BioCRACK pilot plant at the OMV Refinery in Schwechat on July 2.
July 3, 2012
Austrian Environmental Minister Against Fracking
Nikolaus Berlakovich thinks that shale gas is no alternative. Fracking would be „extremely environmentally harmful“.
July 3, 2012
Energochemica Enters the Prague Stock Exchnage
Energochemcia SE officially announced its intention to enter the Prague Stock Exchange (PSE). The company wants to focus on acquisitions of key energy and chemical industry companies.
June 29, 2012
OMV´s Petrom: Investments Totaled € 7.7bn Since 2004
Petrom, the Romanian subsidiary of Austrian OMV finalized the upgrade of the crude vacuum distillation unit in Petrobrazi refinery. Investments of approximately € 100m will be made.
June 27, 2012
Austria’s Most Powerful Power Plant Inaugurated
New combined cycle gas turbine plant saves up to two million tons of CO2 annually, the Austrian energy provider Verbund says. The company expects lower results in the first half of 2012.
June 22, 2012
Nabucco „Not Essential“ for EU
For the EU Commissioner Günther Oettinger, it is not important which pipeline ships natural gas to Europe.
June 22, 2012
OMV and Wintershall Sign Upstream Agreement with ADNOC
OMV and Wintershall will appraise the sour gas and condensate field in Shuwaihat in the Western Region of Abu Dhabi. OMV´s CEO Gerhard Roiss sees strengthened relations with the United Arab Emirates.
June 21, 2012
OMV Announces UK North Sea Divestments
OMV divests 5% stake in the Beryl Area producing fields for a consideration of USD 118m and acquires 17.5% stake in Tobermory and Bunnehaven discoveries West of Shetlands, from Statoil (U.K.).
June 20, 2012
Intensive Talks between OMV and Romanian Government
The Romanian Prime Minister Victor Ponta initiated talks with the Austrian oil and gas group OMV. Romania wants to control fuel prices in future.
June 19, 2012
Nabucco: EU Commission is in Doubt
The Commission of the European Union emphasizes that Nabucco is still an option. Nevertheless, there would be cheaper options.
June 18, 2012
„Nabucco Will Die A Hundred Times“
OMV´s CEO Gerhard Roiss promotes the new „Nabucco West“ project and underlines the high probability of success.
June 14, 2012
Austrian E-Control Supports Shale Gas Exploitation
Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.
June 13, 2012
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