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OMV AG (OMVKY.PK)

OMVKY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

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

OMV invests around 110 million euros in Schwechat refinery
Tuesday, 11 Apr 2017 06:05am EDT 

OMV AG :Invests around 110 million euros ($116.64 million) in Schwechat refinery as part of 2017 turnaround.  Full Article

Lundin's incoming CFO says may raise output forecast
Thursday, 16 Mar 2017 06:48am EDT 

Lundin Petroleum's incoming CFO Teitur Poulsen told an energy conference in Oslo on Thursday: Retains current Norway production guidance of 70,000-80,000 boepd for the time being . Lundin could potentially revise output guidance when presenting Q1 results due to higher output from Edvard Grieg field than previously expected, but need to asses more data . Lundin has earlier announced plans to spin off its non-Norwegian business Further company coverage: [LUPE.ST] (Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

OMV says Petrol Ofisi sale to weigh on clean CCS EBIT
Monday, 6 Mar 2017 05:38am EST 

OMV AG says : there will be an approximately 100 million eur negative impact in clean CCS EBIT following the divestment of OMV Petrol Ofisi - analyst presentation . unit production costs in Yuzhno Russkoye are expected to be below 2 USD per barrel of oil equivalent on average for the contracted period - analyst presentation . Yuzhno Russkoye gas will be sold to Gazprom, volumes will be 50 percent sold domestically at Russian domestic price netback and 50 percent at German import price netback - analyst presentation Further company coverage: [OMVV.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 53112 255;)).  Full Article

Uniper does not rule out smaller portfolio adjustments
Monday, 6 Mar 2017 03:40am EST 

Uniper : Says sale of gas field stake leads to negligible writedown . Says does not rule out smaller portfolio adjustments, but has nearly reached target in terms of asset disposals Further company coverage: [UN01.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

More From Around the Web

OMV extends CEO Seele's contract until 2020

VIENNA, May 24 Austrian energy group OMV AG said on Wednesday Chief Executive Rainer Seele's contract would be extended by two years to the end of June 2020.