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Austria International Oil and Gas Industry News
Read the latest headlines about developments in the international oil and gas industry in Vienna and Austria
Oettinger Expects Succesful Contracts Over Gas Deliveries
The EU-Commissioner for Energy, Günther Oettinger, anticipates that Azerbaijan will close contracts over natural gas deliveries within the coming months.
February 8, 2012
OMV: New Executive Board Member for Gas and Power Segment
Hans-Peter Floren to succeed Executive Board Member Werner Auli . Supervisory Board Chairman Markus Beyrer is “delighted with the highly qualified appointment”.
February 6, 2012
Mitterlehner: „Shortages in Russian Gas Supply Not Dangerous“
For The Austrian Minister of Economics, Reinhold Mitterlehner, the sudden cut in Russian natural gas supply is “no dangerous scenario”.
February 6, 2012
Black Sea: Petrom and Exxon Mobil Found Gas
Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.
February 4, 2012
IPIC May Raise Stake in OMV
IPIC’s request to increase its stake in the Austrian oil and gas company OMV beyond 25% doesn’t require an approval by the Austrian Ministry of Economics.
February 3, 2012
Rising Production at OMV
Due to the resumption of works in Libya, the Austrian oil and gas group announces rising production volumes and slightly improving refining margins.
February 3, 2012
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
Increase in IPIC´s Shareholding at OMV Approved?
Today, the Austrian Ministry of Economics announced to have decided over IPIC´s application. The Arab fund plans to increase its stake at OMV beyond 25%.
January 27, 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
RWE Considers Alternative to Nabucco
German RWE shows interest in rival project TANAP and considers getting out of Nabucco.
January 20, 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
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 Starts Downsizing Operations
The Austrian oil and gas company starts to reduce the weighting of the Refining and Marketing (R&M) business segment in the overall portfolio.
January 13, 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
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
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
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
Austrian Companies Return to Libya
OMV and Asamer have already resumed business, while Strabag is still evaluating damages.
November 30, 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 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
OMV to Sell Petrol Stations to Slovak Slovnaft
The Austrian oil and gas group OMV has already announced its downsizing strategy in the petrol station business. Slovnaft, a Slovak subsidiary of the Hungarian MOL, shows interest.
November 22, 2011
Siemens Austria Finishes Dutch Gas Power Plant
The contract value for the gas and steam power plant amounts to € 570m. 1.4 million households will be served with electricity.
November 21, 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
WIFO Alarms: Petrol Price Has to Increase
The petrol price should be increased annually by six percent. Tobacco should be more expensive as well, claims WIFO’s (Austrian Institute of Economic Research) head Karl Aiginger. However, taxes on labor should fall.
October 24, 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
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
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
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