The latest oil and gas industry and company news and analysis from FriedlNews
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Austrian Oil and Gas Industry Headlines

OMV and Partners Begin Production of Oil from Norwegian Field

Last weekend the listed oil and gas concern OMV and its partners started producing oil from the EdvardGrieg field in the Norwegian North Sea, which was discovered in 2007.


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.

November 25, 2015

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.

November 24, 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

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

OMV Wants to Sell 70 Petrol Stations in Czech Republic

Citing undisclosed independent sources the newspaper Lidove noviny reports that OMV is currently negotiating the sale of 70 petrol stations to Unipetrol, Czech arm of the Polish oil company PKN Orlen.

October 26, 2015