The latest oil and gas industry and company news and analysis from FriedlNews
Page 1/50

Austrian Oil and Gas Industry Headlines

Palfinger Eyeing Norwegian Offshore Technology Provider TTS

Listed crane manufacturer Palfinger has submitted a bid for Norwegian ship chandler TTS Group ASA, the company announced. Palfinger would like to acquire all shares of TTS, for a total price of EUR 60 million (USD 67.54 million) in cash, though Palfinger would also have to cover debt of the Norwegian firm.

June 21, 2016

Azeri Socar Interested in OMV's Petrol Ofisi

Azeri State-owned oil company Socar is considered interested in the Turkish subsidiary of OMV, the company Petrol Ofisi. The Azeri company will tackle the possible acquisition in September.

June 20, 2016

OMV Key Shareholder IPIC Expects High Profit

Key shareholder of OMV, the UAE state holding, expects a high profit from OMV in the future. IPIC CEO Suhail Mohamed Al Mazrouei told Presse magazine (Thursday issue) in an interview that IPIC wants OMV to be one of the big players.

June 2, 2016

ÖBIB and IPIC Extend, Update OMV Syndicate Agreement

ÖBIB and IPIC, the key shareholders of oil and gas group OMV, updated and extended their syndicate agreement. Head of state holding ÖBIB, Martha Oberndorfer and chairman of IPIC, the state fund of the United Arab Emirates, Suhail Mohamed Al Mazrouei, who is also Energy Minister of the UAE, signed the modified agreement.

June 2, 2016

C.A.T Oil AG Will Be Renamed to Petro Welt Technologies AG

The listed Austrian provider of oil field equipment C.A.T. oil AG will in the future be called Petro Welt Technologies AG. The management and the supervisory board of the company want to recommend this move to the shareholders at the general assembly on June 17 in Vienna.

May 25, 2016

Oil and Gas Production Down in Austria in 2015

The output of crude oil and gas in Austria dropped last year, and more so for EVN subsidiary Rohöl-Aufsuchungs AG (RAG). The total oil production fell by 4.1 percent to 905,932 tonnes, whereas the output of natural gas decreased by 4.3 percent to 1.182 billion cubic metres, the Federal Geological Office (Geologische Bundesanstalt) disclosed.

May 24, 2016

Takeover of EconGas completed

Partially state-owned oil and gas group OMV has completed the takeover of gas trading subsidiary EconGas, following the regulatory approval. The contract for the takeover of shares of EconGas, hitherto held by EVN (16.51%), Wien Energie (16.51%) and Energie Burgenland (2.73%) was signed in December 2015.

May 20, 2016

Peter Löscher to Become Chairman of OMV

Former Siemens CEO Peter Löscher (58) has become new chair of the supervisory board of partially state-owned oil and gas group OMV.

May 19, 2016

Hungarian Energy Group MOL Eyes Station Chain Acquisition in Austria

Hungarian oil and gas group MOL wants to resume filling station business in Austria, from which it withdrew last year, CEO Ferenc Horvath said as cited in the daily WirtschaftsBlatt.

May 17, 2016

OMV Head Seele: We Focus on Cash and Costs

2016 has seen strong declines of oil and gas prices, OMV head Rainer Seele commented during the presentation of the oil and gas group’s Q1 results. The average Brent oil price was at USD 34 per barrel, which was by 37 percent less than a year ago.

May 12, 2016