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Austrian Oil and Gas Industry Headlines

OMV About to Relaunch Activities in Iran, NIOC Agreement Ready

After the suspension of sanctions imposed on Iran by the West, Austria’s oil and gas group OMV is busy with the relaunch of activities in that country which the Austrians find particularly promising. OMV signed a Memorandum of Understanding (MoU) with its Iranian peer NIOC in Teheran.

May 4, 2016

22k Households Change Energy Provider in 2016 Campaign of Consumer Association

22k Austrian households switched to another electricity and/or natural gas provider in this year's campaign of consumer association VKI, a clear increase on some 12.5k in 2015.

May 3, 2016

OMV Gets Green Light from EC for Full Takeover of unit EconGas

Listed oil and gas group OMV got the green light from the European Commission for the takeover of the remaining stake in its gas distribution unit EconGas, the EC said Monday.

May 2, 2016

SNAM of Italy Confirms Interest in Gas Connect

SNAM, the gas pipeline operator controlled by the state in Italy and majority shareholder of Trans Austria Gasleitung (TAG), has affirmed its interest in the acquisition of OMV subsidiary Gas Connect. The Italian company is apparently looking into the acquisition of a stake, if the sale of shares gets confirmed.

April 28, 2016

OMV Romanian Unit to Skip Dividend for 2015

Listed oil and gas group OMV's Romanian unit OMV Petrom will skip the dividend for 2015, the GM decided.

April 27, 2016

OMV Eyes Retaining Majority in North Sea Assets after Gazprom Deal

Listed oil and gas group OMV wants to retain the majority stake in its North Sea assets following the planned partnership with Russia's Gazprom, CEO Rainer Seele told the paper Industriemagazin.

April 25, 2016

OMV Reports More Output, Lower Margins

In Q1 2016 listed oil and gas group OMV reported lower refinery margins, but this was partly balanced by lower oil prices. Output exceeded production recorded in Q4 2015 and was also higher year on year. One-off costs were reported for the LNG segment, but Borealis was performing well, OMV declares in its Trading Statement published on Thursday.

April 21, 2016

Voestalpine Steel Wins another Pipe Deal for Nord Stream II Project

Listed steel and technology group Voestalpine secured another order for the Russia-Europe gas pipeline project Nord Stream II, the company said on its website.

April 19, 2016

OMV Takes Over Friesacher’s Petrol Stations

OMV’s purchase of 66 "Hofer” petrol stations from Markus Friesacher announced in December and approved by the antitrust authorities in January this year will be finalized by the end of April. This way OMV’s discount petrol station chain will be expanded to a total of 207 branches. The mineral oil company already operates 141 "Avanti” stations. This means that the discount chain will be almost as big as the premium chain OMV, which has 209 branches.

April 19, 2016

Doppler: No Sale of Petrol Station Operator Doppler Intended

The owner of Upper Austrian Doppler Group Franz Joseph Doppler vehemently denies rumours about his intention to sell of the petrol station chain to Azerbaijani oil group Socar, featured in an article by trend business magazine. In total there are 2,640 petrol stations in Austria. Out of this 245 belong to the Doppler group.

April 11, 2016