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Austrian Commodities Markets Headlines

SBO Oilfield Cuts Headcount by One-Fourth, Further Reductions Likely

Listed oilfield group SBO has reduced its staff count by onefourth and now employs some 1,230 worldwide, CEO Gerald Grohmann said at the presentation of the ninemonth results.

November 26, 2015

E-Control: Gas Supplies Over Ukraine Route Not Affected

The fact that Ukraine no longer buys any gas from Russia does not constitute a threat to gas supplies in other countries, Austrian energy market regulator E-Control assures. The supply of domestic consumers is, likewise, secure.

November 25, 2015

Czech Unipetrol Wants to Buy Petrol Stations of OMV and Shell

Czech Unipetrol, majority-owned by Polish oil group PKN Orlen, intends to buy up the petrol stations of Austria’s OMV and of Royal Dutch Shell in the Czech Republic, it follows from an interview Andrzej Kozłowski, head of strategies at PKN Orlen, to Czech newspaper Hospodarske Noviny.

November 24, 2015

Household Energy Prices in October 9.5 Pct Down

In October Austrian household energy price sank by 9.5 percent, compared to the same month of last year and reached a 5-year low. In comparison to September household energy prices dropped by 1.2 percent. Above all heating oil and fuels became cheaper.

November 20, 2015

RAG Wants to Search for Oil in Upper Austria

Rohöl-Aufsuchungs-Gesellschaft (RAG), a subsidiary of EVN, intends to build a new pump station in its search for oil in Pfarrkirchen near Bad Hall in Upper Austria. At the moment the company is looking for an adequate drilling drilling site, spokesperson Elisabeth Kolm told the press. The probability of making a find are between 40 and 60 percent.

November 12, 2015

OMV Suffers EUR 472 Mln Loss in Q3 over EUR 1 Bln Impairment

Listed oil and gas group OMV suffered a EUR 472 million (USD 515.4 million) net loss in Q3 2015, in line with expectations and worse than EUR 232 million net profit a year earlier, the company said. The deterioration of the net result came on EUR 1 billion impairment on exploration assets, related to strong crude price declines, that the group pre-announced in October trading statement.

November 5, 2015

OMV Unit Borealis Headed for Record Earnings in 2015, Pledges Higher Dividend

Chemicals group Borealis, a unit of listed oil and gas group OMV and Abu Dhabi based fund IPIC, will offer a higher dividend than in the previous years from 2015 earnings than in the previous years, CEO Mark Garrett said. The exact amount of the payout is yet to be decided upon.

November 4, 2015

Voestalpine Opens New Plant in China

Today Voestalpine opened a new plant in Shenyang in China. The plant will produce car body components. The investment cost EUR 25 million (USD 27.4 million). At the first stage 70 employees will be working at the location.

October 29, 2015

OMV Takes Over EconGas

OMV is taking over EconGas GmbH completely, the listed oil and gas company announced. Until now OMV was owner of a 64.25percent stake in EconGas, whereas EVN and Wien Energie hold 16.51 percent each. Energie Burgenland owns 2.73 percent of EconGas shares.

October 26, 2015

OMV: CEO Sees Russia and Middle East as Focal Points

The new CEO of OMV, Rainer Seele, has once again named the middle East and Russia as key areas for OMV. These two regions control cost-efficient deposits and OMV is involved in both of them, Seele pointed out towards Standard daily.

October 23, 2015