Sponsored Content
Energy Industry
OMV Celebrates 50 Years of Lucrative Natural Gas Business
On 1 June 1968, a historic gas supply contract was signed in Vienna, establishing Austria’s role as a key country in Europe’s natural gas network. The 50-year collaboration with Russia is a win-win situation. Then, as now, natural gas plays a key role in OMV's portfolio, as European demand will continue to increase over the next decades. OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.
June 6, 2018
Putin's Austria Visit: Extension of Gazprom Gas Supply Contract until 2040
OMV has formally confirmed the extension of the gas supply contract with Russia's Gazprom on the occasion of the visit of Russian President Vladimir Putin to Austria by the two CEOs Alexey Miller and Rainer Seele.
June 6, 2018
Vladimir Putin on PR Campaign in Austria
Vladimir Putin is on his sixth official state visit to Austria. Officially, on the occasion of the 50th anniversary of the gas supply contract between Austria and Russia, this is a working visit to President Van der Bellen and Chancellor Kurz. In fact, a new gas supply contract between Gazprom and OMV is the main reason for the visit. Other gas deals are still in the negotiation phase, namely the Gazprom Urengoy gas field asset swap and the Nordstream 2 pipeline project. The Central European Gas Hub in Baumgarten/Lower Austria, an important gas distribution hub from the Russian perspective, could also be on the agenda.
June 5, 2018
Meet OPEC's Secretary General Mohammad Sanusi Barkindo
HE Mr. Mohammed Sanusi Barkindo is the current Secretary General of OPEC. He recently received a prestigious Energy Award for Lifetime Achievement for helping to stabilize the oil price again. He also gave an insight into how OPEC has regained its former strength under his guidance.
May 28, 2018
Vienna Energy Forum 2018: Sustainable Energy Provision as a Key to Tackling Poverty
The sixth Vienna Energy Forum 2018 was held from 14 to 16 May, 2018, at the Vienna International Centre (VIC) and the Hofburg Imperial Palace. It was attended by over 1,800 participants from 130 countries, including prime ministers, ministers, high-level government officials, permanent mission representatives, chairs of the regional groups, donors, as well as representatives of the EU, the private sector and development finance institutions.
May 16, 2018
OMV Group Report Q1 2018: Profit Down 43%, Production Up 30%
Adjusted operating profit amounted to EUR 818 million, up 2% year-on-year. Net income was also in line with forecasts, although net income for the period fell by 43% year-on-year. One of two key events was the signing of a concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC, as well as two satellite fields. The agreed participation fee amounts to USD 1.5 bn and the duration of the contract is 40 years.
May 4, 2018
OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields
An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.
May 4, 2018
Top Energy Events Put Vienna in the Focus of the Global Clean Energy Economy
The Vienna Energy Forum 2018 in May in Vienna brings together a multitude of people and institutions to discuss and solve the key questions of the present on the topic of energy. Among them are heads of state, ministers, energy experts, representatives of international and non-governmental organizations, academia, civil society and the private sector. The PFAN Climate and Clean Energy Investment Forum and the R20 Austria World Summit are also part of this huge event. This event, sponsored by Arnold Schwarzenegger, is a high-level summit about leadership on implementing the Paris Climate Agreement and the United Nations Sustainable Development Goals.
April 19, 2018
OMV Buys Oilfield Shares in Abu Dhabi for USD 1.5 Bln
Listed oil corporation OMV is acquiring 20 percent of two offshore oil fields in Abu Dhabi from the Abu Dhabi oil group ADNOC. The purchase price for the concession and the associated infrastructure amounts to USD 1.5 billion. OMV has already a long relationship with Abu Dhabi. OMV opened a representation office in Abu Dhabi in 2007. Today Abu Dhabi is the location of the Business Hub for OMV´s Upstream Middle East & Africa activities.
April 6, 2018
OSCE: "Reliable, Affordable and Sustainable Energy Supplies are Prerequisite for Stability and Security"
Energy experts from the OSCE Mediterranean Partners for Co-operation, representing both government institutions and private sector companies, will begin a week-long field study of sustainable energy in Austria and Germany.
July 12, 2016
Activ Solar Files for Reorganisation in Austria, Debts Reach EUR 500 Million
Vienna-based Activ Solar GmbH announced that it is bankrupt and that it has filed for reorganization in Austria due to its investment exposure in Ukraine. The company has amassed debts to the tune of EUR 500 million.
February 10, 2016
US Company Contour Moves European Headquarters from Paris to Vienna
The Vienna-based European headquarters will be the strategic centre for all thermal and renewable energy facilities in Austria, Italy, Czech Republic, Romania, Poland, Slovakia, Bulgaria, Armenia, Spain, Northern Ireland and Ukraine.
December 11, 2015
OPEC in Vienna Decides to Keep Production Unchanged
The Organization of the Petroleum Exporting Countries (OPEC) today hosted its 167th Meeting of the OPEC Conference at the OPEC Secretariat in Vienna. Participants included OPEC Heads of Delegation and the Secretary General. There were some expectations that the production goal of 30 million barrels a day could move higher. However, the key issue the market was looking for will remain at 30 million barrels a day.
June 5, 2015
OPEC Member Countries Discuss Global Petroleum Development Strategies in Vienna
The 6th OPEC International Seminar, with the theme "Petroleum - An Engine for Global Development", aims to build on the previous events from the past decade. It is currently taking place at the Imperial Hofburg Palace in Vienna. The Seminar intends to underpin OPEC’s commitment to stabilize the international oil market by promoting cooperation and dialogue with stakeholders around the world.
June 3, 2015
Update: OMV Appoints Outsider Rainer Seele as New CEO
The head of German oil and gas producer Wintershall is going to transfer to Austria’s listed oil and gas concern OMV as of 1 July 2015, taking the place of Gerhard Roiss as CEO. The incumbent CEO is going to leave the company on 30 June. Seele’s appointment as new helmsman of the Austrian firm was hailed as a "corner stone for the company”, by supervisory board head Rudolf Kemler during the press conference. Seele has been appointed for three years and his tenure may get extended by another two years. During his time in Wintershall he managed to raise production by over a half to 385,000 boe/d. Seele is a German citizen. He did not want to disclose his plans for OMV.
March 30, 2015
OMV Appoints Outsider Rainer Seele as New CEO
The Supervisory Board of OMV appointed Rainer Seele (54) as the new Chairman of the Executive Board and CEO of OMV. Rainer Seele has accepted the appointment. He will assume the position effective July 1, 2015 for a three-year period, with an extension option for OMV for further two years. The current Chairman of the Executive Board and CEO Gerhard Roiss will resign from his position on June 30, 2015 as previously announced.
March 27, 2015
OMV Aktiengesellschaft / Announcement pursuant to section 82 para 9 Austrian Stock Exchange Act
OMV Aktiengesellschaft ("OMV" or "Company") intends to transfer treasury shares to members of the Executive Board and senior executives as well as potentials of OMV under the (i) Long Term Incentive Plan (LTIP) 2012 and the (ii) Matching Share Plan (MSP) 2014, based on the resolution of OMV's Supervisory Board of March 18, 2015 and the report pursuant to section 65 para 1b in conjunction with sections 171 para 1 and 153 para 4 Stock Corporation Act which was published on February 26, 2015.
March 18, 2015
Verbund Raises Earnings Forecast and Dividend for 2014
Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).
January 22, 2015
Verbund Withdraws from Bulgaria
Verbund withdraws from Bulgaria by selling its 16 MW wind farm on the Bulgarian Black Sea coast to Inwind Sp Ltd, a project company of Bulgarian Inovent Holding AD. The transaction is scheduled to close by the end of 2014. Both companies agreed on not disclosing any financial details of the transaction.
October 30, 2014
BioEnergy International Expands Business in the USA
Listed technology company BDI BioEnergy International AG has been awarded with a contract for a plant optimisation project in California by Crimson Renewable Energy LP. The contract volume is in the lower single-digit million Euro range.
October 20, 2014
OMV's Gerhard Roiss Resigns from his Position as Chairman and CEO
Tonight, the Supervisory Board of OMV AG and Gerhard Roiss have agreed that Mr. Roiss resigns from his position as Chairman of the Executive Board and CEO as of June 30, 2015. The chief executive is to step down two years earlier than expected. Also the energy group’s management team will be overhauled.
October 14, 2014
Dispute at OMV Supervisory Board
Listed oil and gas group OMV and the state holding ÖIAG are involved in a dispute concerning a new executive board member of OMV. A decision is expected during the supervisory board meeting slated for Tuesday.
October 13, 2014
OMV Executive Board Members Roiss and Floren have to Leave
Bang at Austria's largest industrial conglomerate. The contracts of OMV CEO Gerhard Roiss and fellow board member Hans-Peter Floren are apparently terminated prematurely.
October 9, 2014
OMV Aktiengesellschaft / Executive Board member Jaap Huijskes to leave OMV before the end of his current period of tenure
Today, Jaap Huijskes, member of the Executive Board responsible for Exploration and Production, informed the Chairman of the OMV Supervisory Board, Rudolf Kemler, that he has decided to leave OMV before the end of his current period of tenure on September 30, 2018. Jaap Huijskes intends to step down in the first half of 2016. His decision is based solely on private reasons.
September 16, 2014
Italian SNAM to Acquire TAG Gas Pipeline for EUR 505 Mln
The Italian gas pipeline operator SNAM is going to buy the alpine Trans-Austria-Gasleitung GmbH (TAG), a pipeline running through Austria and the Alps. The price of the pipeline stretch amounts to EUR 505 million, Italian media reports. Austria’s listed oil and gas group OMV holds an 11-percent stake in TAG.
September 15, 2014
Voestalpine to Supply Linepipe Plates for the Second South Stream Pipeline
This year sees the voestalpine Group securing its third major contract in the pipeline business. Following the first, now completed, contract for the Russian-European pipeline project South Stream, and for Rota 3, a pipeline project in Brazil, voestalpine will deliver 120,000 tons of sour-gas-resistant, high-strength linepipe plates for the second South Stream pipeline by spring 2015. The South Stream contract is not affected by sanctions. Further negotiations are also currently underway concerning extremely challenging pipeline projects.
September 5, 2014
Buwog: The ATX of the Vienna Stock Exchange has a New Member
At today's meeting, the Index Committee has decided on changes in the composition of Austrian stock indices. All changes become effective as of 22 September 2014. In the Austrian leading index, ATX, Mayr-Melnhof Karton AG will be replaced by BUWOG AG.
September 2, 2014
Hydrogen: OMV to Invest EUR 20 Mln in Key Technology
OMV is currently conducting intensive research on hydrogen as alternative fuel. According to CEO Gerhard Roiss hydrogen is already part of OMV’s everyday business. The group earmarkes around EUR 20 mln for hydrogen projects.
August 4, 2014
OMV Petrom Finalizes Modernization of Petrobrazi Refinery
OMV Petrom, the largest oil and gas producer in South-Eastern Europe, has announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014. Total investment in the modernization process amounted to around EUR 600 mln. The main target of the investment program was to increase competitiveness. OMV Petrom is now able to process the entire Romanian crude production of OMV Petrom in a single refinery.
July 24, 2014
Analysis: The South Stream Gas Pipeline
Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.
June 25, 2014
OMV to Invest EUR 500 Mio in Tunisia
The Nawara project underlines Tunisia’s significant role in OMV’s portfolio and it is a decisive stage of the key Nawara gas field development project.
May 30, 2014
High Potential for Austrian Investments in Moldova
Austria is one of the most active countries in the CESEE region ranking first in foreign direct investments (FDI) in many countries.
May 22, 2014 · Updated: May 22, 2014; 13:05
Fischer: Room for Further Trade with Albania
Austrian President Heinz Fischer was paying a visit to Western Balkan States.
May 22, 2014
Austrian Prinzhorn Holding to Invest Massively in Hungary
Prinzhorn Holding will build its own power plant in Hungary to supply its paper factory in Dunaujvaros.
May 21, 2014
Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln
Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.
May 21, 2014
OMV to Receive Further Gas Discounts by Gazprom
As reported by Austrian daily “WirtschaftsBlatt” (Thursday issue), Austrian oil company OMV will soon sign a deal with Russian state-controlled Gazprom.
May 14, 2014
Czech Republic: CEZ Losing With RWE Contract?
A gas contract with German RWE is causing the Czech energy group losses in the billions.
May 12, 2014
Czech Arca Capital to Invest in Romania
As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.
May 12, 2014
Czech Republic: Rosatom to Complete Temelin?
Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.
May 12, 2014
CEZ Bulgaria in “Full Compliance with the Law”
CEZ, along with other foreign utilities in Bulgaria, does not regard itself being obliged to pay a certain amount to state-controlled utility NEK.
May 9, 2014
MOL Group Acquires 208 Filling Stations in Three CEE Countries
MOL Group’s retail network grows to almost 2,000 service stations across 11 countries. The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania. Retail network expansion further strengthens MOL Group’s role in CEE.
May 9, 2014
MOL: Oil Supply to Hungary not Endangered
According to Hungarian oil and gas enterprise MOL, the supply to Hungary is not endangered by the delivery stop of Russian oild products passing through Ukraine.
May 9, 2014
Calls for European Energy Union Become Louder
Polish PM Tusk called for a European energy union. His Hungarian counterpart supports the idea.
May 9, 2014
Verbund: Trying to Get Rid of Sorgenia
The Austrian utility Verbund announced not being willing to invest any further money into loss-making Italian energy group Sorgenia.
May 8, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Poland: No Danger of Deflation
According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.
April 7, 2014
Romania: Key Interest Rate Remains Unchanged
The central bank of Romania has left the main interest rate unchanged.
March 31, 2014
Romania: Ponta Clinging to Leadership
Reforms in Romania will be carried out even if Ponta’s new government’s majority will be reduced in parliament.
February 27, 2014
Austria: “Council of the Wise“ for Hypo Group
Instead of a parliamentary investigation committee the coalition expressed its wish to appoint a “Council of the Wise” for the the assessment of the ailing bank’s nationalization.
February 25, 2014