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Austrian Energy Industry Headlines

EVN: Analysts Expect Improvement of Performance for Three Quarters

The analysts of Raiffeisen Centrobank (RCB) expect that EVN, the listed energy provider will report slightly improved three quarter results. RCB expects the revenue to hike 11 percent y/y to EUR 1.688 billion (USD 1.9 billion) in three quarters. EBITDA is expected to rise by one third to EUR 500.5 million.

August 26, 2015

Energy Prices for Households Fall by 6 Pct Y/Y in June

Austrian households saw energy prices fall by 6 pct y/y in June, according to the energy price index EPI calculated by the Austrian energy agency.

August 21, 2015

OMV Wants to Muck Out for Russian Expansion

Austria’s listed oil and gas group OMV wants to clear out before pulling in on new shores: the company wants to get rid of gas-fuelled power plant Samsun on the Turkish coast, which costs OMV millions in write-downs.

August 19, 2015

BDI BioEnergy Wins EUR 30 Mln Deal for Scottish Facility Expansion

Listed biofuel firm BDI BioEnergy won a EUR 30 million (USD 33.3 million) deal to expand a facility it built earlier for its Scottish customer, Argent Energy, the company said.

August 14, 2015

OMV CEO Rainer Seele: No Prospects of Quick Recovery

OMV is facing strong head wind: the oil price has plummeted, the market is struggling with excess output capacities and production of OMV in Yemen and Libya is on a standstill. And nothing indicates that the situation will change anytime soon. OMV CEO Rainer Seele said during the presentation of H1 results that there were no prospects for a swift recovery.

August 12, 2015

OMV Q2 EBIT Down 4 Pct Y/Y as Revenues Fall on Lower Crude Price

Listed oil and gas group OMV saw its Q2 EBIT fall by 4 percent y/y to EUR 222 million (USD 245 million) as revenues dropped by 38 percent on further decline of oil prices, the group said in financial statements out Wednesday presession.

August 12, 2015

Heat Wave Raises Power Consumption Higher, Farmers to Suffer Damages

Electricity consumption in Vienna and Lower Austria has risen in the recent days during a heat wave in Europe, but has stayed below the top values recorded in winter, local power utilities Wien Energie and EVN informed APA.

August 10, 2015

Lukoil Concentrates International Business in Vienna

Russia’s Lukoil is concentrating its non-Russian business in Vienna. Via its local arm in charge of international business the oil group will generate USD 40 billion (EUR 36.5 billion), the company announced. The whole group generated last year USD 144 billion.

August 3, 2015

OMV Produced More Oil in Q2, Oil Prices Good for Performance

Listed resources group OMV produced more oil and gas in Q2 2015, in spite of continuing production standstill in Yemen and Libya. The increase has been attributed to output hikes in Norway and New Zealand.

July 23, 2015

Historic Iran Nuclear Deal Likely to be Announced Early Tuesday

Officials negotiating in Vienna's Palais Coburg say nothing is confirmed, but a deal will possibly come in the early hours of the morning. Iran’s Foreign Minister Mohammad Javad Zarif said an Iran nuclear deal would not be ready to be announced July 13, as China’s Foreign Minister urged the P5+1 and Iran to finalize the accord.

July 13, 2015