Oil & Gas

The latest oil and gas industry and company news and analysis from FriedlNews
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Analysis: Hungarian Deal with Russia Gives Hungary Enough Gas for 3-5 Years

Gas that Hungary can requisition from Russia under an agreement reached recently will be enough to last 3-5 years, Minister of Foreign Affairs and Trade Peter Szijjarto said on public television.

February 27, 2015

Eder: Voestalpine Can Bear the Consequences of South Stream Fiasco

The listed steel group voestalpine doesn't have to prepare for contraction due to Russia's withdrawal from the South Stream project. "South Stream is not relevant for earnings” the head of the group Wolfgang Eder declared on Thursday.

February 26, 2015

Sefcovic: "Russia Will Remain Important Energy Supplier to the EU"

Russia will remain a very important energy supplier to the European Union, said European Commission Vice-President Maros Sefcovic at a meeting with journalists on the occasion of the presentation of the European Energy Union .

February 25, 2015

C.A.T. Oilfield Services Supervisory Board Steps Down

Listed oilfield services group C.A.T. oil's supervisory board stepped down, ahead of the dismissal that was planned for the GM slated for next week, the company said in a filing.

February 20, 2015

OMV CEO: 2014 Operating Results 'Solid'

Listed gas and oil group OMV posted a "solid operating result” for 2014, despite "a turbulent year” with some 50 percent drop in crude prices in H2 and security issues in Libya and Yemen, CEO Gerhard Roiss said in a comment to the figures out Thursday morning.

February 19, 2015

Gas Leak Forces Statoil and OMV to Halt Extraction in North Sea

Austrian listed oil and gas group OMV is struggling with technical trouble on an oil and gas field in the North Sea.

February 19, 2015

Analysts Expect OMV to Report EBIT, Net Profit Slip for 2014

Analysts of Erste Group and Raiffeisen Centrobank (RCB) predict that Austria’s listed oil and gas group OMV, due to publish its 2014 results on Thursday, will report a drop of both operating and net profits.

February 18, 2015

CAT Oil: Dijols Plans No Squeeze Out

Listed oilfield services group CAT oil new lead shareholder Maurice Dijols does not plan a squeeze out minority shareholders who have 13 percent of the group, he told journalists on Thursday afternoon.

January 30, 2015

OMV to Step up Savings, Reduce Investments Over Crude Price Decline

Listed oil and gas giant OMV will step up the planned savings measures and reduce investments to EUR 2.53.0 billion per year in 2015-2017 because of the crude oil price that has fallen by more than a half since mid-2014, the company said.

January 29, 2015

OMV Books EUR 700 Mln Impairment in Q4 on Ofisi and Petrom Units

Listed oil and gas group OMV will book a net EUR 700 million impairment on its Q4 operating result related to Turkish unit Petrol Ofisi and Romanian energy activities of Romanian unit OMV Petrom, the company said in the quarterly report out Thursday morning.

January 29, 2015