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Energy Industry

OMV's New Gas Strategy Being Prepared

Listed oil and gas giant OMV wants to prepare its new gas strategy in the next 6-12 months, CEO Gerhard Roiss told the daily WirtschaftsBlatt in an interview. Roiss would not say if this could mean the sale of unit EconGas, nor would he comment on the rumours on a potential spinoff of the gas and power segment. He reiterated that the planned South Stream gas pipeline lies "in the interest of political Austria.

August 22, 2014

AMIC to Buy 240 Lukoil Filling Stations in Ukraine

Russia's oil giant Lukoil sold its Ukrainian unit with 240 filling stations and six fuel storage facilities to Austria's AMIC Energy Management GmbH. AMIC signed the contract about the acquisition of Lukoil subsidiary CFI on Monday. The deal still has to be approved by competition authorities in Ukraine though.

August 12, 2014

Hydrogen: OMV to Invest EUR 20 Mln in Key Technology

OMV is currently conducting intensive research on hydrogen as alternative fuel. According to CEO Gerhard Roiss hydrogen is already part of OMV’s everyday business. The group earmarkes around EUR 20 mln for hydrogen projects.

August 4, 2014

OMV Petrom Finalizes Modernization of Petrobrazi Refinery

OMV Petrom, the largest oil and gas producer in South-Eastern Europe, has announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014. Total investment in the modernization process amounted to around EUR 600 mln. The main target of the investment program was to increase competitiveness. OMV Petrom is now able to process the entire Romanian crude production of OMV Petrom in a single refinery.

July 24, 2014

OMV Discovers Oil and Gas in Norway

OMV finds hydrocarbons at Hanssen well in Norway. The discovery is estimated at up to 50 million boe of recoverable resources. The third well drilled in license PL 537 in the Wisting area has the potential of 200-500 mn boe. OMV (Norge) AS as operator has a 25% share in the license; our joint venture partners are Petoro, Idemitsu, Tullow (each 20%) and Statoil (15%).

July 3, 2014

Austria’s Energy Regulator: "South Stream Pipeline Must Comply With EU Law"

Austria’s energy regulator Energie-Control commented on the investment. It noted that the joint-venture between OMV and Gazprom ought to file a motion for establishing an exclusion from the third EU energy package in order to allow for the liberalisation of the gas market and a division of production and transport.

June 25, 2014

Analysis: The South Stream Gas Pipeline

Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.

June 25, 2014

Vienna: OMV and Gazprom Sign South Stream Gas Pipeline Deal

During Russian President Vladimir Putin's visit to Vienna, Gazprom has signed a deal with Austria's OMV approving the country's section of the South Stream pipeline.

June 24, 2014

OMV to Invest EUR 500 Mio in Tunisia

The Nawara project underlines Tunisia’s significant role in OMV’s portfolio and it is a decisive stage of the key Nawara gas field development project.

May 30, 2014

High Potential for Austrian Investments in Moldova

Austria is one of the most active countries in the CESEE region ranking first in foreign direct investments (FDI) in many countries.

May 22, 2014 · Updated: May 22, 2014; 13:05
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