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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 to Sell Petrol Stations to Slovak Slovnaft
The Austrian oil and gas group OMV has already announced its downsizing strategy in the petrol station business. Slovnaft, a Slovak subsidiary of the Hungarian MOL, shows interest.
November 22, 2011
Siemens Austria Finishes Dutch Gas Power Plant
The contract value for the gas and steam power plant amounts to € 570m. 1.4 million households will be served with electricity.
November 21, 2011
Petrom Accused for Breach of Antritrust Rules
The Romanian subsidiary of the Austrian OMV, Petrom, is confronted with alleged breach of antitrust regulations.
November 16, 2011
OMV’s Performance Still Impacted by Libyan Production Shortfalls
The Austrian oil and gas company reported strong results for the first nine months of the year. Group EBIT was up by 11% year-on-year.
November 9, 2011
OMV Considers € 1.5bn Credit Line
The Austrian oil and gas company is negotiating a major credit facility with a term of five years.
November 4, 2011
PKN Orlen Interested in OMV´s Petrol Stations
The Austrian oil corporation OMV downsizes its operations in the Czech Republic. 220 Petrol stations are for sale.
October 31, 2011
BP Determines Purchase Contracts With OMV
The Austrian subsidiary of British Petrol ends up contracts with the Austrian oil corporation. Possibly better conditions should be negotiated.
October 31, 2011
WIFO Alarms: Petrol Price Has to Increase
The petrol price should be increased annually by six percent. Tobacco should be more expensive as well, claims WIFO’s (Austrian Institute of Economic Research) head Karl Aiginger. However, taxes on labor should fall.
October 24, 2011
Hungarian MOL and Austrian RAG Cooperate for Exploration and Production in Hungary
Hungarian MOL (Magyar Olaj- és Gázipari Nyrt.) and Austrian RAG (Rohöl-Aufsuchungs Aktiengesellschaft) have signed agreements to perform activities in the exploration and development of the Inke license south of lake Balaton in Hungary, released MOL.
October 24, 2011
OMV Raises Production and Margins
The Austrian oil and gas company increased total production by 3%. Hedges adversely impacted EBIT by € 44m in the period from July to September.
October 21, 2011
OMV Buys Gas Discovery from Norwegian Noreco
Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license on Haltenbanken to Austrian OMV.
October 21, 2011
Financial Syndicate for Nabucco Arising
The Austrian OeKB intends to conduct a financial consortium for the gas pipeline project Nabucco.
October 15, 2011
OMV to Resume Oil Production in Libya
The Austrian oil corporation had to abandon oil production in Libya at the beginning of the year. Now, OMV wants to continue its operations.
October 10, 2011
OMV’s Petrom Opens Wind Park in Romania
The subsidiary of the Austrian energy group invested a total of € 90m. The park has an installed capacity of 45 MW.
October 7, 2011
OMV Issues Eurobond
The Austrian oil and gas corporation OMV has further extended its average maturity of debt by issuing a Eurobond with a volume of € 500m, a maturity of 10 years and a coupon of 4.25%.
October 5, 2011
Ukraine Guarantees Gas Supply to Austria
The Ukraine invites Austrian companies to construct liquefied gas terminal.
October 5, 2011
Czech RWE-Subsidiary Plans Pipeline Through Austria
The operators of a gas pipeline “5GL” in the Czech Republic, Austria, Bavaria and Slovenia are considering to build a new pipeline connecting the Souther Czech Republic with Italy and Slovenia.
October 4, 2011
OMV: Withdrawal from Czech Republic Possible
The Austrian energy company plans to leave the Czech petrol station market, reports the Czech Television (CT). Proceedings will be needed for the expansion of the gas business.
October 3, 2011
Nabucco Bids for Gas Field in Azerbaijan
The Asiatic country will publish its decision by the end of 2011. Three candidates submitted their offers.
October 1, 2011
Nabucco Welcomes Bayerngas’ Intent to Become New Shareholder
Nabucco Gas Pipeline International GmbH welcomes Bayerngas’ intent on becoming one of the Nabucco shareholders. Negotiations with the six current shareholders will begin immediately to determine the future share split within the consortium.
October 1, 2011
Spindelegger Wants New Impetus for Nabucco
The Austrian Vice-Chancellor calls for a quick realization of the pipeline project which is stalling at the moment.
September 28, 2011
Gas Cartel Investigations Continue
Another office has been searched on Wednesday. Austrian oil and gas company OMV does not see itself in the focus of prosecution.
September 28, 2011
Cartel Suspicions Against OMV
The Commission of the EU suspects ten gas companies of market abuse. The Austrian OMV wants to cooperate with the authorities.
September 27, 2011
BP Plans Rival Project to OMV´s Nabucco
The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.
September 27, 2011
Demanding Sale Program for OMV
Gerhard Roiss, CEO of the Austrian oil and gas company OMV announced to sale assets of more than € 1.0bn.
September 26, 2011
OMV Buys 500,000 Barrels of Condensate in Libya
It is the first supply from the war-torn country for the Austrian oil and gas group since March.
September 22, 2011
OMV Strategy Update: “Profitable Growth”
OMV is hosting a Capital Markets Day and Media Summit in Istanbul to present an update on its strategy. The Strategy builds on growing OMV’s upstream portfolio, on expanding its integrated gas business and on restructuring the oil downstream segment
September 21, 2011
Austria and Azerbaijan Expand Cooperation
An Austrian delegation will hold several meetings with Azerbaijani ministries and private companies.
September 20, 2011
OMV Board Member Werner Auli to Leave Executive Board
After nearly 25 years of active service at the Austrian oil and gas company OMV, Werner Auli will be stepping down as a member of the Executive Board due to health reasons at the end of 2011
September 19, 2011
OMV Publishes New Strategy
Gerhard Roiss became CEO of the Austrian OMV six months ago. This week, Roiss will present the company´s strategy at the capital market´s day in Istanbul, Turkey.
September 19, 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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