Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

OMV is an Austrian oil and gas company.

 
 
 
 
 

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed
Glob.Revenue, mln.USD
42706

The Vienna-based energy company’s contract with Gazprom runs until 2040. Putin extended the ban on gas purchases from a joint venture with OMV and Wintershall above the established price. Norwegian energy group Equinor has signed a five-year gas supply agreement with Austria's OMV as part of Vienna's fuel diversification strategy. Russian court bans Austria's OMV from Stockholm arbitration against Gazprom.

The Company Statement
December 19, 2023

No new Russian investments; doing strategic review of current Russian gas investments, significantly reduced its exposure to risks related to importing Russian gas later this year. OMV writes off assets in Russia for 2.5 billion euros. Austrian energy group OMV will continue to buy most of its gas from Russia this winter, its chief executive has said, even though the company has secured back-up contracts to fully cover its import needs from other sources. Vladimir Putin signed decrees according to which the shares of two foreign companies, namely the German Wintershall DEA and the Austrian OMV in joint ventures (JV) with Gazprom, will be forcibly sold to Russian owners.

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Statements Archive
November 09, 2024Austria's OMV has no Russian LNG in its contracts, CEO says
July 31, 2024OMV CEO Stern: Independence from Russian Gas and Solid Business Development
July 09, 2024Austria forms commission to review OMV’s Russian gas contract
May 22, 2024Russian court bans Austria's OMV from Stockholm arbitration against Gazprom
May 22, 2024Russian court bans Austria's OMV from non-Russia arbitration against Gazprom, TASS reports
April 01, 2024Gazprom asks Russian court to ban Austria's OMV from pursuing international arbitration
February 12, 2024The Austrian Energy Minister announced her intention to terminate the agreement with Gazprom
February 01, 2024OMV ready for potential halt in Russian gas deliveries
February 01, 2024Austrian OMV called the sale of its Russian asset expropriation
October 03, 2023Austria’s OMV no longer dependent on Russian supply, CEO says
September 28, 2023Austria will reduce its dependence on gas from the Russian Federation at the expense of Norway
September 11, 2023Putin extended the ban on gas purchases from a joint venture with OMV and Wintershall above the established price - Kommersant
August 16, 2023Austria cannot do without gas from Russia, even in the long run
August 07, 2023FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion
August 07, 2023FT: Крупнейшие европейские компании потеряли в России 100 млрд евро с начала войны в Украине
August 06, 2023European companies suffer €100bn hit from Russia operations
July 09, 2023Austria’s OMV to continue to import Russian gas, chief says
February 02, 2023OMV writes off assets in Russia for 2.5 billion euros
February 02, 2023OMV writes off €2.5 billion of Russian assets in 2022
December 22, 2022Gazprom banned purchases from a joint venture with Wintershall and OMV at a price above the limit
July 28, 2022OMV profits rise as it reduces Russian exposure
July 16, 2022Gazprom notifies Austrian OMV of reduced gas supplies
April 05, 2022OMV no longer pursues investments in Russia
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