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Austrian Oil and Gas Industry Headlines

Who Is the Buyer of Lukoil’s Filling Stations in the Baltic States?

Austria-registered AMIC Energy Management, which is buying the filling stations of the Russian oil company Lukoil in Lithuania, Latvia and Poland, is a fund, Lukoil Baltija CEO has said, adding that he is not aware about who the fund’s owners are. Even so, Ivan Paleichik believes that the origin of capital is not that important as the most important thing is the company’s management and the quality of services.

February 8, 2016

Energy Dependency in the EU at 53.4%, in Austria at 65.9%

Energy dependency in the EU was at 53.4 percent in 2014. According to the latest Eurostat data Austria’s energy dependency was at 65.9 percent, which ranks Austria seventh in the EU. Estonia was least energy dependent (8.9 percent), while Malta was most dependent (97.7 percent).

February 5, 2016

OMV CEO: Austerity Measures Need to Be Topped Up

OMV head Rainer Seele claims the savings measures launched last year by the oil and gas group will have to be extended. The Fit for Fifty austerity package, launched in face of falling oil prices, will have to modified, so that the company can manage even if the price of oil drops below USD 50/barrel, to as little as USD 35/barrel, the CEO told Oberösterreichische Nachrichten daily.

February 2, 2016

Rainer Seele: OMV Sees No Need for Further Impairments

Listed oil and gas giant OMV expects no need for further impairments after writing off billions in Q3 and Q4 2015, provided that the scenario assuming USD 40 Brent price ber barell in 2016 materializes, CEO Rainer Seele said.

January 29, 2016

Schelling: Austria Won't Sell Stake in OMV

Austria will not sell its stake in listed oil and gas group OMV, Finance Minister Hans Jörg Schelling said at the sitting of the National Council on Wednesday in a response to questions from the Green Party.

January 27, 2016

OMV Faces Greenpeace Protests Against Arctic Project

Listed oil and gas group OMV is facing protest of environmentalist organization Greenpeace against the drilling in the Arctic. The organisation's activists fixed a symbolic oil film on one of OMV's tank's in Muthgasse calling for an immediate and final withdrawal of the group from the Arctic.

January 22, 2016

Italian Gas Grid Co SNAM Looks Into Acquisition of Stake in Gas Connect

Italian state-controlled gas pipelines operator SNAM, majority owner of Trans Austria Gasleitung pipeline (TAG), could acquire a stake in listed power group OMV's unit Gas Connect, SNAM CEO Carlo Malacarne told APA.

January 21, 2016

OMV Sells 68 Petrol Stations to Czech Republic's Benzina

Czech media reported on the deal already in October last year, now the transaction is certain: OMV will sell 68 of its petrol stations in Czech Republic to the petrol station chain Benzina, which belongs to the Unipetrol concern, which in turn belongs to Polish PKN Orlen. The parties agreed to not disclose the purchase price OMV informed on Wednesday.

January 20, 2016

OMV Appoints Reinhard Florey as CFO

Listed oil and gas group OMV appointed Reinhard Florey as new CFO to take up the post by August 1, 2016, the company announced.

January 20, 2016

SBO Oilfield Seen Suffering ca. 30-Pct Y/Y Decline in 2015 Revenues

Listed oilfield group SBO likely suffered an over 30-percent y/y decline in 2015 revenues, predict analysts. Also EBIT and pretax profit are expected to be slightly worse y/y.

January 18, 2016