OMV

OMV Opens Plant for Plastic Recycling

OMV has announced the expansion of its innovative ReOil technology at the Schwechat refinery near Vienna.

ADNOC and OMV to Create Global Polyolefins Group

OMV and ADNOC agreed to combine their Borealis and Borouge shareholdings into Borouge Group International. ADNOC has also signed a share purchase agreement with Nova Chemicals, an indirect wholly owned subsidiary of Mubadala Investment Company, to acquire 100% of Nova Chemicals for an enterprise value of $13.4 billion. In addition, ADNOC and OMV have agreed for Borouge Group International to take over Nova Chemicals after closing.

Clariant & OMV to Collaborate on Low Carbon Footprint Ethylene

Clariant and OMV today announced their intended collaboration for lower carbon footprint ethylene supply. To address growing demand for sustainable options in Europe, this partnership will help both companies meet their sustainability targets and support their customers' carbon reduction strategies.

ADNOC Completes Acquisition of 24.9% Stake in OMV

Abu Dhabi National Oil Company (ADNOC) has completed the acquisition of a 24.9% stake in Austrian energy group OMV from Mubadala, the sovereign wealth fund of the United Arab Emirates. Financial details of the transaction, which was announced in December 2022, were not disclosed.

OMV to Divest Upstream Gas Assets in Malaysia to TotalEnergies

Austrian oil, gas and chemicals group OMV has signed an agreement to divest its 50% stake in Malaysia’s natural gas producer SapuraOMV Upstream to TotalEnergies for $903 million, including the transfer of a $350 million loan granted by OMV to SapuraOMV.

OMV and Synthos Partner on Sustainable Butadiene for Synthetic Rubber

Austrian energy group OMV and synthetic rubber producer Synthos have signed a Memorandum of Understanding (MoU) under which the two companies will cooperate on sustainability. The focus is on the supply of sustainable raw materials that can be used for the production of high-performance tires.

OMV and Wood Collaborate to License Chemical Recycling Technology

Austrian oil, gas and chemicals group OMV is collaborating with British engineering and consulting group Wood for the worldwide commercial licensing of OMV’s proprietary ReOil technology. The agreement follows a respective Memorandum of Understanding, that was signed between the two companies last year.

Lanxess Warns on Earnings as Buyout Talk Circles Covestro

Two former spinoffs from Bayer were competing for headlines on Jun. 19 and 20, as specialty chemicals company Lanxess issued a profit warning amid rumors that Middle East chemicals and energy behemoth Abu Dhabi National Oil Company (ADNOC) had made a takeover offer for engineering plastics producer Covestro.

ADNOC to Take a 24.9% Stake in OMV

In a deal announced shortly before Christmas that only attracted significant attention in the new year, Abu Dhabi National Oil Company (ADNOC) said it is acquiring a 24.9% stake in Austrian energy group OMV from Mubadala, the sovereign wealth fund of the United Arab Emirates.

OMV Petrom Plans New Aromatics Plant

Romanian oil group OMV Petrom is investing €130 million to add an aromatics plant at its Petrobrazi refinery. The new unit, to be installed over the next three years, will replace an existing facility that started production in 1961.

OMV Shifts Focus to Sustainable Fuels, Chemicals and Materials

Austrian oil, gas and chemicals group OMV has outlined its Strategy 2030, which will see it transform into a sustainable fuels, chemicals, and materials company with a strong focus on the circular economy. The company said the plans represent the most fundamental strategic shift in its history.

On the Way to Climate Neutrality

The EU Commission’s ambitious plan for a European Green Deal, launched shortly before the pandemic struck in early 2020, aims to make the continent the world’s first climate-neutral region by 2050. The goals spelled out in January last year call for reduction of greenhouse gas emissions by at least 50% up to 2030, compared with 1990 levels.

OMV Plans Glycerin-to-Propanol Pilot Plant

Austrian energy and chemicals company OMV has announced plans to invest about €30 million in a pilot plant that will produce propanol from glycerin. Construction is planned to start in the second quarter of 2021, with the plant due to go into operation in 2023.

OMV Invests in Green Hydrogen Plant

OMV and Kommunalkredit Austria – a bank specializing in infrastructure and energy financing – are investing in the construction of Austria’s largest electrolysis plant to produce green hydrogen. Total investment will be about €25 million, which will be split equally between both partners.

OMV Hikes Burghausen Olefins Output

Austrian multinational energy and petrochemicals group OMV is expanding and modernizing the cracker and associated units at its Burghausen refinery in Germany. The measures will increase annual ethylene and propylene capacity by about 50,000 t/y, meeting growth in demand for petrochemical products both in the Bavarian Chemical Triangle and in international markets, OMV said.

Borealis and Partners in Austrian CO2 Project

Borealis, OMV, electricity group Verbund and cement company Lafarge Zementwerke have signed a Memorandum of Understanding to plan and construct a full-scale carbon capture plant in Austria. The captured CO2 would be used to make synthetic fuels, chemicals or plastics.

OMV Plans Divestments to Fund Borealis Buy

OMV Boosts Share in Borealis

Chemical Recycling: Racing to Close the Loop

Mubadala, OMV and Chandra Asri in Petchems Pact

OMV Builds Isobutene at Burghausen

ADNOC signs MoUs with OMV and Borealis

ADNOC Forms JVs with Eni and OMV

Adnoc and OMV Explore Joint Opportunities

Abu Dhabi Merges IPIC and Mubadala

Mario Mehren to Head Wintershall

Foster Wheeler Wins OMV Services Contract

Statoil Plans North Sea Pipeline Link

A Gas Future for Petrochemicals?

Central European Gas Hub Keen on Gazprom Taking Stake

Daimler, Linde Plan Hydrogen Fuel Stations

UPDATE: Libyan Oil Production, Outage, Exports, Customers

OMV's Wolfgang Ruttenstorfer Chief Cleared Of Insider Trading

OMV's Wolfgang Ruttenstorfer Rejects Insider Charge As Trial Starts

OMV to Buy Pioneer Natural's Tunisia units for $866 Million