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Gas Industry

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

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

Austrian Companies Hope for Quick Return to Libya

In view of the approaching end of the Gaddafi regime Austrian companies start preparations for an early return to the North African country.

August 22, 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

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

Increase in Austrian Electricity Price below EU Average

Electricity and gas are relatively expensive in Austria compared to other EU countries. The electricity price rose by 1.1% in 2009/10.

June 29, 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

Nabucco Receives Further Support by Transit Countries

Five countries are going to sign an agreement on the realization of the infrastructure project. Works are scheduled to start in 2013.

June 1, 2011

OMV Considering Closer Cooperation with Azerbaijan

The Austrian oil and gas group is in talks about investments in the oil-rich country which is an important supplier for Nabucco.

May 20, 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

Nabucco Announces Further Delay of Pipeline Project

Nabucco Gas Pipeline International GmbH today announces a revised timeline for the Nabucco pipeline project., which is due to a lack in suppliers.

May 6, 2011

Is Nabucco Turning into a Cost Trap?

The Nabucco gas pipeline could be twice as expensive as previously planned, according to sources from Turkey.

May 6, 2011

CEO Roiss: "Gas and Oil Remain the Core Business"

Renewable energies are already part of the program of OMV, said Gerhard Roiss. However, oil and gas will dominate in Europe until 2020.

May 5, 2011

Gas Pipeline Project for EVN

The Austrian energy company EVN to invest € 150m in high-pressure natural gas pipeline

May 4, 2011

EVN-Subsidiary Records Substantial Rise in Profits

The Rohöl-Aufsuchungs AG (RAG) shows a 23.1% increase in sales. Profits were up by 60%.

April 27, 2011

Energy Prices for Households still on the Rise

Especially mineral oil product prices rose steadily in the first quarter of 2011. Electricity prices remained stable.

April 23, 2011

OMV: German Refinery to be Converted

Because of the failures of Libyan oil imports, the OMV refinery at Burghausen is converted to alternative crudes.

April 19, 2011

OMV: No Sale of Stake in Borealis

The Austrian energy group OMV holds 36% of Borealis. IPIC, itself involved in OMV appears to be interested in the OMV share.

April 15, 2011

EVN Makes € 105m Investment in Croatia

The Croatian subsdiary of the Austrian energy company EVN started construction works on Zadar county gas network.

April 14, 2011

OMV Announces Major Gas Discovery in Australia

OMV has discovered gas on the North West Shelf of Australia in the Zola-1 exploration well. This represents one of the largest gas discoveries by the company.

April 14, 2011

BP Austria: Sales for € 1.3bn

The British oil company increased its sales last year from € 1.05bn to € 1.3bn. The operating profit quadrupled.

March 29, 2011

Petroleum Industry: Only 2659 Gas Stations by End-2010

Due to fierce competition and low margins, there are increasingly fewer gas stations in Austria

March 25, 2011

Ruttenstorfer: "OMV Stays in Libya '

Despite unpredictable developments, Austrian OMV stays in Libya. Neither are there any changes planned in other Arab countries.

March 10, 2011

Austrian Inflation Speeds Up

The Austrian consumer price inflation increased to 2.5% in January 2011. This development has been caused by rising energy prices.

March 1, 2011

Austrian Gas Price Index at a New High

The Austrian gas price index ÖGPI(C) recorded a significant increase in March 2011 in comparison with the previous month, rising to 117.16 points.

February 26, 2011

Libya: OMV Foresees no Shortages

The CEO of the Austrian OMV considers not to have underestimated the risks in Libya.

February 24, 2011

Strong Growth in Results for OMV

The Austrian energy company OMV records a strong increase in EBIT as well as profitability.

February 24, 2011

Southstream: Gazprom-OMV Cooperation

OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.

February 22, 2011

OMV Observes Riots in Libya and Yemen „thoroughly“

The Austrian oil company OMV is not concerned by the current turmoils in Libya and Yemen. However, OMV watches the incidents permanently.

February 21, 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

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