14 articles
OMV will proceed with its €600 million Austrian hydrogen project after partner Masdar withdrew due to strategic changes. The 140-megawatt electrolysis plant aims to produce 23,000 tonnes of green hydr
Libya's NOC and OMV confirmed the Essar oil discovery is commercially viable, with estimated recoverable reserves of 195 million barrels and initial production of 5,000 barrels per day, supporting the
OMV anticipates higher energy prices will offset sales volume declines from Middle East conflicts, noting Q2 natural gas prices rose 21.5% and crude hit $97.80 per barrel. Improved production mixes ar
OMV CEO warns EU import restrictions threaten energy security by limiting gas suppliers. To close a 70,000 barrel daily production gap by 2030, OMV plans acquisitions over exploration to meet output t
Austrian oil and gas firm OMV reported Q1 operating profit of 1.03 billion euros, exceeding expectations due to strong energy division performance. OMV forecasts Brent crude prices between $85 and $95
Austria ordered an official review into OMV's compliance with new petrol price reduction rules after reports showed insufficient price cuts. OMV denied violating regulations, arguing its pricing calcu
OMV AG reported rising polyethylene and polypropylene margins in Europe during Q1 2026, offsetting declines in sales volumes year-over-year and sequentially.
OMV and ADNOC have formed Borouge International by merging Borouge and Borealis while acquiring Nova Chemicals, creating the world's fourth-largest polyolefin producer. The new entity boasts over 13.6
OMV and ADNOC merged Borouge and Borealis to acquire NovaChem, forming Borouge Group International with 13.6 million tons of polymer capacity. The deal creates the world's fourth-largest polyolefin pr
OMV and Adnoc have appointed Nova Chemicals CEO Roger Kearns to lead their new 13.6-million mt/year polyolefins joint venture, with the merger expected to close by end-March.
OMV forecasts no chemical market recovery prior to the second half, citing European olefin margins below 2025 levels, while expecting steam cracker utilization to increase to approximately 90%.
OMV reported a €236 million clean operating profit for its chemicals business in Q4 2025, nearly tripling the previous year's figure. The gain stemmed from reclassifying the Borealis Group to held for
OMV reported higher European polyolefin sales volumes in Q4, hitting a one-year high, although polyolefin margins narrowed while olefin margins widened.
OMV revised its European outlook, expecting improved ethylene and propylene margins while lowering polyolefin sales forecasts due to import pressure and market challenges.
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