Edition:
United States

OMV AG (OMVV.VI)

OMVV.VI on Vienna Stock Exchange

35.96EUR
24 Mar 2017
Change (% chg)

-- (--)
Prev Close
€35.96
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
454,514
52-wk High
€37.45
52-wk Low
€23.00

Latest Key Developments (Source: Significant Developments)

DEA and Petoro to buy half of Edison's stake in Norway gas field
Thursday, 1 Dec 2016 05:21am EST 

Oil firm DEA says: Oil firms DEA and Norway's state-owned Petoro to each acquire 5 percent stakes in Norway's Dvalin natural gas field, formerly known as Zidane, from Italy's Edison . Edison to maintain 10 percent stake in Dvalin field, down from 20 percent . DEA to hold 55 percent stake in Dvalin, Petoro 35 percent, Edison 10 percent if transactions approved . In October, DEA said it will invest 10 billion Norwegian crowns ($1.18 billion) to develop the Norwegian Sea find together with its partners . Petoro and DEA have previously agreed to buy stakes in Dvalin from Austria's OMV and Denmark's Maersk Oil ($1 = 8.4623 Norwegian crowns) (Reporting by Stine Jacobsen, editing by Terje Solsvik) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Romania's Romanian OMV Petrom Q3 net profit up at 473 mln lei
Wednesday, 9 Nov 2016 01:54am EST 

Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV Posts third-quarter net profit attributable to shareholders of 473 million lei ($117.43 million), compared with with a net loss of 43 million lei in July-September 2015. Analysts expected it to report a third-quarter net profit of 512.4 million lei. [nL8N1D959R] Says group's EBIT stood at 573 million lei in the third quarter, compared with 34 million in the same period of last year. Says has revisited the CAPEX guidance for 2016, from EUR 0.7 bn to EUR 0.6 bn, down 30 percent on the year. Petrom CEO Mariana Gheorghe:.  Full Article

OMV signs the sale of 49% minority stake in Gas Connect Austria to consortium of Allianz and Snam
Thursday, 22 Sep 2016 11:56am EDT 

Allianz Capital Partners: OMV signs the sale of 49% minority stake in Gas Connect Austria to the consortium of Allianz and Snam .Omv Gas & Power GmbH (OGP) and the consortium composed of Allianz, and Snam S.p.a. signed an agreement for the sale and purchase of a 49% minority stake in Gas Connect Austria GmbH (gca).  Full Article

Allianz to own 60 pct of GCA stake vehicle, Snam 40 pct -OMV
Thursday, 22 Sep 2016 11:45am EDT 

: OMV says 49 percent Gas Connect Austria stake to be acquired by company in which Allianz holds 60 percent, Snam 40 percent Further company coverage: [nV9N15C015] (Reporting By Shadia Nasralla) ((Shadia.Nasralla@thomsonreuters.com;)).  Full Article

Romanian OMV Petrom Q2 net profit falls sharply on low oil and gas prices
Wednesday, 10 Aug 2016 12:13am EDT 

Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV : Posts second-quarter net profit attributable to shareholders of 118 million lei ($29.52 million), sharply lower than the 693 million lei recorded in the same quarter of 2015. . Says group's EBIT stood at 218 million lei in the second quarter, compared with 786 million in the same period of last year, driven by lower sales revenues and lower operating income. . Says lower sales were only partially offset by the decrease in exploration expenses, mostly due to lower expenses in the Neptun off-shore block. . Says capital expenditure decreased to 1.34 billion lei from 2.07 million in the first half of 2015, mainly due to substantially lower CAPEX in Upstream. . Petrom CEO Mariana Gheorghe: "In the first half of 2016, the difficult market environment adversely impacted our financial results, outweighing the effects from improved operational performance as well as strict cost discipline and cash management." ($1 = 3.9968 lei) (Reporting by Luiza Ilie) ((luiza.ilie@thomsonreuters.com;)).  Full Article

OMV says Turkey politics have no impact on Petrol Ofisi sale
Tuesday, 9 Aug 2016 11:09pm EDT 

OMV : OMV CEO says 2017 capex expected to reach 2.4 billion eur . OMV upstream chief says currently producing 70k boe/d in North Sea . Upstream Chief Says Aasta Hansteen Field In North Sea Will Bring Additional 15-20k boe/d by end-2018 . CFO says does not expect further write-downs on north sea assets . OMV downstream chief says political situation in Turkey has no impact on Petrol Ofisi sale Further company coverage: [OMVV.VI] (Reporting By Shadia Nasralla) ((Shadia.Nasralla@thomsonreuters.com;)).  Full Article

OMV says new CFO to start in July
Friday, 13 May 2016 04:05am EDT 

Omv : Says CFO reinhard florey starts on July 1, 2016 . Says current CFO and deputy chairman of the executive board David C. Davies will leave the OMV executive board from July 31, 2016, following a one-month handover period Further company coverage: [OMVV.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 53112 255;)).  Full Article

OMV CFO: Russia fields would go on stream 1 year after investment
Wednesday, 11 May 2016 06:44am EDT 

OMV CFO says: OMV CFO says hopes production of new Russia fields to come onstream one year after investment "executed" . OMV CEO says in Gazprom asset swap we're talking about a stake in a North-Sea subsidiary, Gazprom would be co-owner . OMV CFO says downstream margins have been a little weaker in Q2 versus Q1 . OMV CFO says would be "aggressive" to think Borealis will have better year in 2016 versus 2015 Further company coverage: [OMVV.VI] (Reporting By Shadia Nasralla) ((Shadia.Nasralla@thomsonreuters.com;)).  Full Article

BRIEF-Low oil prices push Romanian OMV Petrom Q1 net profit down to 288 mln lei
Wednesday, 11 May 2016 02:20am EDT 

Corrects net profit figure.Romania's top oil and gas firm OMV Petrom , controlled by Austria's OMV : Posts first-quarter net profit of 288 million lei ($73.13 million) compared with 345 million lei in the same quarter of 2015. An equities analyst at Raiffeisen Bank expected a net profit of 155 million lei. . Says results affected by steep oil price drop, only partly compensated by benefits from integration and lower costs. . Says group cut investment by 28 percent on the year in the first quarter. . Petrom CEO Mariana Gheorghe: "Our investments were prioritized based on long-term value generation and CAPEX was reduced by approximately 28 percent year-on-year. This has naturally impacted the total hydrocarbon production in Upstream. However ... the negative Upstream result for Q1/16 was more than compensated by the positive contribution from both Downstream Oil and Gas. ($1 = 3.9383 lei) (Reporting by Luiza Ilie) ((luiza.ilie@thomsonreuters.com;)) Keywords: (CORRECTED).  Full Article

OMV AG ramps up activities in Iran with MoU
Wednesday, 4 May 2016 06:01am EDT 

OMV AG:Says signed MOU with national Iranian oil company (NIOC) concerning evaluation of various fields in Zagros area in west of Iran, for potential future development.Says MOU with NIOC also covers envisaged cooperation in area of technology research, crude and petroleum product swap business.  Full Article

More From Around the Web

Photo

OMV agrees to sell Turkish unit Petrol Ofisi to Vitol for $1.45 billion

FRANKFURT/VIENNA Austrian energy group OMV said it agreed to sell its Turkish fuel supply and distribution unit Petrol Ofisi to Vitol Investment Partnership, managed by the Swiss-based commodities firm Vitol , for 1.37 billion euros ($1.45 billion).