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Energy Industry
OMV Closes Acquisition of Pioneer’s Subsidiaries in Tunisia
OMV paid $ 800m plus $ 39.3m working capital and remains committed to maintaining a strong investment grade
February 19, 2011
EU Requests Nabucco to Enter a Cooperation
The European Union is pushing a merger between Nabucco and the ITGI pipeline project.
February 18, 2011
OMV: "Turkey as a Bridge for Oil and Gas Wells in the region"
The Austrian oil company, which has already invested € 2.0bn in Turkey, considers the location a starting point for the Middle East.
February 17, 2011
Increase in Electricity and Gas Consumption
Austrian electricity consumption rises to the level before the economic crisis. Gas consumption is also showing a new record.
February 16, 2011
Oil Production Declined in Austria
Domestic oil production fell last year by 3.3% to 965,112 tons. Gas production increased however.
February 16, 2011
Eder Favors Further Privatizations
The CEO of Austria's largest steel company, voestalpine, would like to see the state pushed away from business still further.
February 15, 2011
Market Adjustments at the Gas Stations Business
Doppler, the largest private operator of gas stations in Austria predicts a decline in the gas station network.
February 11, 2011
Property Restoration Provides Hopes for Growth and Employment
With the release of € 400m for thermal rehabilitation, five times as much is to be generated in sales. Up to 80% of this amount stays in Austria.
February 10, 2011
Verbund Intends to Grow in Italy and France
The Austrian-Italian joint venture Sorgenia is to expand its commitment to renewable energies in Italy and France.
February 9, 2011
Oil Prices Rose Sharply in December
The Energy Price Index (EPI) calculated by the Austrian Energy Agency rose 2.3% in December 2010 compared with the previous month.
February 8, 2011
Wholesale Price Index Strongly Rising
Austrian Wholesale price index in January 2011: +11.6% against January 2010.
February 8, 2011
Energie AG Plans Capital Increase
The Upper-Austrian energy company is to raise funds in order to realize further investment projects.
February 7, 2011
Purchase of Petrol Ofisi Lowers OMV´s Results
In its Trading Statement Q4/10, OMV announces extraordinary expenses due to the major purchase of the Turkish Petrol Ofisi amounting to € 170m.
February 5, 2011
OMV Sells OMV Wärme VertriebsgmbH
The buyer is a consortium led by RWA Raiffeisen Ware Austria AG. The Austrian energy company OMV regards its heating oil business as being restructured.
February 5, 2011
Oettinger Increases Pressure on OMV
In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.
February 4, 2011
Leitl Urges to Invest in the Future
Despite consolidation needs, the government has to invest more in education, research and innovation, says the President of the WKÖ.
February 4, 2011
Below Average Privatization in Austria, according to ECEG
Regarding privatizations, Austria is still far behind, according to the European Coalition for Economic Growth (ECEG).
February 4, 2011
Investments in Renewable Energies in the CEE are booming
According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.
February 4, 2011
Four Major Orders for Andritz
The Austrian Andritz Hydro receives international orders to equip four hydropower plants. The contract value is € 80m.
February 4, 2011
Privatizations Could Raise up to € 24bn on Vienna Stock Exchange
Especially the privatization of public infrastructure and energy companies could increase the market capitalization of the Vienna Stock Exchange considerably.
February 3, 2011
Austrian Production Output up by 7.0%
Positive production trends in industry and construction in October 2010; turnover +7.0%.
February 1, 2011
Hope for Austria's Photovoltaic Industry
The development of alternative energy sources is being pushed by additional funding. EVN is also promoting alternative energies.
January 28, 2011
Verbund: Two Board Posts Vacant
The Austrian energy company advertises two executive board posts.
January 28, 2011
Austria's Energy Self-sufficiency until 2050
The Minister for the Environment, Nikolaus Berlakovich presents a study on the Austrian energy supply. Self-sufficiency until 2050 is feasible.
January 27, 2011
Austrian Inflation to be well above 2% in 2011
Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.
January 27, 2011
Austrian Gas Price Index Continues to Rise Slightly
The February 2011 Austrian gas price index (ÖGPI) recorded a slight increase over the previous month Compared to January, it rises to a value of 114.89.
January 26, 2011
Slow Progress for Nabucco
The negotiations in the Caspian region are "tough", but the political will exists, say sources from the Austrian oil and gas group OMV.
January 26, 2011
Andritz: Order in Portugal
The Austrian industrial plant manufacturer based in Graz reports an order for € 40m from the Portuguese power company EDP.
January 26, 2011
Austrian Production Rising Steeply
The Austrian Production index in November 2010: +6.5% over November 2009
January 25, 2011
Upper Austrian Manufacturing Industry on Investment Course
AMAG and Lenzing show ambitions to be listed again on the Vienna Stock Exchange. Energie AG massively increases its investment budget.
January 21, 2011
Industrial Producer Prices Up by 4.2%
According to Statistics Austrian, the industrial producer price index in November 2010 went up by +4.2% compared to November 2009.
January 21, 2011
EnBW Intends to Expand Engagement in Austria
The core shareholder of the Austrian company EVN plans further expansions abroad, especially in the "Alpine countries".
January 21, 2011
Agrana: Successful Completion of Campaigns
Agrana completed the sugar beet campaign at the sugar processing plant in Tulln|Lower Austria and, therefore, the 2010|2011 processing season at all of its facilities.
January 21, 2011
WKÖ Expects further Rise in Energy Prices
Due to the economic recovery, the Austrian Economic Chamber forsees further increases in oil prices. However, there also exists some saving potential.
January 20, 2011
ADX Energy Ltd Continues Operations in Tunisia
The Australian/Austrian ADX Energy Limited (ASX:ADX) announced to continue its operations in Tunisia
January 19, 2011
Major Order for Andritz from Malaysia
The Austrian technology company Andritz receives a major order for new stainless steel plant in Malaysia.
January 19, 2011
OMV Pulls its Staff out of Tunisia
Due to the recent developments in Tunisia, the Austrian OMV pulls back to a large extent. The cardboard manufacturer Mayr-Melnhof stays on.
January 18, 2011
Austrian Construction Costs up by 3.2% in 2010
Construction cost index 2010: increase of all three construction branches in annual comparison.
January 18, 2011
Austria's wind Energy Expands
After years of stagnation, capacities for wind energy are now being expanded again. IG Windkraft considers that subsidies are too low.
January 15, 2011
Poland is a Big Opportunity for Austria's Export Economy
The Austrian Economic Chamber sees tremendous opportunities for the local export industry. The construction industry could particularly benefit from the boom in Poland.
January 15, 2011
Inflation Increased up to 2.2% in Austria
The Consumer Price Inflation (HICP) increased up to 2.2 % in December 2010. This was mainly due to energy prices.
January 15, 2011
New Charges against Ruttenstorfer
The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011
New Perspectives for Nabucco
The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011
Agrana´s Upward Trend Continues
With a strong third quarter, Agrana, the Austrian sugar, starch and fruit group, continued its positive performance of the current financial year.
January 14, 2011
Turkish Electricity Market Threatens to Collapse
The increasing energy demand in Turkey is facing a lack of infrastructure. Austrian Verbund will expand its investments.
January 13, 2011
Energie Steiermark Acquires Majority Stake of Gas Supplier in Belgrade
67% of Serbian Beogas are being taken over by the Styrian energy company.The concession covers a service area in the Serbian capital, with over 400,000 customers.
January 10, 2011
EVN Elects New Supervisory Board
The majority shareholder of the Austrian energy company EVN submitted a proposal regarding the new supervisory board elected on January 20.
January 10, 2011
OMV: Moody´s Warns Against Downgrade
The Austrian energy group has to refinance its acquisitions in Turkey and Tunisia. The American rating agency puts pressure on OMV.
January 10, 2011
OMV Expands in Tunisia
OMV acquires Tunisian Exploration and Production (E&P) subsidiaries of Pioneer Natural Resources for $ 800m plus working capital.
January 6, 2011
Green Electricity Costs are Rising in Austria
Transfer pricing for the E-business rises in 2011, depending on the type of production, between 2.7 and 25.6%
January 3, 2011
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