Edition:
United Kingdom

OMV AG (OMVV.VI)

OMVV.VI on Vienna Stock Exchange

47.87EUR
2:46pm BST
Change (% chg)

€1.93 (+4.20%)
Prev Close
€45.94
Open
€46.18
Day's High
€48.06
Day's Low
€46.18
Volume
206,824
Avg. Vol
354,768
52-wk High
€56.32
52-wk Low
€43.20

Latest Key Developments (Source: Significant Developments)

Lundin Petroleum found more oil at Norway's Rolvsnes prospect
Monday, 27 Aug 2018 

Aug 27 (Reuters) - Lundin Petroleum Ab ::SUCCESSFUL APPRAISAL WELL AND PRODUCTION TEST ON ROLVSNES.HAS SUCCESSFULLY COMPLETED APPRAISAL WELL 16/1-28S AND PRODUCTION TEST ON ROLVSNES DISCOVERY IN PL338C ON UTSIRA HIGH IN NORWEGIAN NORTH SEA.SUCCESSFULLY CONFIRMED GOOD PRODUCTIVITY FROM FRACTURED AND WEATHERED BASEMENT RESERVOIR.CONSTRAINED PRODUCTION RATE OF 7,000 BARRELS OF OIL PER DAY (BOPD).CONFIRMED CONNECTIVITY TO SIGNIFICANT OIL VOLUME.SUBSTANTIAL INCREASE IN RESOURCES FOR ROLVSNES.GROSS RESOURCE RANGE INCREASED TO BETWEEN 14 AND 78 MILLION BARRELS OF OIL EQUIVALENT (MMBOE) FROM PREVIOUSLY 3 TO 16 MMBOE.EXTENDED WELL TEST REQUIRED TO BETTER UNDERSTAND RESERVOIR LONG TERM PRODUCTIVITY.COMBINED ROLVSNES AND GODDO PROSPECTIVE AREA ESTIMATED TO CONTAIN GROSS POTENTIAL RESOURCES OF MORE THAN 250 MMBOE.APPRAISAL WELL IS LOCATED APPROXIMATELY 3 KM FROM LUNDIN NORWAY OPERATED EDVARD GRIEG PLATFORM AND IS THIRD WELL ON ROLVSNES OIL DISCOVERY.LUNDIN NORWAY IS OPERATOR OF PL338C WITH A 50 PERCENT WORKING INTEREST. PARTNERS ARE LIME PETROLEUM WITH 30 PERCENT AND OMV WITH 20 PERCENT.  Full Article

Romania's OMV Petrom Q2 net profit falls 27 pct y/y, below forecast
Thursday, 2 Aug 2018 

BUCHAREST, Aug 2 (Reuters) - Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV :* Says it posts a second-quarter net profit attributable to shareholders of 434 million lei ($109.50 million), down 27 percent on the year compared with 592 million lei in the same quarter of 2017. .* Analysts had expected a net profit of about 741 million lei ($187.41 million)..* Says six-week revision at its Petrobrazi refinery negatively impacted its profit..* Says consolidated sales rose by 8 percent on the year, supported by higher prices for petroleum products and natural gas and by higher electricity sales volumes, which offset lower sales volumes of gas and oil products and lower electricity prices. .* Says cash flow from operating activities amounted to 1.38 billion lei, down from 1.71 million in the same quarter of last year when it was supported by a positive net working capital effect..* Says capital expenditure stood at 1.26 billion lei, more than double the 560 million lei it invested in the second quarter of last year. .* For the full year 2018, OMV Petrom expects the average Brent oil price to be at USD 70/bbl (revised up from USD 68/bbl). .* Says expects refining margins to be below 2017 levels..* Says aims to make final investment decision at its offshore Neptun Deep project, depending on stable fiscal regime, gas market liberalization and gas infrastructure development..  Full Article

OMV expects 2018 tax rate to be in mid-30s
Thursday, 2 Aug 2018 

Aug 2 (Reuters) - OMV AG ::OMV CEO SEELE SAYS TALKS WITH GAZPROM GOING WELL, EXPECTS TO REACH AGREEMENT ON ASSET SWAP IN H2.OMV CEO SEELE SAYS COMMITMENT TO LIBYA REMAINS INTACT.OMV CEO SEELE SAYS WORK ON NORD STREAM 2 PROGRESSING WELL.OMV UPSTREAM CHIEF SAYS TWO STAFF IN LIBYA STILL BEING HELD BY CAPTORS, NOT CLEAR WHO IS RESPONSIBLE.OMV CEO SEELE SAYS DOES NOT SEE SUFFICIENT PROTECTION FROM EU FROM EFFECT OF U.S. SANCTIONS AGAINST IRAN.OMV CEO SEELE SAYS HAVE PLACED PROJECTS IN IRAN ON HOLD.OMV CFO FLOREY SAYS TOTAL EXPOSURE TO NORD STREAM 2 CURRENTLY JUST UNDER 500 MILLION EUR.OMV CEO SEELE SAYS WANT TO HAVE DIRECT DIALOGUE WITH GAZPROM IN NORWAY TO BETTER UNDERSTAND SITUATION THERE.OMV DOWNSTREAM CHIEF SAYS VOLUMES IN NEW GAS CONTRACT WITH GAZPROM WILL INCREASE COMPARED TO NOW, BUT DECLINES TO GO INTO FURTHER DETAIL.OMV CFO FLOREY SAYS STILL EXPECT TAX RATE FOR 2018 TO BE IN MID-30S.  Full Article

Lundin Petroleum sees upside recovery at Norway Edvard Grieg field
Thursday, 5 Jul 2018 

July 5 (Reuters) - Lundin Petroleum AB ::REG-SUCCESSFUL COMPLETION OF EDVARD GRIEG DEVELOPMENT DRILLING PROGRAMME.CONVINCED THAT WE WILL EVENTUALLY SEE GROSS ULTIMATE RECOVERY GROW TO OVER 300 MMBOE.OVERALL RESERVOIR RESULTS FROM DEVELOPMENT DRILLING HAVE EXCEEDED PRE-DRILL EXPECTATIONS.POSITIVE RESULTS HAVE LED TO A 47 PERCENT INCREASE OF BEST ESTIMATE GROSS ULTIMATE RECOVERY FOR EDVARD GRIEG FIELD SINCE PDO.RESERVES UPGRADE HAS LED TO FIELD PRODUCTION PLATEAU BEING EXTENDED FROM PDO BY TWO YEARS TO END 2019.CURRENT GROSS PRODUCTION FROM EDVARD GRIEG IS APPROXIMATELY 95 MBOEPD.TOTAL GROSS PRODUCTION FROM EDVARD GRIEG FROM FIRST OIL TO END OF Q1 2018 AMOUNTED TO 74 MMBOE.MAINTAINING CURRENT OPERATING COST FOR FIELD OF BELOW USD 4 PER BARREL.PARTNERS ARE WINTERSHALL.  Full Article

OMV Closes Divestment Of OMV Pakistan
Thursday, 28 Jun 2018 

June 28 (Reuters) - OMV AG ::CLOSED THE DIVESTMENT OF OMV PAKISTAN.FINAL PURCHASE PRICE IS APPROXIMATELY EUR 158 MN.CONTINUES TO HOLD A 10% STAKE IN PARCO, A JOINT VENTURE BETWEEN PAKISTAN AND ABU DHABI IN DOWNSTREAM BUSINESS IN PAKISTAN.  Full Article

OMV AG And Gazprom Sign Extension For Natural Gas Supplies To Austria
Tuesday, 5 Jun 2018 

June 5 (Reuters) - OMV AG ::OMV AND GAZPROM <<>> SIGN EXTENSION FOR NATURAL GAS SUPPLIES TO AUSTRIA.  Full Article

OMV Divests Samsun Power Plant To Bilgin Enerji
Wednesday, 30 May 2018 

May 30 (Reuters) - OMV AG ::DIVESTS SAMSUN POWER PLANT TO BILGIN ENERJI.OMV NEWS: OMV DIVESTS SAMSUN POWER PLANT TO BILGIN ENERJI.CLOSING IS EXPECTED IN Q4/18 AT THE LATEST.PARTIES HAVE AGREED NOT TO DISCLOSE THE CONSIDERATION.WILL REMAIN IN TURKEY WITH ITS ENERGY SALES & TRADING BUSINESS.  Full Article

OMV: Acquisition Of 20 Pct Stake In Two Offshore Oil Fields In Abu Dhabi Planned
Thursday, 5 Apr 2018 

April 5 (Reuters) - OMV AG ::OMV AND ADNOC PLAN SIGNING FOR ACQUISITION OF A 20% INTEREST BY OMV IN TWO OFFSHORE OIL FIELDS IN ABU DHABI.PURCHASE PRICE OF USD 1.5 BILLION.  Full Article

Austria's OMV makes gas find near the Morvin field in the Norwegian Sea –NPD
Wednesday, 4 Apr 2018 

April 4 (Reuters) - NORWAY PETROLEUM DIRECTORATE: :OMV (NORWAY) AS, OPERATOR OF PRODUCTION LICENCES 644 AND 644 B, IS IN THE PROCESS OF COMPLETING THE DRILLING OF WILDCAT WELL 6506/11-10 IN PL 644 B.PRIMARY EXPLORATION TARGET: PRELIMINARY ESTIMATES INDICATE THAT THE SIZE OF THE DISCOVERY IN THE LANGE FORMATION IS BETWEEN 3 AND 18 MILLION STANDARD CUBIC METRES (SM3) OF RECOVERABLE OIL.SECONDARY EXPLORATION TARGET: PRELIMINARY ESTIMATES INDICATE THAT THE SIZE OF THE DISCOVERY IN THE GARN FORMATION IS BETWEEN 3 AND 21 MILLION STANDARD CUBIC METRES (SM3) OF RECOVERABLE OIL EQUIVALENTS.THE WELL WAS DRILLED BY THE DEEPSEA BERGEN DRILLING FACILITY, WHICH WILL NOW MOVE ON TO DRILL APPRAISAL WELL 15/3-10 ON THE 15/3-4 SIGRUN GAS/OIL DISCOVERY IN PRODUCTION LICENCE 025 IN THE CENTRAL PART OF THE NORTH SEA, WHERE STATOIL PETROLEUM AS IS THE OPERATOR.OMV (NORWAY)<<>> HOLDS A 30 PCT STAKE, STATOIL <<>> 30 PCT, FAROE PETROLEUM FPM.OL 20 PCT, SPIRIT ENERGY NORGE 20 PCT.  Full Article

OMV Announces Redemption Of Hybrid Bond 2011, Considers Issue Of New Hybrid Bond
Wednesday, 14 Mar 2018 

March 14 (Reuters) - OMV AG ::ANNOUNCES REDEMPTION OF HYBRID BOND 2011 AND CONSIDERS ISSUE OF A NEW HYBRID BOND.CONSIDERS ISSUE OF NEW PERPETUAL, SUBORDINATED BOND WITH A TOTAL VOLUME OF UP TO EUR 500 MILLION.POTENTIAL ISSUE OF NEW HYBRID BOND COULD TAKE PLACE WITHIN NEXT 18 MONTHS, IN ANY EVENT AT EARLIEST IN MAY 2018.  Full Article

Photo

Trade war dents European shares while M&A boosts Sky, Randgold

LONDON The U.S.-China trade war dented European stock markets on Monday after tariffs from the world's biggest economies came into force and China cancelled planned talks, triggering new fears of a protracted, costly trade dispute.