March 13, 2018 / 11:03 AM / 9 months ago

BRIEF-OMV 2025 targets: renewables not part of our strategy -CEO

March 13 (Reuters) - OMV:

* SAYS EXPECTS BRENT CRUDE PRICES MID-TERM AT $70/BBL, LONG-TERM AT $70-80/BBL

* SAYS EXPECTS ITS PETCHEM PRODUCTION TO RISE 12 PERCENT TO 2.8 MILLION T, JET FUEL PRODUCTION TO RISE 23 PERCENT TO 1.9 MILLION T BY 2025

* SAYS CAPITAL ALLOCATION PRIORITIES ARE CAPEX, ACQUISITIONS, DIVIDENDS, DEBT REDUCTION; IN THAT ORDER

* SAYS EXPECTS 2025 CARBON EMISSIONS TO BE 19 PERCENT LOWER THAN 2010 EMISSIONS

* UPSTREAM CHIEF SAYS WE WANT TO STRENGTHEN OUR POSITION IN LIBYA, UAE, IRAN, IRAQ

* SAYS IT IS REVIEWING FURTHER ACQUISITION OPPORTUNITIES IN RUSSIA

* DOWNSTREAM CHIEF SAYS WILL EVALUATE EXPANSION OF SCHWECHAT REFINERY WITH BOREALIS, EXPANSION POSSIBLY FROM 2025

* DOWNSTREAM CHIEF SAYS ONLY SIGNING LNG SUPPLY CONTRACTS FOR ROTTERDAM TERMINAL AT EUROPEAN PRICES

* CFO SAYS 2/3 OF 2018-2025 CAPEX BUDGET ALLOCATED TO UPSTREAM ACTIVITIES

* CFO SAYS COMPANY CAN USE 8 BILLION EUR CASH FOR M&A, DIVIDENDS, DELEVERAGING UNTIL 2020

* DOWNSTREAM CHIEF SAYS WE ARE MOSTLY INTERESTED IN INVESTING IN EXISTING REFINERY OUTSIDE OF EXISTING REFINING FOOTPRINT, IE ASIA, RUSSIA, MIDDLE EAST

* UPSTREAM CHIEF SAYS ARE NEGOTIATING IRANIAN PETROLEUM CONTRACT, HAVE NOT REACHED AGREEMENT YET

* UPSTREAM CHIEF SAYS WE ARE NOT CURRENTLY WORRIED ABOUT U.S. SANCTIONS ON IRAN

* CEO SAYS ARE INTERESTED IN EXPANDING EXPLORATION IN UAE

* CEO SAYS TOO EARLY TO SAY IF WE WILL BE SUCCESSFUL IN DOWNSTREAM EXPANSION DISCUSSIONS WITH ADNOC IN UAE

* UPSTREAM CHIEF SAYS TOO EARLY TO RE-ENTER LIBYA WITH INTL EXPERTS, NOT CLEAR WHEN RAMP UP TO AROUND 50K BOE/D CAN START

* CEO SAYS RENEWABLES ARE NOT PART OF OUR STRATEGY, WE WILL NOT ENGAGE IN RENEWABLES

* TARGETS GAS TO BE AT 50-60 PERCENT OF PORTFOLIO BY 2025

* CEO SAYS PRIORITY RIGHT NOW IS NOT RUSSIA, PRIORITY POST GAZPROM ASSET SWAP IS MIDDLE EAST

* DOWSTREAM CHIEF SAYS WE DON’T BELIEVE E-MOBILITY IS KEY TO CO2 EMISSION REDUCTION

* CEO SAYS WOULD NOT REWRITE STRATEGY IF NORDSTREAM 2 DIDN’T MATERIALISE

* UPSTREAM CHIEF SAYS ALL ASSETS FOR SALE IN NEW ZEALAND ARE INTERESTING, INCLUDING SHELL ASSETS

* CEO SAYS WELL ON TRACK TO CLOSE GAZPROM ASSET SWAP BY YEAR END, NO DETAILS Further company coverage:

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