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OMV Wants to Muck Out for Russian Expansion

Austria’s listed oil and gas group OMV wants to clear out before pulling in on new shores: the company wants to get rid of gas-fuelled power plant Samsun on the Turkish coast, which costs OMV millions in write-downs.

August 19, 2015

OMV to Commence Test Drilling in Black Sea

Test drills off the Bulgarian Black Sea shore, where large oil and gas deposits are assumed to lie, are to be launched at the beginning of 2016, Bulgaria’s PM Boyko Borissov announced in Varna. The project is managed by a consortium established by oil and gas group OMV, Spain’s Repsol and France’s Total. The consortium has been waiting for the green light for launch since 2012.

August 17, 2015

OMV Unit Borealis Eyes Record Profit this Year - CEO

Plastics, chemicals and fertilisers group Borealis, a 36-percent unit of listed oil and gas giant OMV, expects to post a record result this year, CEO Mark Garrett said.

August 14, 2015

OMV CEO Rainer Seele: No Prospects of Quick Recovery

OMV is facing strong head wind: the oil price has plummeted, the market is struggling with excess output capacities and production of OMV in Yemen and Libya is on a standstill. And nothing indicates that the situation will change anytime soon. OMV CEO Rainer Seele said during the presentation of H1 results that there were no prospects for a swift recovery.

August 12, 2015

OMV Q2 EBIT Down 4 Pct Y/Y as Revenues Fall on Lower Crude Price

Listed oil and gas group OMV saw its Q2 EBIT fall by 4 percent y/y to EUR 222 million (USD 245 million) as revenues dropped by 38 percent on further decline of oil prices, the group said in financial statements out Wednesday presession.

August 12, 2015

OMV Aktiengesellschaft / Half Yearly Report

OMV Aktiengesellschaft is declaring the following financial reports below.

August 12, 2015

OMV Aktiengesellschaft / OMV intends to issue hybrid notes

OMV intends to issue hybrid notes (subordinated notes without maturity date) in two tranches at least in a benchmark volume.

August 11, 2015

Lukoil Concentrates International Business in Vienna

Russia’s Lukoil is concentrating its non-Russian business in Vienna. Via its local arm in charge of international business the oil group will generate USD 40 billion (EUR 36.5 billion), the company announced. The whole group generated last year USD 144 billion.

August 3, 2015

OMV Produced More Oil in Q2, Oil Prices Good for Performance

Listed resources group OMV produced more oil and gas in Q2 2015, in spite of continuing production standstill in Yemen and Libya. The increase has been attributed to output hikes in Norway and New Zealand.

July 23, 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