OMV Company News
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Gazprom Sets Date to Resume Nord Stream 2 Pipelay
Monday, November 30, 2020Russia can probably get around the latest US sanctions against Nord Stream 2 and complete the controversial pipeline, according to industry executives and analysts.
Abu Dhabi to Open Futures Exchange for Murban Crude
Monday, November 09, 2020By selling its crude through futures, Abu Dhabi will let the market determine the price.
Nord Stream 2 Urgency Diminishes
Tuesday, October 13, 2020After two warm winters and the coronavirus pandemic, demand for gas used for heat and power generation is sagging across Europe.
Libya May Double Oil Output Next Week
Monday, October 12, 2020Libya took a major step toward reviving its battered oil industry by reopening its biggest field.
$7.6B Fine Raises New Legal Questions for Gazprom
Friday, October 09, 2020Poland's antitrust watchdog slapped a $7.6 billion fine on Gazprom PJSC over the Nord Stream 2 pipeline.
Equinor Plans to Power Offshore Platforms with Wind
Thursday, April 09, 2020A rendering of the Hywind Tampen floating wind farm between the Gullfaks and Snorre licenses in the North Sea. Illustration copyright Equinor AS
OMV Cuts Spending, Delays Projects
Friday, March 27, 2020Employees who are critical to the business or supply security are the only ones working in the field.
SapuraOMV Achieves First Gas from Larak Field Offshore Malaysia
Monday, January 13, 2020SapuraOMV Upstream has achieved within budget first production from its Larak gas field offshore Malaysia under the SK408 Production Sharing Contract (PSC).
Tunisia's Big Gas Field About to Start Pumping
Tuesday, November 12, 2019Tunisia's biggest energy project -- a long-delayed, $1.2B joint venture with Vienna-based OMV AG -- will start producing natural gas by the end of the year.
Kremlin Accuses Trump of Trying to Bully Europe into Buying US LNG
Thursday, July 12, 2018The Kremlin on Thursday rejected U.S. President Donald Trump's description of Germany as a "captive" of Russia.
Austria's OMV to Invest in UAE Offshore Oilfields in $1.5B Deal with ADNOC
Thursday, April 05, 2018Austrian oil and gas group OMV said it will take a 20 percent interest in two oilfields off the United Arab Emirates under a $1.5 billion deal agreed with the Gulf state's national oil company ADNOC.
OMV Ramps Up Search For Gas In Austria
Monday, January 29, 2018OMV is ramping up its geological survey work in Austria with a view to increasing its market share.
Qatargas Signs Deal To Deliver LNG To Austria's OMV
Wednesday, December 20, 2017Qatargas agrees a sale and purchase deal with OMV.
CEO: OMV To Become Bigger, Grow Marketing Outside Of Europe
Wednesday, December 20, 2017OMV will expand further, focus on more value-added refined products and grow its marketing beyond Europe, its CEO says.
Sharp Fall In Applications For Norway's Arctic Oil Permits
Tuesday, December 05, 2017Norway's attractiveness as an oil region took a hit when energy authorities said 11 oil firms applied for stakes in exploration blocks in its latest oil licensing round
OMV Flags Higher 3Q Margins, Kurdistan Windfall
Friday, October 13, 2017OMV says its refining margin rose to $7.04 per barrel in the third quarter.
Gas Pipeline Through Central Europe to Go Ahead As Planned -Romania
Thursday, September 28, 2017The pipeline, BRUA, will ultimately be able to carry 4.4 billion cubic meters of gas from Bulgaria and Romania to Austria by 2022.
Austria's OMV Moves Workers In Tunisia Over Gas Field Protests
Thursday, May 04, 2017OMV has taken around 700 non-essential staff and contractors out of projects in southern Tunisia after protesters demanding jobs threatened to disrupt operations.
OMV Acquires Yuzhno Russkoye Interest for $1.85B
Monday, March 06, 2017OMV acquires a 24.99% participation interest in the Yuzhno Russkoye natural gas field from Uniper SE for a purchase price of $1.85 billion.
OMV, Dana Energy Sign Iranian Oil, Gas MoU
Wednesday, January 25, 2017OMV and Dana Energy Company sign a Memorandum of Understanding to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry.
Gazprom, OMV Reach Basic Deal On Swap Of Norway, Siberia Assets
Wednesday, December 14, 2016Gazprom and OMV agreed on a basic deal on Wednesday for a swap of a 38.5% stake in OMV's Norwegian unit for a 25% stake in a part of Gazprom's Urengoy gas field.
OMV CEO Hopes For Asset Swap Deal With Gazprom Before Year-End
Thursday, November 17, 2016Austria's OMV is confident it can reach a basic agreement on a planned asset swap with Russia's Gazprom before year-end.
OMV Says Wisting Arctic Discovery May Exceed 1B Barrels
Thursday, November 17, 2016OMV's Wisting discovery in the Barents Sea could contain more than 1 billion barrels of oil equivalents, potentially making it the largest find in the Norwegian Arctic so far.
OMV To Sell UK Subsidiary for up to $1B
Wednesday, November 09, 2016Integrated oil company OMV agrees to sell 100% of the shares in its wholly owned subsidiary OMV (U.K.) Limited to Siccar Point Energy Limited for an overall transaction value of up to $1 billion.
OMV Sells UK Business In Retreat From Costly Exploration
Tuesday, November 08, 2016OMV is selling its UK business to Siccar Point Energy, putting an end to the Austrian oil and gas group's exploration activities in Britain.
Gazprom Wants More Than 25% Of OMV North Sea Assets
Thursday, September 15, 2016Gazprom wants more than 25% of OMV's Norwegian North Sea holding company but is being prevented from taking a larger stake by Norway, the Russian company's deputy told Reuters.
Quadrant Fails to Find Hydrocarbons at Driftwood-1 Well in Carnarvon Basin
Tuesday, August 16, 2016Quadrant Energy fails to find hydrocarbons at the Driftwood-1 prospect in permit WA-320-P in the Carnarvon Basin offshore Western Australia.
OMV Intensifies Investment, Cost Cuts As Oil Price Weighs
Wednesday, August 10, 2016OMV is cutting its investments and costs further to counteract low oil prices which have sent its adjusted second-quarter operating profit down 43 percent to $238.67 million.
OMV Agrees To Sell 30% Stake In British Rosebank Field To Suncor
Tuesday, August 09, 2016OMV has agreed to sell most of its 50% stake in the British Rosebank field to Canada's Suncor Energy.
Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition
Friday, July 22, 2016Poland's antimonopoly watchdog a proposed joint venture by Russia's Gazprom and five European firms responsible for the construction of Nord Stream 2 would undermine competition.
New OMV CFO to Start July 1
Friday, May 13, 2016OMV Aktiengesellschaft's new chief financial officer, Reinhard Florey, will start his role July 1.
OMV Q1 Adjusted Operating Profit Falls By Half
Wednesday, May 11, 2016OMV's adjusted operating profit in Q1 fell 50% to $190 million as low oil prices keep gnawing at its upstream profit.
OMV Increases Production in 1Q 2016
Thursday, April 21, 2016OMV Aktiengesellschaft's hydrocarbon production in 1Q increases by 1% over the previous quarter to 312,000 barrels of oil equivalent per day.
Oil Firm Sequa Petroleum Calls Off Planned Deals with Total, OMV
Tuesday, April 19, 2016Sequa Petroleum calls off 2 planned acquisitions of Norwegian offshore field interests, one from France's Total and the other from Austria's OMV, due to tough market conditions.
OMV: Wisting Central II Achieves 5,000 Bopd Flow Rate
Wednesday, April 06, 2016The Wisting Central II horizontal appraisal well in the Barents Sea achieves flow rates of over 5,000 barrels of oil equivalent per day.
ADNOC, OMV, Occidental Sign Exploration Agreement in UAE
Monday, March 21, 2016ADNOC, OMV, and Occidental Petroleum sign an agreement to conduct a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments in Abu Dhabi.
OMV Supervisory Board Chairman Resigns
Friday, March 04, 2016OMV's Supervisory Board Chairman Peter Oswald announces that he will step down from May 18, 2016.
OMV: New Strategy Focuses on Sustainable Upstream Business
Thursday, February 18, 2016Austria's OMV lays out a new strategy that focuses on safeguarding cash flow and a sustainable upstream business.
Statoil Agrees to Acquire 30% Stake in New Zealand's PEP 57073
Wednesday, February 17, 2016Statoil agrees to acquire a 30% working interest in Petroleum Exploration Permit (PEP) 57073 in New Zealand from OMV.
Statoil Acquires 30% Stake in Exploration Permit PEP 57073 Off New Zealand
Tuesday, February 16, 2016OMV farms out a 30 percent stake in exploration permit PEP 57073 in the Pegasus Basin offshore New Zealand to Statoil.
Austria's OMV Aims to Sell Turkish Unit Petrol Ofisi
Friday, February 12, 2016OMV seeks a buyer for its Turkish unit, Petrol Ofisi, in line with the firm's strategy of focusing on upstream and integrated downstream businesses.
OMV Takes Fresh Charges as Cuts Oil Price Forecast
Friday, January 29, 2016Low oil prices force OMV to take writedowns totalling EUR 1.8 billion ($2 billion), underlining the problems facing the company.
OMV Appoints New CFO
Tuesday, January 19, 2016OMV appoints Reinhard Florey as its new chief financial officer, effective August 1 2016, at the latest, according to a company statement.
Investors Wary As Russian Pipeline Project Splits EU
Tuesday, December 22, 2015Investors are wary of pouring money into a planned doubling of Gazprom's Nord Stream gas link to Germany, analysts said, amid doubts about regulatory approvals and deep political divisions.
Sequa Calls Off Purchase of Norway Offshore Assets from Wintershall
Tuesday, December 22, 2015Sequa Petroleum has called off a planned $602 million purchase of Norwegian offshore field interests from Wintershall, the oil and gas subsidiary of BASF, citing a poor market environment.
Edvard Grieg Field Begins Production
Monday, November 30, 2015The Edvard Grieg oil field, located in the Norwegian North Sea, begins production.
Eastern Europe Focused Energy Firms Increase CAPEX
Tuesday, November 24, 2015Nostrum Oil & Gas and PJSOC Bashneft increase capital expenditure in 9M 2015, bucking the trend of CAPEX reduction among energy firms amid the current lower oil price.
The Upstream Investment Outlook of European Oil, Gas Firms
Tuesday, November 24, 2015Rigzone looks at the current state of upstream investment among European oil and gas firms.
Plan For Norway's Zidane Field May Be Presented In Summer 2016
Thursday, November 19, 2015A plan for developing Norway's Zidane natural gas field could be presented in the second or third quarter of 2016, according to an OMV representative.
Aptomar Secures Monitoring Services Contract with OMV
Thursday, November 19, 2015Aptomar signs a 3 year frame agreement with OMV Norway to deliver integrated field monitoring services for the operator's future drilling activities.