Rainer Seele

How Gazprom Helps the Kremlin to Manipulate Austria

The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.

March 8, 2022

Alfred Stern Takes Over from Rainer Seele as CEO of OMV

Effective September 1, 2021, Alfred Stern will assume the position as Chairman of the Executive Board and CEO of OMV, the Austrian oil and gas group.

August 31, 2021

New CEO for OMV: "Beginning of a Major Transformation"

The Austrian multinational company OMV has appointed a new CEO. After the current and parting CEO Rainer Seele has been facing heavy public criticism, OMV will now try to rebuild its image.

June 2, 2021

Weekly Briefing: End of Lockdown for Vienna and Lower Austria Stirs Up Hope

Now Vienna has also officially confirmed that on May 19 the long-awaited opening will take place. The end of the lockdown in Vienna and Lower Austria and nationally reaching 3 million Covid-19 vaccinations are not the only indications that the Austrian economic recovery gets off the starting blocks. Find out more about this week's developments.

May 6, 2021 · Updated: May 6, 2021; 17:05

Austrian Multinational Company Loses Current CEO

The Austrian multinational corporation OMV has announced that its current CEO, Rainer Seele, will end his term in June 2022. Only recently, criticism against OMV and Seele have increased. Find out more about how his end at OMV and the criticism relate.

May 3, 2021

Vienna-based OPEC Launches Newest Edition of World Oil Outlook

The 2020 OPEC World Oil Outlook (WOO) has been launched in Vienna providing, among other topics, the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the Covid-19 pandemic on the global energy and oil markets.

October 8, 2020

OPEC Headquarters Vienna: World Oil Market Outlook 2019 Launched

OPEC's Chief Mohammad Sanusi Barkindo released its 2019 World Oil Outlook, in which the OPEC states that the oil market may have upside potential in 2020.

November 17, 2019

Mohammad Sanusi Barkindo to Present the OPEC World Oil Outlook 2019

The OPEC World Oil Outlook provides insights into the upstream and downstream, supply and demand, investments, the potential impact of policies and sustainable development. It will be launched at the Vienna Stock Exchange by OPEC’s Secretary General, HE Mohammad Sanusi Barkindo.

October 22, 2019

Austria's Dependence on Russian Gas Increased by 33 Percent

The effects of the amendment to the contract on gas supplies from Russia to Austria signed last year become visible. A meeting in Moscow between Rainer Seele, Chairman of the Executive Board of OMV, and Alexey Miller, Chairman of the Gazprom Management Committee, revealed that gas deliveries between January 1 and March 5, 2019 increased by 32.9 per cent compared to the same period last year.

March 6, 2019

OMV Doubles Net Profit and Achieves 2018 Most Profitable Result in Company History

Austria's largest and listed industrial company, the oil and gas group OMV, achieved its most profitable result in the company's history in 2018 with a net profit of almost two billion euros.

February 7, 2019

OMV Acquires 2.2 Billion Euro Share in United Arab Emirates Refinery

Austrian OMV and the state-owned oil company of the United Arab Emirates, Adnoc, announced that OMV has acquired a 15 percent stake in Abu Dhabi Oil Refining Company. Thereby OMV establishes a major downstream Oil position. In addition, OMV will acquire a 15 percent stake in a trade joint venture with export volumes equivalent to around 70% of production.

January 28, 2019

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

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: Yearly Financial Report 2017

OMV Aktiengesellschaft is declaring the following financial reports below.

April 12, 2018

OMV Aktiengesellschaft / Rainer Seele confirmed as CEO of OMV

In today´s meeting, the Supervisory Board of OMV Aktiengesellschaft confirmed Rainer Seele as Chairman of the Executive Board and CEO of OMV. Rainer Seele's appointment is prolonged by two years until June 30, 2020. This extension option was foreseen in the original contract. Rainer Seele has been Chairman and CEO of OMV since July 1, 2015.

May 24, 2017

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