OMV

OMV , acronym German dÖsterreichischen Mineralölverwaltung , meaning governed Austrian of management of oil, is an oil company Austrian private, founded in 1956, having its seat with Vienna.

51% of its capital working on the market, 31,5% is held by the public holding of the participations of the Austrian State, 17,5% by IPIC, the public office of the oil participations of the State of Abou Dhabi.

OMV is the 2nd value of the Bourse of Vienna and its index ATX 20, after Telekom Austria and in front of Erste Bank.

History

In 1955, the OMV takes form by the meeting in its center of all the Austrian companies of the sector of the hydrocarbons (Rohöl-Aufsuchungs AG put aside, cofondée at the time by Exxon and Royal Dutch Shell), after being nationalized with the Release by the Soviet troops, in order to create a single actor. It then ensures the importation, storage, the refining, the distribution, but also the production on the national territory since the Austria has some oil-bearing fields, currently accounting for 30% of its yearly consumption. Concerning the hydrocarbon importation, OMV was the first Western company signed with long-term a natural gas supply agreement with the Soviet Union in 1968, in order to guarantee its provisioning.

The process of Privatization is started step by step, with 15% of the capital yielded to private in 1987, then 10% into 1989,15% in 1996. In 2005, with the transformation into actions of convertible bonds, OMV is definitively privatisé, since more than 50% of the capital is held by not-official actors.

Today, OMV remains the only Austrian hydrocarbon company of national and international scale. It is besides the most important company of Austria.

International expansion

Its most important participations abroad are in Hungary with 18,6% of MOL, in Germany with 45% of the joint venture Bayernoil, in Romania with 51% of Petrom, in Turkey with 35,2% Petrol Ofisi, as Slovenia with 100% of Istrabenz, and in Australia with Cultus Petroleum. Except Germany and Australia, these acquisitions of a holding were possible thanks to the recent processes of privatizations, and made it possible OMV in particular to reinforce its presence in Central Europe.

In May 2006, it amalgamates with Verbund, another Austrian company working in the energy sector.

In the field of the exploration-production, OMV is present in 18 countries, like the Norway, the Albania, the Libya, or the Yemen.

External bond

Official site
Official site
Project of resistance of the Eastern-European oil companies vis-a-vis the Russian interests

Sources

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