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Austrian Oil and Gas Industry Headlines

SBO Oilfield Seen Posting EUR 9.6 Mln Q1 Net Profit, Down 34 Pct Y/Y

Listed oilfield group SBO will likely post EUR 9.6 million (USD 10.9 million) in Q1 net profit, 34 percent below the year earlier figure, predict analysts ahead of the release of the financial statements slated for Tuesday.

May 18, 2015

OMV Q1 Total Oil and Gas Output Falls Y/Y and Q/Q, Refining Margin Up

Listed oil and gas group OMV saw its Q1 total hydrocarbon output fall by 5 percent q/q to 303k boe/day, less than 311k boe/day in Q1 2014, the company said in Q1 2015 trading statement out Thursday.

April 23, 2015

European Commission: Gazprom Might Have Abused Dominance in EU and CEE

Gazprom might have charged unfair gas prices and abused dominance, the European Commission (EC) has said after completing a probe into possible abuse of monopoly power by the Russian gas giant in certain Central and Eastern European countries.

April 22, 2015

Austrian Plastics and Fertiliser Maker Borealis to Go Public?

The head of Austrian plastics and fertiliser maker Borealis, CEO Mark Garrett, said an interview for Reuters the firm was against a potential IPO as the firm was ‘satisfied with the current ownership structure. And yet, the stock listing remains an option, Garrett concedes.

April 10, 2015

OMV Eyes Business Opportunities in Iran After Nuclear Agreement

Listed oil and gas group OMV hopes for new business opportunities in Iran after the country and six major powers reached an outline agreement on Iran's nuclear programme. OMV could return to its natural gas project South Pars, should sanctions on Iran be relaxed.

April 7, 2015

Außenwirtschaft Austria: Iranian Oil Exports Expected to Hike Only Temporarily After Sanction Lift

Iranian oil might temporarily flood the market as a result of lifting the nuclear power programme ban imposed on that country, since Iran has huge reserves of the resource. However, once the reserves are used up it will need investments in oil fields, JBC expert Alexander Pögl reckons.

April 3, 2015

State Holding OBIB Launches Competition for CEO Post

State holding OBIB, successor of OIAG, has announced a competition for the post of the group's CEO, in line with expectations.

April 1, 2015

OMV's Gerhard Roiss Earns EUR 4,46 Million in 2014

The departing head of oil and gas group OMV Gerhard Roiss has got a substantial remuneration for his work in 2014.

March 31, 2015

Environmental Organizations Against OMV's Upstream Plans in Adriatic Sea

The oil upstream plans of OMV at the Croatian coast have triggered an action of Croatian environmental organizations Global 2000 and Zelena Akcija in front of the OMV head quarter. The environmentalists claim the OMV’s actions threaten the sensitive ecosystem of the Adriatic Sea and the livelihoods of many Croatian people.

March 31, 2015

Update: OMV Appoints Outsider Rainer Seele as New CEO

The head of German oil and gas producer Wintershall is going to transfer to Austria’s listed oil and gas concern OMV as of 1 July 2015, taking the place of Gerhard Roiss as CEO. The incumbent CEO is going to leave the company on 30 June. Seele’s appointment as new helmsman of the Austrian firm was hailed as a "corner stone for the company”, by supervisory board head Rudolf Kemler during the press conference. Seele has been appointed for three years and his tenure may get extended by another two years. During his time in Wintershall he managed to raise production by over a half to 385,000 boe/d. Seele is a German citizen. He did not want to disclose his plans for OMV.

March 30, 2015