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OMV AG (OMVKY.PK)

OMVKY.PK on OTC Markets Group

55.07USD
19 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Romanian OMV Petrom sells wind park for 23 mln euros
Thursday, 20 Jul 2017 10:30am EDT 

July 20 (Reuters) - Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV :Says it has sold its Dorobantu wind park to Dutch-registered Transeastern Power B.V. for 23 million euros ($26.74 million)..Says transaction subject to approval from the Competition Council, estimated to come in by year-end..Says sale is part of Petrom strategy to focus on core operations..Says first announced plans to sell windpark in early 2016..Dorobantu wind park comprises of 15 Vestas V-90 turbines, each with a capacity of 3 MW. .Says wind park produced 0.08 Twh of electricity in 2016, for which it received 128,000 green certificates, as part of Romania's support scheme for renewable energy producers, half of which will be elligible for sale from Jan. 2018. .  Full Article

Romania's OMV Petrom resumes operations at its Brazi power plant
Wednesday, 5 Jul 2017 04:12am EDT 

July 5 (Reuters) - Romania's oil and gas group OMV Petrom :* OMV Petrom says resumes operations at its Brazi power plant on July 5, 2017 after the plant successfully passed the corresponding tests..* Due to the steam turbine transformer failure in April 2017, coupled with the previously announced failure of one gas turbine transformer, the Brazi power plant became fully unavailable..* Says that after replacement of the steam turbine transformer, the plant has resumed operations and is now available at half capacity (420 MW).* As notified to REMIT, it is expected that the plant will become fully operational in Oct. 2017 after the replacement of the gas turbine transformer..  Full Article

OMV sees windfall of almost 1 bln eur in Q2 from Petrol Ofisi sale
Tuesday, 13 Jun 2017 08:17am EDT 

June 13 (Reuters) - OMV ::Says net cash impact of Petrol Ofisi sale on OMV will be slightly below 1 bln eur in Q2 2017.  Full Article

OMV says signs MOU with Gazprom on supplying gas to central Europe
Friday, 2 Jun 2017 08:18am EDT 

June 2 (Reuters) - OMV ::Says signs MOU with Gazprom outlining potential cooperation in developing gas transmission infrastructure required for providing natural gas supplies to central and southeastern Europe.Says a framework agreement was also signed to collaborate with Gazprom in the small-scale LNG sector.Says the parties intend to cooperate in a joint integrated project for a small-scale LNG production terminal in the area of the Russian Black Sea coast.  Full Article

OMV CEO says dividend will rise if cash flow allows
Wednesday, 24 May 2017 08:46am EDT 

May 24 (Reuters) - Omv Ag :Omv CEO Rainer Selle tells shareholders plan is to increase dividend gradually according to free cash flow, profit development.OMV CEO says can reach 500,000 boe/d output in mid term.  Full Article

Romanian OMV Petrom Q1 net profit surges to 619 mln lei but below market forecast
Thursday, 11 May 2017 01:51am EDT 

May 11 (Reuters) - Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV :Posts first-quarter net profit attributable to shareholders of 619 million lei ($147.86 million), compared with 291 million lei in the same quarter of last year..Analysts expected it to report a first-quarter net profit of 680 million lei..Says result is due to cost controls, strong refining margins and fiscal relaxation, especially the scrapping of a tax on special buildings as of January..Says capital expenditure decreased to 353 million lei compared with 769 million in the same quarter of 2016, mainly due to reduced expenditures from Neptun Deep and the finalization of some projects. .Says expects CAPEX including capitalized exploration and appraisal of around 800 million euros, about 40 percent higher on the year, with the bulk dedicated to Upstream..Further company coverage: ROSNP.BX.  Full Article

Verbund says OMV to take a 40 % stake in SMATRICS
Thursday, 27 Apr 2017 06:22am EDT 

April 27 (Reuters) - Verbund AG ::OMV <<>> will take a 40 % stake in SMATRICS, Austria's leading full-service provider of e-mobility.  Full Article

Romania's OMV Petrom says earmarks 850 mln lei for 2016 dividend payment
Wednesday, 26 Apr 2017 05:41am EDT 

April 26 (Reuters) - Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV :* Resolutions passed at OMV Petrom S.A. General Meeting of Shareholders.* The Ordinary General Meeting of Shareholders approved the Executive Board's proposal to distribute dividends of 0.015 lei/share for 2016. The total gross value of the dividends to be distributed amounts to approximately 850 million lei ($204.49 million). .* Says approves investment budget of OMV Petrom S.A. for 2017 - OMV Petrom S.A. thereby estimates that investments for 2017 will amount to 4.56 billion lei, an 83 percent increase from 2016 (2.49 billion lei)..* Says main investment focus continues to be on Upstream, for which investments of more than 4.15 billion lei have been budgeted (91 percent of the budget)..* Says approves the appointment of members to the Supervisory Board for a 4-year mandate from April 28, 2017, to April 28, 2021..* Says current composition of the Supervisory Board is: Rainer Seele, Reinhard Florey, Manfred Leitner, Johann Pleininger, Daniel Turnheim, Jochen Weise, Joseph Bernhard Mark Mobius, Radu Cojocaru and Mihai Busuioc (the last two are new members, proposed by the shareholder the Romanian State, through the Energy Ministry). .  Full Article

Uniper and four European energy companies sign Nord Stream 2 gas pipeline financing
Monday, 24 Apr 2017 09:37am EDT 

April 24 (Reuters) - Uniper SE ::Uniper and four European energy companies sign financing agreements with the developer of the Nord Stream 2 pipeline project.Uniper has committed to provide financing for up to 950 million euros ($1.03 billion) reflecting 10% of total cost of project, which is currently estimated to be 9.5 billion euros.About 30% of such financing will be covered by a long-term funding facility, expected to be drawn down by Nord Stream 2 AG in 2017..In addition, uniper is currently investigating a potential partnering approach to share uniper's engagement in financing of Nord Stream 2 project.  Full Article

Odfjell Drilling in rig deal with OMV
Friday, 21 Apr 2017 06:48am EDT 

April 21 (Reuters) - Odfjell Drilling Ltd :Deepsea Bergen rig signs a one well contract with OMV.Signed a firm contract with OMV for one firm "high pressure high temperature"-well ("hpht-well") in pl 644 plus options for two additional hpht-wells on norwegian continental shelf.Contract commencement is scheduled to q1 2018 and has an expected duration of approx. 100 days (excluding options).  Full Article

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OMV, Gazprom may revive Black Sea gas pipeline extension: Der Standard

VIENNA Austrian energy group OMV and Russia's Gazprom are considering reviving a gas pipeline project through the Black Sea connecting Russia to central and southern Europe, an Austrian newspaper said on Tuesday.