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Energy Industry

Protests in Bulgaria Threaten to Escalate

Despite the resignation of Minister of Finance Simeon Djankov, the protests go on and may turn into riots. The opposition wants to hold new elections.

February 19, 2013

Turkey Plans to Build First Nuclear Power Plant

In order to become energy autonomous, the country wants to put a nuclear power plant into operation in six years.

February 16, 2013

Russia Makes Oil to Gold

In the last decade, Russia´s government has transformed the oil exports into gold reserves. No other country has bought more gold in the last years.

February 12, 2013

Bayerngas Leaves Nabucco

The German natural gas company does not want to join the pipeline project.

January 28, 2013

Austria Plans Biggest Hydro Power Plant in its History

In Southwestern Styria, Verbund, Austrian Railways and the Styrian energy supplier EStAG want invest more than € 1.0bn in a new hydro power plant.

January 26, 2013

Strong Political Support for Nabucco

Nabucco countries acknowledge the ministerial declaration extending legal and regulatory framework to Nabucco West.

January 19, 2013

Russian Rosatom May Build Nuclear Power Plant in Bohunice

Because of the completion of the Czech nuclear power plants, the Czech energy company CEZ is expected to withdraw from the construction project.

January 19, 2013

Serbia: Dinkic Underlines Importance of South Stream Pipeline

The South Stream pipeline is a “national project” and of vital interest for Serbia, Minister of Economics Mladjan Dinkic says.

January 19, 2013

Czech Republic Decides to Enlarge Temelin Power Plant

Today, the Czech Ministry of Environment has approved the enlargement of the nuclear power plant in southern Bohemia.

January 18, 2013

Austria: Regional Energy Providers Invest Massively in Renewable Energy

In 2013, the regional energy supplier Energie AG wants to invest € 180m. The Vienna-listed EVN group intends to increase its renewable energy portfolio by € 800m until 2020.

January 16, 2013

Bulgaria: Industrial Output Declines

In October industrial production shrank on an annual basis (by 1.5%) for the second consecutive month. At the same time, manufacturing output marked an increase. Construction output continued expanding.

January 11, 2013

Austrian Federal Competition Authority Approves Verbund´s Deal in Turkey

The Austrian energy group Verbund sells its stake in the Turkish joint venture Enerjisa to German E.ON. In return, Verbund gets E.ON´s hydro power plans in Bavaria.

January 11, 2013

Shah Deniz Consortium to Enter Nabucco Project

Today, the Nabucco´s shareholders and the Shah Deniz Consortium agreed on a joint declaration.

January 10, 2013

OMV: Final Investment Decision for Aasta Hansteen Gas Field

World’s largest floating spar platform in the Northern Norwegian Sea: Final investment decision taken to develop the promising Aasta Hansteen gas field including new pipeline infrastructure.

January 9, 2013

Poland Promotes Privatizations

This year, Poland´s revenues from privatizations total more than € 2.3bn.

December 30, 2012

New Hope for Nabucco

The gas pipeline project is said to get a new major shareholder. In case of the entry of the Shah Deniz II consortium, Nabucco´s utilization would be secured.

December 22, 2012

Nabucco: Official Approval in Bulgaria

Bulgarian Ministry approves Nabucco National Environmental Impact Assessment Report.

December 22, 2012

Verbund Posts Managing Board Positions

The Austrian energy group is looking for new management board members in the period from 2014 to 2018.

December 18, 2012

EVN to Enlarge Renewable Energy Production and Expand into Russia

The Vienna-listed energy producer wants to change its energy production portfolio. The hydro power, wind power and solar power production will be enlarged.

December 17, 2012

WIFO: South Europe Needs New Industrial Policy

The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.

December 15, 2012

EVN Posts Mixed Results

The Austrian energy company records an increase in revenues. EBIT fell by 7.0%, net profits grow slightly. Outlook 2012/13: Group net profit is expected to be on the prior-year level.

December 13, 2012

South Stream: No Pipelines to Austria

Austria will not be connected to the Russian pipeline project. Neither OMV nor Gazprom make a comment.

December 12, 2012

OMV and RWE Talk About Stakes in Nabucco

The German energy group plans sells its shares to Austrian OMV. OMV´s CEO Roiss expects that the consortium of Nabucco will change.

December 8, 2012

Energie Steiermark and Verbund Simplify Shareholding Structure

Verbund sells STEWEAG-STEG shares to Energie Steiermark and is buying Energie Steiermark’s shares in Verbund Thermal Power.

December 5, 2012

Verbund Focuses on Hydro Power

After the deal with German E.ON, the biggest Austrian energy company has a new core market and a new core product.

December 4, 2012

RWE Leaves Nabucco

The German energy group sells its shares to Austrian OMV.

December 3, 2012

Verbund Sells Enerjisa to E.ON

Verbund, Austria’s leading utility, and E.ON, one of the world’s largest energy providers, have reached an agreement on an asset swap.

December 3, 2012

Verbund Leaves Turkey

The Austrian energy group sells its interest in Enerjisa to German E.ON. Verbund will re-focus on hydro power.

November 23, 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

Czech Republic to Enlarge Nuclear Energy Production

Until 2014, the Czech Republic wants to double the share of nuclear energy production. The Temelin and Dukovany nuclear power plants will be enlarged.

November 9, 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

New Record for Bilateral Trade Between Poland and Austria

Christoph Leitl, President of the Austrian Chamber of Commerce underlines the close and friendly relationships between Poland and Austria.

November 8, 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

Three Austrian Companies Among Europe´s Top 300

The oil and gas group OMV, the construction group Strabag and the steel group voestalpine are Austria´s biggest industrial companies.

October 29, 2012

Austrian-Ukrainian Trade Relations Show Development Potential

According to Richard Schenz, Vice President of WKO (Austrian Chamber of Commerce), the economic relations between Austria and the Ukraine are excellent.

October 25, 2012

Verbund: Better Results, Outlook Raised

In the first three quarters of 2012, the Austrian electricity company recorded an increase in revenues and net income.

October 24, 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

Czech Government Attempts to Stimulate Growth

On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.

October 13, 2012

Verbund Does Not Exclude Sale of Enerjisa

The Austrian energy company Verbund is said to withdraw from Turkey. However, further investments would be conceivable too, Verbund says.

October 12, 2012

Verbund Sells € 70m Asset

Austria’s biggest electricity producer is focussing on majority interests with emphasis on hydropower.

October 11, 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

"Vienna is becoming an energy hub"

New UN Office for Sustainable Energy opens in Vienna.

October 6, 2012

„Austria Does Not Need Shale Gas“

Gerhard Roiss, CEO of Austrian OMV, thinks that renouncing on shale gas will be expensive.

October 1, 2012

Anzengruber: „Withdrawal from Turkey is no Issue Yet“

Wolfgang Anzengruber, CEO of the Austrian energy company Verbund, emphasizes that Turkey is a future market.

September 27, 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

Verbund in Turkey: Further Investments Instead of Withdrawal

In August, Verbund was said to sell its stake in Enerjisa to German eon. Now, Verbund may enlarge its investments in Turkey further.

September 19, 2012

EVN and Verbund Open the Ashta Hydropower Plant in Albania

The project company “Energji Ashta“ and its owners EVN and Verbund are opening the first section of the Ashta hydropower plant (Ashta I) on the Drin River in Northern Albania.

September 18, 2012

Bulgarian President Wants to Attract Austrian Investors

On the occasion with a meeting between the Bulgarian President Rosen Plevneliev, the Austrian President Heinz Fischer and Lower Austria´s governor Erwin Pröll, Plevneliev underlined the importance of Austrian investors for Bulgaria.

September 17, 2012
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