OMV

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OMV Aktiengesellschaft

logo
legal form Corporation
ISIN AT0000743059
founding 1956
Seat Vienna , AustriaAustriaAustria 
management Rainer Seele (CEO)
Number of employees 19,845 (2019)
sales 23.46 billion euros (2019)
Branch Extraction, processing and distribution of oil and natural gas
Website www.omv.com

The OMV headquarters in 1020 Vienna in the high-rise " Hoch Zwei "

The OMV (formerly Austrian Mineral Oil Administration , OMV) is an international, integrated oil and gas company with activities in the upstream and downstream areas and the headquarters in Vienna .

With a group turnover of over 23.46 billion euros and a workforce of around 19,845 in 2019, OMV Aktiengesellschaft is one of the largest industrial companies in Austria listed on the Vienna Stock Exchange.

history

The history of OMV begins on July 3, 1956, when the company name "Österreichische Mineralölverwaltung Aktiengesellschaft" was officially entered in the commercial register. From the " Soviet Mineral Oil Administration " (SMV) controlled by the Soviet occupying power, the "Österreichische Mineralölverwaltung Aktiengesellschaft " emerged.

In 1960, the Schwechat refinery, southeast of Vienna, went into operation, and in 1968 the first natural gas supply contract was signed with what was then the USSR. In the context of the first IPO of a state company in Austria - that had something to do with the very poor financial situation of the state at the time - 15% of the ÖMV were privatized at the end of 1987. In 1989, ÖMV joined the Danish plastics group Borealis (initially with 25%). The first ÖMV filling station went into operation on June 26, 1990 in Vienna-Auhof . In the same year, ÖMV took over Chemie Linz (which was later incorporated into Borealis).

At the end of 1994, the International Petroleum Investment Company (IPIC) from Abu Dhabi acquired an initially 19.6% stake in the group. In 1995 the company name was changed from "ÖMV" to "OMV", as the umlaut "Ö" is unusual in many languages. OMV also grew in Eastern Europe: in 2000 the company acquired around 10% of the Hungarian mineral oil company MOL , in 2003 OMV also acquired the upstream division of the German Preussag Energie and expanded the filling station network.

OMV became the market leader in Central and Eastern Europe in 2004 with the acquisition of 51% of the Romanian oil and gas company Petrom . In the same year, OMV increased its share capital, so that for the first time more than 50% of the shares were in free float. After the sale of 50% of the subsidiary Agrolinz Melamine to IPIC in 2005, the Borealis Group was taken over in full together with IPIC. In the following year OMV took a 34% stake in the Turkish oil company Petrol Ofisi .

In May 2006 the boards of directors of OMV and Verbund AG (electricity) announced that a merger would be sought. It has been speculated that this idea would be politically rather than economically motivated. At first a merger seemed politically possible, but ultimately it failed due to the resistance of the provincial governors .

In 2007 OMV increased its shares in the Hungarian mineral oil group MOL to 20.2% for the time being; After a takeover offer had been rejected by MOL in August 2008 and the EU Commission had imposed strict requirements for approval, OMV sold all of its shares in March 2009.

Oil refinery in Schwechat near Vienna

At the end of 2010, OMV took over Dogan's holding in Petrol Ofisi, increasing its stake to 95.75%.

In 2012, the Domino 1 well in the Neptune Block off the Romanian Black Sea coast was the most important find of the year, which has turned out to be OMV's most important gas discovery to date.

In October 2013, OMV successfully concluded negotiations on a stake in the oil and gas fields of the Norwegian company Statoil in Norway and Great Britain (west of the Shetland Islands). At 2.65 billion US dollars, this was the largest acquisition in the company's history. In December 2013, an agreement was signed to sell the 45% stake in the German Bayernoil refinery to Varo Energy; the sale was completed in June 2014 .

In 2015, OMV increased its stake in Petrol Ofisi to 100%. In 2017 she sold the company to the Vitol Group.

Nord Stream 2 AG signed financing agreements with ENGIE, OMV, Shell, Uniper and Wintershall. The financial commitment of the European companies underlines the strategic importance of the Nord Stream 2 project for the European gas market. The 1,220-kilometer Nord Stream 2 gas pipeline, with a total capacity of 55 billion cubic meters per year, will provide a direct connection between the reliable Russian gas reserves and European gas customers from the Russian coast through the Baltic Sea to Greifswald (Germany).

September 2018 OMV was the only Austrian company to be included in the Dow Jones Sustainability Index .

On January 31, 2019, OMV and Sapura Energy Berhad signed an agreement to form a strategic partnership. OMV Exploration & Production GmbH, a 100% subsidiary of OMV-Aktiengesellschaft, has a 50% stake in the entire issued share capital of a newly founded joint venture company, SapuraOMV Upstream Sdn. Bhd. acquired. SapuraOMV Upstream Sdn. Bhd. is a leading independent oil and gas company in Malaysia, with expected field life production of around 260 million boe and strong growth prospects.

In January 2019, OMV signed an agreement for a 15% share in ADNOC Refining. The ADNOC subsidiary owns and operates 922,000 barrels of refinery capacity per day in Abu Dhabi. In addition, OMV and ADNOC agreed to set up a trading joint venture with the same investment structure.

In July 2019, OMV and Verbund agreed to set up a photovoltaic open space installation in Austria. The construction of Austria's largest photovoltaic open space system is to take place at OMV locations in the Weinviertel / Lower Austria. The system with a PV output of 16 MWp is distributed between the Schönkirchen and Neusiedl an der Zaya locations. On OMV's own total area of ​​approx. 200,000 m² and with a total of around 60,000 PV modules, the system is expected to deliver around 18 GWh of electricity. Commissioning of the plant is planned for the fourth quarter of 2020.

March 2020, OMV signed an agreement to increase its stake in Borealis to 75%. OMV, which held 36% of the shares in Borealis, will acquire a further 39% of Mubadala, increasing its stake to 75%. Mubadala will keep a 25% stake. The transaction is expected to close by the end of 2020 and is subject to regulatory approval.

CEO

Other board members

Chairman of the Supervisory Board

Company data

Shareholder structure 2019

31.5% Austrian Beteiligungs AG
24.9% Mubadala Petroleum and Petrochemicals Holding Company (MPPH)
29.5% Institutional Investors
6.1% Unidentified free float
7.4% Retail Investors / Brokerage and Trading Accounts
0.4% Employee share program
0.2% Own shares

Business areas

Upstream

OMV upstream annual production per country in 2019

In the Upstream division, OMV concentrates on the exploration, development and production of oil and gas in five core regions: 1) Central and Eastern Europe, 2) Middle East and Africa, 3) North Sea, (4) Russia and (5) Asia Pacific. In 2019, OMV Upstream was active in 13 countries around the world and had proven reserves (1P) of 1.33 billion boe and certain and probable reserves (2P) of 2.38 billion boe. The reserve replacement rate (RRR) was 135% in 2019. The daily production was 487 kboe / d, which corresponds to a total production of 148.7 million boe.

Downstream

OMV Downstream Presence 2019

The Downstream Oil division operates three refineries : Schwechat (Austria), Burghausen (Germany), both of which have integrated petrochemical production, as well as the Petrobrazi refinery (Romania), which mainly processes Romanian crude oil. In addition, OMV holds a 15% share in ADNOC Refining and Trading JV. OMV thus has a total refining capacity of 24.9 million t in 2019. The filling station network consists of over 2,000 filling stations in 10 countries with a strong brand portfolio. Together with the non-oil retail business (VIVA) and the commercial business, OMV is one of the leading companies in its markets. In Downstream Gas, natural gas sales volumes were 137 TWh in 2019. OMV operates a gas pipeline network in Austria and has its own natural gas storage facilities with a capacity of 30 TWh. The Central European Gas Hub (CEGH) is an established gas trading platform. The Baumgarten gas hub (Austria) is the largest hub for Russian gas in Central Europe. OMV also operates a gas power plant in Romania.

Participations (selection)

OMV holds shares in the following companies, among others:

criticism

In the past, OMV was mainly criticized for its involvement in Sudan . In September 2007, OMV signed a preliminary contract with the National Iranian Oil Company , which, according to the Iranian media, will cover a business volume of 22 billion euros over 25 years. While the Austrian government welcomed the contract negotiations on the grounds of greater independence from Russian deliveries, the US government and various organizations such as B. the Jewish World Congress on massive criticism. OMV was called on to stop doing business. In response to protests in front of the 2008 annual general meeting, OMV boss Ruttenstorfer replied that the deal was not yet in sight and that the aim was to ensure more independence of the energy supply from Russian deliveries. The costly takeover attempt by Hungarian competitor MOL also met with criticism at the annual general meeting.

In the summer of 2019, OMV planned to drill for oil off the coast of New Zealand. The environmental protection organization Greenpeace criticized these efforts because of the local dolphin and blue whale population . All other big oil companies have already withdrawn from New Zealand. The Austrian popular initiative for climate change also emphasized the harmful effects of oil production on the climate and described the drilling plans in a broadcast as “irresponsible”.

The fact that OMV announced in November 2019 that it would sell the oil field was not enough for Greenpeace, as oil and gas wells are still planned and OMV still owns two gas fields.

Web links

Commons : OMV  - collection of images, videos and audio files

Individual evidence

  1. ↑ a b c d e f g OMV Annual Report 2019 , Annual Report 2019, accessed on July 13, 2020
  2. ↑ OMV Annual Report 2016 , Overview of OMV, p. 50. Accessed April 7, 2017.
  3. ↑ 60 years and not a bit quiet: OMV's eventful history.Retrieved on July 4, 2016.
  4. ↑ OMV press release, ExxonMobil / OMV Petrom: Deep water gas discovery off the Romanian Black Sea coast. Retrieved April 7, 2017.
  5. ↑ OMV press release, OMV completes acquisition with Statoil. Retrieved April 7, 2017.
  6. ↑ OMV press release, OMV: Downstream restructuring on track. Retrieved April 7, 2017.
  7. ↑ OMV press release, OMV sells the 100% subsidiary OMV Petrol Ofisi to the Vitol Group. Retrieved April 7, 2017.
  8. ↑ Demystifying Nord Stream 2: OMV's Reasons to Participate in the Project.Retrieved July 7, 2019
  9. ↑ OMV included in the Dow Jones Sustainability Index.Retrieved September 20, 2018.
  10. ↑ OMV and Sapura Energy enter into agreement to form a strategic partnership . Accessed July 7, 2019.
  11. ↑ ADNOC signs groundbreaking strategic partnership agreements with Eni and OMV in refining and trading. Accessed July 7, 2019.
  12. ↑ OMV and VERBUND are intensifying their strategic energy cooperation. Accessed on July 13, 2020.
  13. ↑ OMV increases Borealis shares. Accessed July 7, 2019.
  14. ↑ a b German top manager Rainer Seele becomes the new OMV boss . Article dated March 27, 2017, accessed December 20, 2017.
  15. ^ Kurier: Peter Löscher becomes head of the OMV Supervisory Board . Article dated April 7, 2016, accessed September 26, 2017.
  16. ↑ The OMV Supervisory Board . Retrieved September 26, 2017.
  17. ↑ Wolfgang Berndt is the new head of the OMV Supervisory Board . Article dated May 15, 2019, accessed May 15, 2019.
  18. ↑ OMV Annual Report 2016, direct and indirect holdings of OMV Aktiengesellschaft, p. 209ff. Retrieved April 7, 2017.
  19. ^ Philipp-Stephan Schneider: Engagement of multinational companies in crisis regions. Using the example of OMV in Sudan, diploma thesis, University of Vienna 2004
  20. ↑ taz: With Bloody Hands , June 10, 2010
  21. ↑ Telepolis: Swiss energy company signs billion dollar deal with Iran , March 17, 2008
  22. ↑ Wirtschaftsblatt: Gusenbauer and Schüssel for OMV / Iran project ( memento from June 10, 2015 in the Internet Archive ), April 25, 2007
  23. ↑ Reuters: US to discuss OMV's Iran gas deal with Austria , April 23, 2007.
  24. ↑ OMV: First the food, then the morale. In: The press. May 14, 2008.
  25. ↑ Greenpeace against OMV in New Zealand: "Stay away from whales!" In: www.diepresse.com. Retrieved November 23, 2019 .
  26. ↑ The popular initiative condemns New Zealand drilling operations by OMV. In: www.ots.at. Retrieved November 23, 2019 .
  27. ↑ OMV withdraws from oil production in New Zealand. In: kurier.at. Retrieved November 23, 2019 .

Coordinates: 48 ° 12 ′ 49.2 ″  N , 16 ° 24 ′ 50.7 ″  E