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Gas 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

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

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) 2014 and the (ii) Matching Share Plan (MSP) 2016, based on the resolution of OMV's Supervisory Board of March 22, 2017 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 March 8, 2017.

March 22, 2017

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

OMV Aktiengesellschaft / Report pursuant to section 65 para 1b inconjunction with sections 171 para 1 and 153 para 4 Stock Corporation Act

This report is legally required in order to be able to transfer shares under the long-term, performance based incentive and compensation programs to employees and managers within OMV Group.

February 26, 2015

OMV Aktiengesellschaft / Resignation of Gerhard Roiss as CEO as of June 30, 2015 and creation of a combined business segment Downstream

Today, the Supervisory Board of OMV Aktiengesellschaft and Gerhard Roiss have agreed that Gerhard Roiss resigns from his position as Chairman of the Executive Board and CEO as of June 30, 2015. The Supervisory Board has initiated the process to identify suitable candidates for the succession as CEO of OMV.

October 14, 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

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

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

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 Aktiengesellschaft - Quarterly Report

OMV Aktiengesellschaft is declaring the following financial reports below.

May 13, 2014

Shortened Natural Gas Supply from Russia

The Austrian oil and gas group OMV reports that Russian natural gas exports only reach 70% of its normal level.

February 2, 2012

OMV: „No Shortage in Natural Gas Supply“

Russian media reported on natural gas supply reductions for Europe. Gazprom denies, OMV refers to large natural gas reserves.

February 1, 2012

Turkey Emphasizes Support for Nabucco

Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.

January 21, 2012

OMV to Sell Petrol Stations in Croatia and Bosnia

The Russian oil company Zarubezhneft is interested in OMV´s Bosnian and Croatian petrol stations.

January 18, 2012

Central European Gas Hub Sets a New Record in Gas Trading

Trading volume of the Austrian gas hub rose to 40 billion cubic metres in 2011. This is an increase by 15% compared to the previous year.

January 13, 2012

Austria to Be By-Passed by South Stream Gas Pipeline

The rival project to Nabucco will not end at OMV’s Central European gas hub.

December 15, 2011

IPIC to Acquire Blocking Minority Threshold

The core shareholder of the Austrian oil and gas company, the Abu Dhabi state fund IPIC, already owns a 24.9% stake. An increase beyond 25% has been announced.

December 6, 2011

OMV Raises Oil Production in Libya

The Austrian oil and gas company OMV receives already about 50% of the pre-war volume. However, a full recovery will need another twelve months.

December 3, 2011

OMV’s Shale Gas Test Drilling Will Cost € 130m

The Austrian energy group sees a 20 percent chance of success for production at the Lower Austrian gas field that was discovered last month.

December 2, 2011

C.A.T. oil Maintains Positive Growth Momentum

The Austrian provider of oil and gas field services achieved an all-time high in operating activity levels. Revenue increased by 14.3% to € 74.7m in the third quarter of the year.

November 29, 2011

Energy Prices Rose by 12% in October

Austrian households have to pay a significant higher price for fuel and heating oil. Against October 2010, diesel price rose by 20%. Heating oil was up by 21.4%.

November 28, 2011

OMV Discovered Major Gas Field in Austria

The Austrian oil and gas group OMV found a major gas field in Northern Lower Austria. The gas could cover the domestic gas demand for 30 years.

November 26, 2011

OMV Concludes New Syndicated Loans

The Austrian oil and gas company has signed two syndicated multi-currency credit facilities totaling € 1,680m, which replaces existing facilities maturing in 2012.

November 23, 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

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

OMV Promotes Nabucco Project Abroad

The Austrian oil corporation OMV pushes the gas pipeline project Nabucco in Turkey, Azerbaijan and Turkmenistan.

October 11, 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

Energieallianz Austria Continues Expansion

The Austrian energy trading company opened its third office in Germany, where supply volumes have increased more than tenfold since 2007.

October 6, 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