Page 3/5

Oil Industry

OMV: Libyan Oil Production at 60% of Pre-War Level

The Austrian OMV produces 19,000 barrels per day in Libya. Production can be improved steadily. A Romanian refinery will be sold to the Romanian state.

January 13, 2012

OMV Condemned by Antitrust Authorities

Petrom, a subsidiary of the Austrian oil and gas company has to pay a € 85.2m fine in Romania.

January 11, 2012

Petrom and Exxon Explore in Black Sea

Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.

January 9, 2012

OMV and Shell Set to Survey Off Great South Basin

The British-Dutch Shell Group and the Austrian OMV Group start research works near New Zealand.

December 12, 2011

Troubles at State Holding ÖIAG

The dividend policy at Telekom Austria is criticized fiercely. Moreover, the new core shareholders at Telekom and OMV cause fears of takeovers.

December 10, 2011

IPIC to Take Over OMV?

This week, IPIC announced to raise its stake in OMV. At the moment, the Arab investment fund holds 24.9% of OMV´s share capital.

December 9, 2011

Sale of Croatian OMV Petrol Stations Begins

OMV´s current market share in Croatia is 13%. Almost every major oil company in Europe shows interest.

December 9, 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 Sells Croatian and Bosnian Subsidiaries

In line with the strategy of the Austrian oil and gas company, the sale of the retail and commercial business in Croatia (OMV Hrvatska d.o.o) and Bosnia-Herzegovina (OMV BH d.o.o) is under consideration.

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

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

PKN Orlen Interested in OMV´s Petrol Stations

The Austrian oil corporation OMV downsizes its operations in the Czech Republic. 220 Petrol stations are for sale.

October 31, 2011

BP Determines Purchase Contracts With OMV

The Austrian subsidiary of British Petrol ends up contracts with the Austrian oil corporation. Possibly better conditions should be negotiated.

October 31, 2011

SBO Expects „Extreme Growth“

In the long run, Gerald Grohmann, CEO of the Austrian oilfield equipment manufacturer Schoeller-Bleckmann, sees an excellent development.

October 22, 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

Financial Syndicate for Nabucco Arising

The Austrian OeKB intends to conduct a financial consortium for the gas pipeline project Nabucco.

October 15, 2011

OMV to Resume Oil Production in Libya

The Austrian oil corporation had to abandon oil production in Libya at the beginning of the year. Now, OMV wants to continue its operations.

October 10, 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

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

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

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

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

Major Order from Russia for C.A.T. oil

The Lower-Austrian provider of oil and gas field services received new orders worth € 70m in Russia. The order book volume grew to € 239m.

August 19, 2011

SBO Tripled Profit

The Austrian oilfield equipment company presented strong half-year results. Sales went up 52%, EBIT increased from € 14.2m to € 40.1m.

August 18, 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

New Attempt for Oil Pipeline Bratislava – Schwechat

New impetus for the Austro-Slovak infrastructure project: The pipeline would link OMV to the Russian network.

July 20, 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

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

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

C.A.T. oil: Results Influenced by Diversification into Third Core Business

The Lower-Austrian provider of oil and gas field services registered a net loss of € 1m due to high tax expense. Revenues increased by 29.4% yoy to € 61m.

May 30, 2011

OMV: New CEO and Organizational Structure of Its Turkish Operations

Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.

May 25, 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

Strong Growth Rates for Schoeller-Bleckmann

The Austrian oilfield equipment company recorded strong results in the first quarter. Sales went up by 81.8%, EBIT quadrupled to € 20m.

May 18, 2011
Fast News Search