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OMV AG (OMVV.VI)

OMVV.VI on Vienna Stock Exchange

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Latest Key Developments (Source: Significant Developments)

OMV, Eni Among Cos Competing For Stake In Refining Unit Owned By Abu Dhabi's State Oil Co- Bloomberg
Friday, 23 Nov 2018 

Nov 23 (Reuters) - :OMV, ENI AMONG COS COMPETING FOR STAKE VALUED AT AS MUCH AS $8 BILLION IN REFINING UNIT OWNED BY ABU DHABI'S STATE OIL CO - BLOOMBERG, CITING SOURCES.  Full Article

OMV CEO wants to use Sapura deal to further expand in Asia
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Omv ::CEO says we want to use the joint venture with an Asian brand to expand into the region.CEO says it is becoming more likely to meet the 600,000 boe/d production target earlier than planned.CEO says Sapura's good relationship with Petronas is a value we have seen when choosing Sapura.  Full Article

Sapura Energy Updates On Strategic Partnership With OMV
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Sapura Energy Bhd ::ENTERED SUBSCRIPTION AGREEMENTS BETWEEN CO , UNIT OF CO, OMV EXPLORATION & PRODUCTION AND UNIT OF OMV E&P FOR PROPOSED SUBSCRIPTION.ENTERS SHAREHOLDERS AGREEMENT WITH OMV E&P, SAPURA UPSTREAM ASSETS, SUP & SUSB TO REGULATE JOINT MANAGEMENT OF SEB UPSTREAM.PROPOSED TRANSACTION INVOLVES IN A TOTAL CASH PROCEEDS OF UP TO $975 MILLION TO BE RECEIVED BY THE SEB GROUP.DEAL INVOLVES ISSUE OF SHARES IN SEB UPSTREAM, REPRESENTING 50% STAKE IN ENLARGED ISSUED SHARE CAPITAL OF SUP TO OMV E&P.ISSUE OF SHARES IN SUP TO TO OMV E&P FOR TOTAL CONSIDERATION OF $625 MILLION.DEAL ALSO INVOLVES REPAYMENT OF AMOUNT OWING BY SUSB GROUP TO SEB GROUP OF $350 MILLION.TOTAL CASH PROCEEDS WILL BE MAINLY USED TO PARE DOWN SEB GROUP’S DEBTS AND RECOGNISE GAIN ON DISPOSAL OF ABOUT 2,699 MILLION RGT.  Full Article

OMV Enters Into Strategic Partnership With Sapura Energy
Friday, 9 Nov 2018 

Nov 9 (Reuters) - OMV AG ::OMV AND SAPURA ENERGY ENTER INTO A STRATEGIC PARTNERSHIP.WILL PAY USD 540 MN FOR A 50% INTEREST IN SUP AT CLOSING BY SUBSCRIBING TO NEWLY ISSUED SHARES.SUBSIDIARY OMV EXPLORATION & PRODUCTION TO BUY 50% STK OF ISSUED SHARE CAPITAL IN NEWLY-FORMED JV CO, SEB UPSTREAM SDN BHD (SUP).PARTIES AGREED TO ADDITIONAL CONSIDERATION OF UP TO USD 85 MN BASED ON CERTAIN CONDITIONS.CONDITIONS MAINLY LINKED TO THE RESOURCE VOLUME IN BLOCK 30, MEXICO AT THE TIME OF TAKING THE FINAL INVESTMENT DECISION.BOTH PARTIES HAVE ALSO AGREED TO REFINANCE THE EXISTING INTERCOMPANY DEBT OF USD 350 MILLION.INTENDS TO FULLY CONSOLIDATE SAPURA UPSTREAM IN ITS FINANCIAL STATEMENTS.  Full Article

OMV says paid 66 mln eur to Nord Stream 2 project in Q3
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - OMV AG ::Says had cash inflow from disposals of eur 304 mn mainly due to the divestments of Pakistan and Samsun power plant -presentation.Says payment of eur 66 mn in Q3/18 to Nord Stream 2 - presentation.Says realized oil price increased by 12% in Q3 versus Q2.Says realized gas price increased by 1% in Q3 versus Q2.Says lower hedging impact in Q3/18 of eur -59 mn (Q2/18: eur -124 mn) -presentation.  Full Article

OMV Starts Production In Abu Dhabi
Thursday, 27 Sep 2018 

Sept 27 (Reuters) - OMV AG ::STARTED PRODUCTION IN ABU DHABI.  Full Article

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

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Germany to back Russian gas link despite Ukraine tensions

BERLIN Germany will not withdraw its political support for the Nord Stream 2 gas pipeline with Russia, its foreign minister said on Monday, as some lawmakers suggested curtailing the project to punish Moscow for its seizure of Ukrainian ships and their crew.