The partly state-listed OMV announced today in its trading update for the 4th quarter that the technical failure and the months-long downtime at the Schwechat refinery in the summer of last year caused an insured value of EUR 175 million. “This amount will be taken into account in the clean CCS operating result in Q4/22. … Read more
The state-listed OMV announced today in its trading update for the fourth quarter that the incident at the Schwechat refinery in April last year caused an insured value of EUR 175 million. “This amount will be taken into account in the CCS operating result before special items in Q4/22. However, this will only have an … Read more
Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) intends to acquire a 24.9% stake in the Austrian energy and chemicals group “OMV” (OMV). The market value of the stake is around 3.8 billion euros ($4 billion), according to Bloomberg. The stake is owned by Mubadala Investment Company, one of the sovereign funds … Read more
With this step, Adnoc, one of the world’s largest oil producers, will also strengthen itself in the chemical sector. It was not until the spring that Adnoc and Mubadala agreed that Adnoc would take over the 25 percent stake in the petrochemical group Borealis, in which OMV holds a 75 percent stake. At the state-owned … Read more
The ex-manager pleads for a third solution (Norway, Romania/Rotterdam, Austria via Italy) so as not to become a game ball. Roiss, who as a board member fought against dependency on Russia, criticizes that the government is looking to Abu Dhabi (state fund holds 24.9 percent of OMV) to get the sanctions. The state holding company … Read more
The energy crisis has to be reacted to, but that’s no reason to change the long-term strategy, says OMV CEO Alfred Stern. The future lies in chemistry and geothermal energy. Wien. It wasn’t particularly lucky timing. presented in mid-March OMV-Boss Alfred Stern presented his new Strategy 2030, which he had previously worked on in his … Read more
The largest Austrian industrial group, the state-owned OMV, is currently also employing the judiciary. In the turbulent general meeting on June 3, the former CEO of the energy company, Rainer Seele, was not exonerated. The other board members were discharged for 2021, the ex-OMV boss was denied discharge to 71 percent. The state holding company … Read more
The contract between OMV and Rainer Seele, which left early in late summer 2021, officially ends this Thursday. The manager with excellent connections to Moscow, who was recruited from the BASF subsidiary Wintershall seven years ago, is likely to face sweaty weeks, if not months.
Vienna – Austria should withdraw from the mineral oil company OMV as long as its 31.5 percent stake is still worth something. That’s what the former OMV CEO Gerhard Roiss says in an interview with the magazine “Profile” from Saturday. The timing is good: “The oil and gas prices are high, and so are the … Read more
The contract of OMV board member Johann (Pleininger) will not be extended. The supervisory board of the listed OMV AG decided on Friday to allow the mandate to expire in August 2023. The differences in opinion between CEO Alfred (Stern) and Johann about the oil and gas strategy of OMV AG were probably too great. … Read more