The latest energy industry and company news and analysis from FriedlNews
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Austrian Energy Industry Headlines

C.A.T Oil AG Will Be Renamed to Petro Welt Technologies AG

The listed Austrian provider of oil field equipment C.A.T. oil AG will in the future be called Petro Welt Technologies AG. The management and the supervisory board of the company want to recommend this move to the shareholders at the general assembly on June 17 in Vienna.

May 25, 2016

EVN Expands Drinking Water Segment in Lower Austria

Listed energy supplier EVN is expanding its potable water segment in Lower Austria, the management announced during the half-annual press conference. The company advocates a strong stabilization of power grids.

May 25, 2016

Oil and Gas Production Down in Austria in 2015

The output of crude oil and gas in Austria dropped last year, and more so for EVN subsidiary Rohöl-Aufsuchungs AG (RAG). The total oil production fell by 4.1 percent to 905,932 tonnes, whereas the output of natural gas decreased by 4.3 percent to 1.182 billion cubic metres, the Federal Geological Office (Geologische Bundesanstalt) disclosed.

May 24, 2016

Porr Lands First Order in Great Britain

The Austrian construction company Porr is entering Great Britain. In a joint-venture with the Dutch A.Hak and a subsidiary of the Swedish construction group Skanska the company will build a high-pressure gas pipeline in a tunnel. The ordering party of the British gas distributor National Grid. The cost of the whole project is GBP 150 million (EUR 195 million), according to Porr.

May 23, 2016

Takeover of EconGas completed

Partially state-owned oil and gas group OMV has completed the takeover of gas trading subsidiary EconGas, following the regulatory approval. The contract for the takeover of shares of EconGas, hitherto held by EVN (16.51%), Wien Energie (16.51%) and Energie Burgenland (2.73%) was signed in December 2015.

May 20, 2016

Peter Löscher to Become Chairman of OMV

Former Siemens CEO Peter Löscher (58) has become new chair of the supervisory board of partially state-owned oil and gas group OMV.

May 19, 2016

Hungarian Energy Group MOL Eyes Station Chain Acquisition in Austria

Hungarian oil and gas group MOL wants to resume filling station business in Austria, from which it withdrew last year, CEO Ferenc Horvath said as cited in the daily WirtschaftsBlatt.

May 17, 2016

OMV Head Seele: We Focus on Cash and Costs

2016 has seen strong declines of oil and gas prices, OMV head Rainer Seele commented during the presentation of the oil and gas group’s Q1 results. The average Brent oil price was at USD 34 per barrel, which was by 37 percent less than a year ago.

May 12, 2016

OMV Seen Posting EUR 168 Mln Clean CCS Net Profit in Q1

Listed oil and gas group OMV will likely post EUR 168 million (USD 191.4 million) clean CCS net profit in Q1, down by 29 percent y/y, shows the consensus of analysts surveyed ahead of the publication of the quarterly statements slated for Wednesday.

May 9, 2016

Battery Maker Banner Saw Its Revenue and Sales Volume Hike by 8 Percent

Upper Austria battery maker Banner from Leonding saw its revenue and sales volume hike by 8 percent each in the just ended FY 2015/16 (end of March). 4.1 million starter batteries have been sold, the revenue settled at EUR 258 million the company announced. Growth was achieved mostly thanks to the rising demand for enhanced flooded batteries for vehicles, which Banner has been supplying since 2015 for Volkswagen mid-sized cars. Over the past five years Banner has invested over EUR 40 million (USD 45.9 million) in its plant in Leonding. A new facility is to be build in Pasching, close to Leonding, for EUR 35 million, although the project is meeting with a lot of resistance among local communities.

May 6, 2016