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Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
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Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices
Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.
January 28, 2022
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Statistics Austria: Inflation Has Risen to 1.7% in July 2020
According to latest reports, inflation in Austria has risen from 1.1% in June to 1.7% in July 2020. The pricing of clothing was the main driving force.
August 19, 2020
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
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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
WIFO Claims Property Tax
Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.
October 24, 2011
Inflation Rate Decreased Slightly in May 2011
The Austrian inflation rate fell from 3.3% in April to 3.2% in May 2011. Mineral oil and food products remained the main price drivers.
June 16, 2011
Good Prospects for BDI
The manufacturer of biodiesel could realize rising profits in Q1/2011. However, sales were declining.
May 12, 2011
Shutdown Petrochemicals – OMV Plant Overhaul at Schwechat Refinery
The OMV Refinery in Schwechat (Lower Austria) will undergo a further routine shutdown from May 3. This time, the petrochemical plant parts will be out of commission for around one-and-a-half months.
April 28, 2011
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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
Inflation went up to 3.1%
Austrian Consumer Price Inflation increased to 3.1% in March 2011 - the main drivers are energy and food prices.
April 16, 2011
Romania's Premier: "Sale to OMV was a Huge Loss"
Prime Minister of Romania Emil Boc regrets the 2004 sale of the then government owned Petrom to Austria's OMV.
March 30, 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
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Austrian Inflation Rate Increases up to 3.1%
Consumer Price Inflation (HICP) jumped to 3.1% in February 2011, which is mainly due to the increase in prices for energy, fuel, rents and foodstuffs.
March 17, 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
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
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
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
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Wholesale Price Index Strongly Rising
Austrian Wholesale price index in January 2011: +11.6% against January 2010.
February 8, 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
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
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
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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
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
Commodity and Food Prices Rising
Austrian Wholesale price index in December 2010: +9.1% against December 2009; annual average 2010: +5.0% against 2009.
January 5, 2011
Further Rise in Energy Prices for Households
Austrian energy prices in November 2010 were higher by 5.8% compared to the previous year. Only gas became cheaper.
December 27, 2010
OMV Closes Acquisition of 54.14% in Petrol Ofisi
OMV, an Austrian energy group, completed the acquisition of a 54.14% stake in Petrol Ofisi A.S.
December 22, 2010
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Inflation falls to 1.9% in November
According to calculations by Statistik Austria, the inflation rate for November 2010 was 1.9% after 2.1% in October. Price drivers are energy and housing.
December 16, 2010
OMV Sells 56 Gas Stations to PKN Orlen
56 gas stations in the German states of Thuringia and Saxony go to a subsidiary of the Polish oil group PKN Orlen.
November 19, 2010
Consumer Price Inflation up to 2.0% in October 2010
Main drivers for inflation are energy prices. Thus, inflation further accelerates.
November 16, 2010
Energy Prices Rise Steeply
An increase of 6.7% was recorded for energy prices in the yearly comparison. The relevance of alternative energy sources will increase significantly in future, as energy price increases are expected to continue in the long term.
November 2, 2010
OMV: Complete Takeover of Petrol Ofisi Fixed
The deal is finished. Turkey will be the third main market for the OMV group.
October 22, 2010
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OMV Deal: Many Questions Without Answer
Not only the extent of the takeover is unknown, but also how it will be financed.
October 22, 2010
Increase in Mineral Oil Tax likely
Economy Minister Mitterlehner speaks of a possible moderate increase.
October 21, 2010
OMV Plans Complete Takeover of Petrol Ofisi
OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV
October 20, 2010
Mineral Oil Tax: A Cash Cow for the Finance Minister
State revenues for the mineral oil tax have risen steadily since 2000. At that time, motorists paid 2.726 billion euro; this year it will be 3.9 billion euro.
October 15, 2010
Hypo Alpe Adria: Greek Entrepreneur Xeniadis Signals his Interest in Buying
The Greek businessman Vasileios Xeniadis is prepared to offer 1.35 billion euro for Hypo Alpe Adria.
September 16, 2010
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Inflation in Austria fell slightly
Inflation in Austria fell from 2.0 to 1.9 percent in July on an annual basis. The main drivers were price increases for housing and fuels, which are responsible for half of the increase in CPI.
August 16, 2010
Expensive oil products - Inflation rises to 2.0 percent
The inflation rate was held high in June compared to last year due to higher prices of petroleum products.
July 14, 2010
Energy ten percent more expensive
Fuel prices have risen strongly again, oil is more expensive by a third, but gas is cheaper than a year ago.
June 22, 2010
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