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

Palfinger Eyeing Norwegian Offshore Technology Provider TTS

Listed crane manufacturer Palfinger has submitted a bid for Norwegian ship chandler TTS Group ASA, the company announced. Palfinger would like to acquire all shares of TTS, for a total price of EUR 60 million (USD 67.54 million) in cash, though Palfinger would also have to cover debt of the Norwegian firm.

June 21, 2016

Azeri Socar Interested in OMV's Petrol Ofisi

Azeri State-owned oil company Socar is considered interested in the Turkish subsidiary of OMV, the company Petrol Ofisi. The Azeri company will tackle the possible acquisition in September.

June 20, 2016

Municipal Utilities in Vienna to Downsize

The municipal utilities company in Vienna (Wiener Stadtwerke) is cutting costs. The company intends to downsize, and by 2018 it plans to reduce its staff number (of currently 5500) by 900 in the energy sector. 800 of the affected employees will go into retirement.

June 13, 2016

US ContourGlobal, German Steag eye Verbund power's Mellach plant - daily

Listed power group Verbund reportedly enjoys interest from US energy group ContourGlobal and German electricity firm Steag in its Mellach plant, put up for sale, the daily WirtschaftsBlatt writes.

June 8, 2016

OMV Key Shareholder IPIC Expects High Profit

Key shareholder of OMV, the UAE state holding, expects a high profit from OMV in the future. IPIC CEO Suhail Mohamed Al Mazrouei told Presse magazine (Thursday issue) in an interview that IPIC wants OMV to be one of the big players.

June 2, 2016

ÖBIB and IPIC Extend, Update OMV Syndicate Agreement

ÖBIB and IPIC, the key shareholders of oil and gas group OMV, updated and extended their syndicate agreement. Head of state holding ÖBIB, Martha Oberndorfer and chairman of IPIC, the state fund of the United Arab Emirates, Suhail Mohamed Al Mazrouei, who is also Energy Minister of the UAE, signed the modified agreement.

June 2, 2016

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