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.


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

OMV Aktiengesellschaft / Publication of a resolution of the Annual General Meeting

The ordinary Annual General Meeting of OMV Aktiengesellschaft (hereinafter referred to as "the Company") held on May 18, 2016 adopted the following resolution in relation to item 9 (Authorization to utilize the Company's treasury stock or dispose of it for the purpose of share transfer programs) of the agenda

May 18, 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

OMV Seen Posting EUR 168 Mln Clean CCS Net Profit in Q1

Listed oil and gas group OMV will likely post EUR 168 million (USD 191.4 million) clean CCS net profit in Q1, down by 29 percent y/y, shows the consensus of analysts surveyed ahead of the publication of the quarterly statements slated for Wednesday.

May 9, 2016

OMV About to Relaunch Activities in Iran, NIOC Agreement Ready

After the suspension of sanctions imposed on Iran by the West, Austria’s oil and gas group OMV is busy with the relaunch of activities in that country which the Austrians find particularly promising. OMV signed a Memorandum of Understanding (MoU) with its Iranian peer NIOC in Teheran.

May 4, 2016

OMV Gets Green Light from EC for Full Takeover of unit EconGas

Listed oil and gas group OMV got the green light from the European Commission for the takeover of the remaining stake in its gas distribution unit EconGas, the EC said Monday.

May 2, 2016

SNAM of Italy Confirms Interest in Gas Connect

SNAM, the gas pipeline operator controlled by the state in Italy and majority shareholder of Trans Austria Gasleitung (TAG), has affirmed its interest in the acquisition of OMV subsidiary Gas Connect. The Italian company is apparently looking into the acquisition of a stake, if the sale of shares gets confirmed.

April 28, 2016

OMV Romanian Unit to Skip Dividend for 2015

Listed oil and gas group OMV's Romanian unit OMV Petrom will skip the dividend for 2015, the GM decided.

April 27, 2016