OMV is
AustriaAustria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
's largest
oilPetroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
-producing,
refiningAn oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas...
and gas station operating company with important activities in other Central European countries. It is Austria's largest listed industrial company (concerning turnover) and one of the largest integrated oil and gas groups in
Central EuropeCentral Europe or alternatively Middle Europe is a region of the European continent lying between the variously defined areas of Eastern and Western Europe...
.
History
OMV was founded in 1956 as a joint stock company. In 1960, the company commissioned the
SchwechatSchwechat is a city south-east of Vienna known for the Vienna International Airport and Schwechater beer. It is also home to the refineries belonging to the Austrian national oil company OMV.- Geography :...
Refinery near Vienna. International activities of OMV started in 1985 with exploration and production activities in Libya. In 1990, OMV enlarged its activities into retail sale inaugurating its first
filling stationA filling station, also known as a fueling station, garage, gasbar , gas station , petrol bunk , petrol pump , petrol garage, petrol kiosk , petrol station "'servo"' in Australia or service station, is a facility which sells fuel and lubricants...
followed by the first filling station on abroad (Hungary) in 1991. In 1995, the company changed its name from ÖMV to OMV.
In 2000s OMV had several important acquisitions. In 2002, it bought 25.1% of shares in
Rompetrol GroupThe Rompetrol Group N.V. , is a Romanian oil company, that operates in many countries throughout Europe:unclear what "market share": refining? downstream? extraction? well services?*Romania - 2nd largest oil company, 40% market share...
In 2003, it took over the international portfolio of Preussag Energie and 45% of Bayernoil-Raffinerieverbund. One year later, it acquired 51% of the Romanian oil and gas group
Petrom SAPetrom is a Romanian oil company, the largest corporation in Romania and the largest gas and oil producer in Eastern Europe operating in several countries:*Romania - largest company;*Moldova - 2nd largest company, 31% market share;...
, which was the largest acquisition in the company's history. In 2005, OMV sold its stake in the Rompetrol Group and together with
IPICThe International Petroleum Investment Company is an investment company established by the government of the Emirate of Abu Dhabi pursuant to an Emiri Decree in 1984. IPIC's mandate is to invest globally in energy and energy-related industries. The Government owns 100 per cent. of IPIC and...
of Abu Dhabi acquired petrochemical company Borealis.
In June 2006, OMV established the OMV Future Energy Fund for identifying projects in the field of
renewable energyRenewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
, providing assistance with their implementation and financing. In 2007, OMV tried to take over Hungarian oil company MOL, but was forced to withdraw its merger proposal in 2008. In 2008, OMV and
GazpromOpen Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
to develop the
Central European Gas HubCentral European Gas Hub AG is a natural gas company in Austria. It was founded in 2000...
, based on the Baumgarten underground gas storage, into a leading hub platform in continental Europe and to establish a gas exchange there for trading on spot and futures markets for gas products.
Operations
In 2006, OMV has consolidated sales of €18.97 billion, a
workforceThe workforce is the labour pool in employment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, country, state, etc. The term generally excludes the employers or management, and implies those involved in...
of 40,993 employees, and a
market capitalizationMarket capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
of approximately €14 billion. It has refining and marketing activities in 13 countries and explorations and production activities in 18 countries on five continents. OMV operates refineries in Germany, Austria and Romania and it runs over 2500 gas stations in
Central EuropeCentral Europe or alternatively Middle Europe is a region of the European continent lying between the variously defined areas of Eastern and Western Europe...
, with brands OMV, Avanti, Stroh and PETROM.
Subsidiaries
OMV holds stakes in several oil and petrochemical companies. Most important shareholdings are:
- Petrom S.A.
Petrom is a Romanian oil company, the largest corporation in Romania and the largest gas and oil producer in Eastern Europe operating in several countries:*Romania - largest company;*Moldova - 2nd largest company, 31% market share;...
(51%)
- Borealis A/S
Borealis AG is Europe's second largest producer of polyethylene and polypropylene and is headquartered in Vienna, Austria.-Overview:...
(36%)
- Agrolinz Melamine International (AMI) GmbH (51%)
- Bayernoil Raffineriegesellschaft GmbH (45%)
- EconGas GmbH (50%)
- Petrol Ofisi A.Ş.
OMV Petrol Ofisi A.Ş. is Turkey's leading fuel products distribution and lubricants company.It was established on February 18, 1941 as a state owned company to import, stock, refine and distribute petroleum products. On July 24, 2000, the company was privatized, and initially 51% of the shares were...
(55.40%)
- Nabucco Gas Pipeline International GmbH
Nabucco Gas Pipeline International GmbH is a Vienna-registered company for the Nabucco pipeline project. The managing director of the company is Reinhardt Mitschek.-Shareholders:The shareholders of the company are:* OMV * MOL...
(16.67%)
OMV Aktiengesellschaft
According to OMV:
- OMV Aktiengesellschaft
- OMV Refining & Marketing GmbH (100%)
- OMV Exploration & Production GmbH (100%)
- OMV Gas & Power GmbH (100%)
- OMV Solutions GmbH (100%)
- Petrom SA (51%)
- Petrol Ofisi
OMV Petrol Ofisi A.Ş. is Turkey's leading fuel products distribution and lubricants company.It was established on February 18, 1941 as a state owned company to import, stock, refine and distribute petroleum products. On July 24, 2000, the company was privatized, and initially 51% of the shares were...
(41.58%)
- OMV Deutschland (10%)
- Borealis
Borealis AG is Europe's second largest producer of polyethylene and polypropylene and is headquartered in Vienna, Austria.-Overview:...
(36 %)
Refining and marketing
According to OMV:
- Refining & Marketing GmbH (100%)
- OMV Deutschland (90%)
- Bayernoil Raffinerie GmbH (45%)
- Adria Wien Pipeline (76 %)
- Borealis (36%)
- OMV Supply & Trading (100%)
- OMV Trading Services (100%)
- OMV Wärme VertriebsGmbH (100%)
- OMV Česká republika (100%)
- OMV Slovensko (100%)
- OMV Hungaria (100%)
- OMV Slovenija (92.25%)
- OMV Hrvatska (100%)
- OMV Bosnia-Hercegovina (100%)
- OMV Italia (100%)
Exploration and production
According to OMV:
- OMV (ALBANIEN) Adriatic Sea Exploration GmbH
- OMV Petroleum Exploration GmbH
- OMV Austria Exploration & Production GmbH
- OMV (BULGARIA) offshore Exploration GmbH
- OMV (EGYPT) Exploration GmbH
- OMV Exploration & Production Limited
- OMV (FAROE ISLANDS) Exploration GmbH
- OMV Global Oil & Gas GmbH
- OMV (RUSSLAND) Exploration & Production GmbH
- OMV (Tunesien) Exploration GmbH
- OMV (Tunesien) Production GmbH
- OMV (TUNESIEN) Sidi Mansour GmbH
- OMV (U.K.) Limited
- OMV (IRELAND) Exploration GmbH
- OMV (Yemen Block S 2) Exploration GmbH
- OMV (IRAN) onshore Exploration GmbH
- OMV (IRELAND) Killala Exploration GmbH
- OMV New Zealand Ltd.
- OMV (NORGE) AS
- OMV of Libya Limited Exploration GmbH
- OMV (YEMEN) Al Mabar Exploration GmbH
- OMV (YEMEN) South Sanau Exploration GmbH
- OMV Oil Exploration GmbH
- OMV Oil & Gas Exploration GmbH
- OMV Oil Production GmbH
- OMV (PAKISTAN) Exploration GmbH
- PEI Venezuela GmbH
- Preussag Energie International GmbH
Gas and power
According to OMV:
- OMV Gas & Power GmbH (100%)
- OMV Gas GmbH (100%)
- AGGM Austrian Gas Grid Management AG (100%)
- AGCS Gas Clearing and Settlement AG (23.1%)
- TAG Trans Austria Gasleitung GmbH (11%)
- OMV Power International GmbH (100%)
- OMV Gaz ve Enerji Ltd. Sti. (100%)
- Nabucco Gas Pipeline International GmbH
Nabucco Gas Pipeline International GmbH is a Vienna-registered company for the Nabucco pipeline project. The managing director of the company is Reinhardt Mitschek.-Shareholders:The shareholders of the company are:* OMV * MOL...
(16.67%)
- EconGas GmbH (59.26%)
- Central European Gas Hub AG (100%)
- Adria LNG d.o.o. (25.58%)
- Gate terminal b.v. (5%)
Shareholders
OMV is a publicly traded company. The main shareholders are ÖIAG (
AustriaAustria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n state holding - 31.5%) and IPIC (20%) with 48.3% of shares freely floating in the market (without treasury shares).
Petrom
The acquisition of 51% stake in
Petrom S.A.Petrom is a Romanian oil company, the largest corporation in Romania and the largest gas and oil producer in Eastern Europe operating in several countries:*Romania - largest company;*Moldova - 2nd largest company, 31% market share;...
was considered controversial as the privatization contract was not been made public and it consists of several disputed clauses. The privatization allegedly produced a market monopoly. Critics say that OMV can use the resources Petrom owns until their exhaustion. Also fixing of tax for gas and oil exploration at 3 to 13.5 percent from the final delivery price for 10 years was criticized. Some critics claimed, that the price €1.5 billion was too low.
MOL
In June 2007, OMV made an unsolicited
bidBidding is an offer of setting a price one is willing to pay for something. A price offer is called a bid. The term may be used in context of auctions, stock exchange, card games, or real estate transactions....
to take over MOL, which was rejected by the Hungarian company. MOL criticized OMV's advertisement in which OMV had suggested the two had already worked together on the European market. MOL thought that to be misleading and unethical and asked OMV to remove the name MOL from those advertisements. OMV dismissed its bid after negative results of the investigation by the European competition authorities.
OMV sold its entire stake to Surgutneftegas in March 2009.