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OMV AG

OMV AG

Industry: 
Energy
Symbol: 
WBAG:OMV
Country: 
Austria
Contact Information: 
Sources: 

"As it tries to lure back oil companies, Iran also signaled it could offer production-sharing agreements in the Caspian Sea. Such deals are considered attractive to companies but haven't been awarded in Iran since the 1970s. Bijan Zanganeh, who was in Vienna for the meeting of the Organization of the Petroleum Exporting Countries, said he had met with executives from Anglo-Dutch oil giant Shell, the world's largest oil trader Vitol, Austria's and Italy's Eni SpA…'With OMV, we discussed about many things and [with] Shell only about the general willingness for cooperation in future and placing the money that we have in account of Shell,' Mr. Zanganeh told reporters." (Wall Street Journal, "European Energy Companies Meet With Iranian Oil Minister," 12/5/13)

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"This year, 166 Chinese companies are present at the fair compared to 100 companies last year,' a senior oil ministry official said. 'The number of foreign companies are up 35 percent,' to 496 out of the total 1,550, he said. He said that despite UN sanctions and bilateral punitive measures by the United States and the European Union against Iran, 'Germany is present with 64 companies, Italy with 36, Britain with 37, Spain with 14, France with 15 and South Korea with 33 companies.' Major Western energy groups such as Total of France, Norwegian Statoil and OMV of Austria, who have withdrawn from Iran, made a 'symbolic' appearance at the fair." (AFP, "Chinese Firms Dominate Iran Oil Exhibition," 4/15/11)

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"Oil and gas group OMV has not renewed a fuel supply contract with Iran's state airline because of international sanctions against the Islamic Republic, an Austrian newspaper reported. The move means Iran Air planes can no longer fill up at Vienna airport, the Wiener Zeitung reported in its weekend edition. The contract expired on March 23, it said." (Reuters, "Austria's OMV Ends Iran Air Fuel Contract," 3/27/10)

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"The U.S. Congress is moving toward passing a bill that would strengthen sanctions against Iran over that nation’s nuclear activities by putting greater pressure on Iran’s oil and gas sectors, both of which have underpinned Iranian President Mahmoud Ahmadinejad’s administration. Other companies named in the list, which was announced Thursday, include Austria’s OMV AG..."(Asia News Net, "Japan firms may face U.S. sanctions over Iran," April 25, 2010) 

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"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries.'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli. The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because 'they failed to respond or we were not satisfied with their responses' when asked to provide information to the fund on the investments and their risks. (Dow Jones Newswires, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09)

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"When Austria-based energy company OMV AG saw a chance to develop a lucrative Iranian gas field in April, it jumped at the $18 billion deal despite strong opposition from the U.S." (The Wall Street Journal, "U.S. Sanction Threats Make Little Headway," July 12, 2007)

Response: 

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