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

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.

1 hour ago

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.


EU Launches Nuclear Power Plant Infringement Procedure Against Hungary

The European Commission said it launched an infringement procedure against Hungary for failing to comply with European Union public procurement rules in an upgrade of the Paks nuclear power plant. The Hungarian government will implement the upgrade of the Paks nuclear power plant, Prime Minister Viktor Orban said in a regular interview on public radio on Friday.

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 Defends Nordstream 2 Engagement

Listed oil and gas group OMV sees the opportunities in Russia, linked to the company's participation in gas pipeline project Nordstream 2 as "a big chance,” CEO Rainer Seele said defending the group's plans entailing cooperation with Russia's giant Gazprom.

November 10, 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

Verbund Power 9 Mo Net Profit Surges to EUR 228.7 Mln, Hikes EBITDA Guidance

Listed power group Verbund raised 9-month net profit to EUR 228.7 million (USD 251.3 million) from EUR 63.8 million, while EBIT grew by 87.8 percent to EUR 386.4 million, the group said.

November 4, 2015

OMV CFO David Davies to Be Replaced

CFO of oil and gas concern OMV, David Davies, is rumoured to be replaced before the end of his term of office, Presse daily reported on Wednesday, citing various sources. Apparently, job interviews with his potential successors are already underway. Davies is supposed to stay in office until March 2017.

October 29, 2015

Lukoil to Run Lubricant Business from Vienna

Russian oil company Lukoil is going to run its international lubricant business from Vienna, as the Holding of Lukoil Lubricants has transferred its head quarter from Amsterdam to Vienna. Lukoil head Vagit Alekperov announced in June that the international explorations and production business, with a revenue of USD 4.6 billion (EUR 4.17 billion), would be tied into the Viennabased Lukoil International holding.

October 27, 2015