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For other uses, see OMV (disambiguation).
Joint stock company
Traded as WBAGOMV
Industry Oil and gas
Founded 1956
Headquarters Vienna, Austria
Key people
Rainer Seele (CEO)
Products Oil and gas exploration and production, natural gas trading and transportation, oil refining, electricity generation
Services Fuel stations
Revenue IncreaseUS$43.09 billion (2014)
Number of employees
25,501 (2014)

OMV (formerly "Österreichische Mineralölverwaltung", ÖMV), is an integrated international oil and gas company, headquartered in Vienna. It is active in the upstream (Exploration and Production) and downstream businesses (Refining and Marketing as well as Gas and Power). With group sales of EUR 36 bn, a global workforce of around 25,500 and a market capitalisation of EUR 7 bn (end of 2014), OMV is one of the largest listed industrial companies in Austria.[1]


The OMV head office in the Hoch Zwei skyscraper in Vienna

OMV (ÖMV as it was known then) originated in 1956 as a joint-stock company formed out of the Soviet Mineral Oil Administration (Sowjetische Mineralölverwaltung, SMV), a corporation formed during the Soviet zone of occupation in post-war Austria. Four years later, in 1960, the company opened the Schwechat refinery near Vienna.[2] At the end of 1987, 15% of OMV was privatised, making it the first public listing of a state-owned company in Austria. In 1989, OMV acquired a 25% stake in plastics group, Borealis.

In 1990 the company opened its first filling station in Vienna-Auhof on 26 June 1990.

The International Petroleum Investment Company (IPIC) of Abu Dhabi acquired an initial 19.6% interest in the group at the end of 1994. The following year, the group changed its name from "ÖMV" to "OMV" because the umlaut on the "Ö" is not commonly used in many languages.

In the early 2000s, OMV expanded into Eastern Europe, by acquiring around 10% of Hungarian oil company, MOL and in 2003 it acquired the upstream division of Germany’s Preussag Energie, expanding its filling station networks.

In 2004, OMV became the market leader in Central and Eastern Europe following the acquisition of 51% of Romanian oil and gas group Petrom which constitutes the largest acquisition in OMV’s history.

In the same year, OMV increased its share capital, meaning that more than 50% of the company’s shares were in free float for the first time. Following the sale of 50% of the subsidiary company Agrolinz Melamine International GmbH to IPIC in 2005, the Borealis group was taken over in full together with IPIC.

In 2006, OMV acquired a 34% stake in Turkish oil group Petrol Ofisi - the largest Austrian investment in Turkey to date. In the same year, the board members of OMV and Verbund, the Austrian utility group announced plans for a merger. However, this collapsed due to resistance from Austrian MPs.

OMV increased its stake in Hungarian oil group MOL to 20.2% in 2007. OMV then sold its entire stake in March 2009 after MOL rejected a takeover bid in 2008 and the European Commission imposed tough restrictions for an approval of the deal. OMV acquired the stake held by Dogan Holding in Petrol Ofisi in late 2010, which further increased its stake in the company to 95.75%. By the end of 2014, OMV holds and interest of 98,79% in Petrol Ofisi.[1]

In September 2011, the company unveiled its revised corporate strategy, ‘profitable growth’. The cornerstones of this strategy are: to grow Upstream; to optimise Downstream; and to improve the performance across the entire group.[1]

In 2012, the Domino-1 well in the Romanian Black Sea exploration licence Neptun was the most significant discovery in that year, which has the potential to be OMV´s most important gas discovery ever.[2]

On October 31, 2013 the acquisition deal with Norwegian Statoil containing participations in oil and gas fields and in development projects in Norway and the UK was closed. Proven and probable reserves will climb by about 320 mn boe. With 2.65 bn USD, this is the largest transaction in OMV’s history.[3][4]

A divestment agreement for the 45% stake in Bayernoil was signed in December 2013,.[5] The sale was closed in June 2014.[6]

As of 2015, the business segments "Refining & Marketing " and "Gas & Power" were merged to a new business segment "Downstream". Furthermore, the business segment Exploration & Production was renamed "Upstream". Thus, OMV is subdivided into the two business segments "Upstream" and "Downstream".[1]

Finance information[edit]

Key figures 2014[edit]

With Group sales of EUR 36 bn, a workforce of around 25,500 employees and a market capitalisation of EUR 7 bn by the end of 2014, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies.[1]

Shareholder structure 2014[edit]


The most important shareholdings of OMV Aktiengesellschaft are listed below, with other shareholdings held by the appropriate business segments:[7]

  • OMV Refining & Marketing GmbH (100%)
  • OMV Exploration & Production GmbH (100%)
  • OMV Gas & Power GmbH (100%)
  • OMV Solutions GmbH (100%)
  • OMV Deutschland (100%)
  • Gas Connect Austria (100%)
  • OMV Petrol Ofisi (99%)
  • OMV Petrom SA (51%)
  • Borealis (36%)

Business segments[edit]


World location of the OMV company, for exploration and production activities

OMV's upstream business segment has a strong base in Romania and Austria and is growing its international portfolio steadily. OMV had proven reserves of approximately 11 million barrels (1.7×10^6 m3) at year-end and a production of 309,000 barrels per day (49,100 m3/d) in 2014. Around 85% of its production in 2014 came from EU/OECD countries. The oil/gas split in production is roughly 50/50.[1]


The OMV refinery in Schwechat

The business area Downstream oil operates three refineries: Schwechat (Austria) and Burghausen (Germany), both of which feature with integrated petrochemical production, as well as the Petrobrazi refinery (Romania). OMV thus has an annual refining capacity of 17.4 mn t by the end of 2014 (360,000 bbl/d). The retail network consists of approximately 4,100 filling stations in 11 countries with a strong brand portfolio. Together with a high-quality non-oil retail business (VIVA) and an efficient commercial business, OMV has a leading position in its markets.[1]

The business segment Downstream Gas operates across the entire gas value chain. The gas supply portfolio consists of equity gas and is complemented by contracted volumes. OMV operates a gas pipeline network in Austria and owns gas storage facilities with a capacity of 2.7 bcm (30 TWh). The Central European Gas Hub (CEGH) is established as an important gas trading platform on the gas routes from East to West and also operates a gas exchange. The gas distribution node in Baumgarten is Central Europe’s largest node for gas from Russia. OMV also operates two gas-fired power plants in Romania and Turkey.[1]



The acquisition of 51% stake in Petrom was considered controversial as the privatisation contract was not been made public and it consists of several disputed clauses.[8] The privatisation 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 criticised. Some critics claimed, that the price €1.5 billion was too low.[8]


In June 2007 OMV made an unsolicited bid to take over MOL, which was rejected by the Hungarian company. MOL criticised 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.[9][10]

OMV sold its entire stake to Surgutneftegas in March 2009.[11]

See also[edit]


  1. ^ a b c d e f g h i OMV Annual Report 2014
  2. ^ a b "OMV History". OMV. Retrieved 31 March 2014. 
  3. ^ OMV Press Release. OMV agreed on a major asset acquisition in Norway and the United Kingdom (UK) with Statoil. Retrieved on March 27, 2014.
  4. ^ OMV Press Release. OMV closes acquisition deal with Statoil. Retrieved on March 27, 2014.
  5. ^ OMV Annual Report 2013
  6. ^ OMV Press Release. OMV closes the sale of Bayernoil. Retrieved on April 13, 2015.
  7. ^ OMV Group Presentation. Retrieved on April 13, 2015.
  8. ^ a b Cristina Muntean (18 December 2006). "Petrom deal examined". CBW. Retrieved 7 December 2008. [dead link]
  9. ^ "European Commission closes door on OMV-MOL merger plan". 7 August 2008. Retrieved 7 December 2008. 
  10. ^ "OMV gets EU objections statement over MOL takeover bid". Forbes. 24 June 2008. Archived from the original on 24 May 2011. Retrieved 6 December 2008. 
  11. ^ "OMV sells MOL stake". OilVoice. 30 March 2009. Retrieved 30 March 2009. 

External links[edit]