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Austrian Oil and Gas Industry Headlines

SBO Shares Plunge After Weak Outlook

Shares in Schoeller-Bleckmann Oilfield (SBO) recorded a strong drop on Wednesday afternoon. Earlier the head of SBO, Gerald Grohmann, said in an interview for APA that both the second quarter and the whole year may be negative for the provider of oil field equipment.

June 24, 2015

OMV Wants to Participate in Gazprom's Pipeline Project "North Stream”

OMV wants to participate in the construction of two further branches of Baltic Sea pipeline "North Stream”, which transports Russian natural gas to Germany. Member of the executive board of OMV, Manfred Leitner signed a Memorandum of Understanding with the head of Gazprom, Alexej Miller in St.Petersburg.

June 18, 2015

OMV Oil & Gas Unit Borealis IPO Possible as Co-Owner IPIC Gets New CEO

Listed oil and gas group OMV's unit Borealis may be floated on the stock market under the new management at Borealis co-owner IPIC, OMV outgoing CEO Gerhard Roiss said.

June 16, 2015

Austrians Pay More than Luxembourgians for Petrol

Luxembourg’s citizens buy petrol cheaper than Austrians do, in terms of price to earnings. In Austria people can buy for their net monthly salary by 50 percent more fuel than Italian can, and double as much as Hungarians, an expert of the Austrian automobile club (VCÖ), Markus Gansterer, estimates, citing Eurostat data.

June 15, 2015

OMV Working on New Nabucco?

According to an article featured by Presse daily on Friday, indicators show that oil group OMV is currently toiling at a ‘new Nabucco’ project. Instead of gas from the Caspian Sea the pipeline in question would transport Russian gas via Turkey.

June 12, 2015

Lukoil is Expanding its Location in Vienna

The Russian oil group Lukoil is expanding its location in Vienna and wants to entrust the Viennese Holding Lukoil International with the exploration and production business, generating sales of EUR 4.6 billion per year, CEO Vagit Alekperov told ‘Wiener Zeitung’.

June 8, 2015

OPEC in Vienna Decides to Keep Production Unchanged

The Organization of the Petroleum Exporting Countries (OPEC) today hosted its 167th Meeting of the OPEC Conference at the OPEC Secretariat in Vienna. Participants included OPEC Heads of Delegation and the Secretary General. There were some expectations that the production goal of 30 million barrels a day could move higher. However, the key issue the market was looking for will remain at 30 million barrels a day.

June 5, 2015

OPEC Member Countries Discuss Global Petroleum Development Strategies in Vienna

The 6th OPEC International Seminar, with the theme "Petroleum - An Engine for Global Development", aims to build on the previous events from the past decade. It is currently taking place at the Imperial Hofburg Palace in Vienna. The Seminar intends to underpin OPEC’s commitment to stabilize the international oil market by promoting cooperation and dialogue with stakeholders around the world.

June 3, 2015

RBI’s Client Owns 6 Percent of Russia’s Oil Group Tatneft

The Austrian listed Raiffeisen Bank International (RBI) controls in the name of an unnamed client a 6.09 percent stake of Russia's sixt largest oil group Tatneft. It was stressed that the stake is not owned by RBI.

May 26, 2015

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