Austria

Austrian oil and gas group OMV reported a secondquarter changed operating result listed below expectations on Wednesday, weighed down by a lower earnings in its energy company. The Vienna-based business said its operating earnings, adjusted to get rid of one-off impacts and inventory gains or losses, rose 4%. to 1.23 billion euros ($ 1.33 billion) in the quarter, 4.5% below. the typical price quote of 1.29 billion euros in a company-provided. survey of experts. OMV warned earlier this month that the energy department, its. greatest by revenues, had actually been struck by legislative changes in. Romania throughout the second quarter....

Stateowned Abu Dhabi National Oil Co, or ADNOC, has been pursuing a series of merger and acquisition deals with European business, with a goal to diversify and develop its chemicals and renewable energy operations. Here are the offers and talks ADNOC is associated with: COVESTRO German chemicals firm Covestro said on Monday it had given ADNOC access to its books and was stepping up talks based on an enhanced 11.7 billion euro ($ 12.55 billion) takeover offer, after more than a year of courtship by the Emirati company. OMV Austrian oil and gas company OMV has remained in talks over...

Uniper this week won a $14 billion arbitration versus Gazprom about suspended gas deliveries given that 2022, a success for the German utility that was bailed out throughout Europe's energy crisis after the Russian firm business stopped materials. Below are some of the most important questions on the legal ramifications following the ruling, which was made by an arbitration tribunal in Stockholm on June 7. WHAT HELD TRUE ABOUT? For years, Russia provided Germany dependably with gas. This concerned an abrupt halt in 2022 following Moscow's intrusion of Ukraine, when Gazprom initially cut and later on suspended shipments to Uniper,...

Austrian energy group OMV raised its 2030 revenues and cashflow assistance during its capital markets day on Thursday, mentioning a more favorable market environment for oil, gas and refining margins. OMV is now targeting a tidy CCS operating result, which leaves out one-off products along with short-term energy inventory holding gains and losses, of a minimum of 6.5 billion euros ($ 7.03. billion) by 2030, compared to a goal of 6 billion euros. formerly. It also raised its projection for operating cash flow to at. least 7.5 billion euros, up from 7 billion euros previously,. partly assisted by a performance...

A Russian court has actually relieved constraints imposed on UniCredit in a suit over an aborted gas task, on Friday allowing the Italian lender to offer Russian sovereign bond holdings as security instead of other possessions and property. The St Petersburg arbitration court ruled in mid May that 462.7 million euros ($ 503 million) in securities, property and accounts coming from UniCredit, along with 100% of shares in UniCredit Leasing and UniCredit Garant, be seized. UniCredit Leasing and UniCredit Garant are subsidiaries of AO UniCredit Bank, the Italian group's Russian arm. UniCredit stated earlier in May that the seizure impacted...

LONDON, May 28 - Dutch and British wholesale gas rates mostly decreased on Tuesday early morning on higher Norwegian exports and above-normal wind power output. The benchmark front-month contract at the Dutch TTF center was down 1.43 euros at 33.80 euros per megawatt hour (MWh) at 0755 GMT, according to LSEG information. The July agreement was down 1.00 euro at 34.10 euros/MWh, while the British month-ahead agreement inched down by 0.45 pence to 81.60 cent per therm. Circulations from Norway are rebounding following outages and the existing upkeep schedule from the start of June will have a. negligible impact from...

Italian gas grid supplier Snam is taking a look at green fuel opportunities, its chief executive informed on Thursday after the group raised its assistance for 2024 monetary results. The 15-billion euro group - which has Europe's largest gas transmission network and handles both storage possessions and melted gas terminals in Italy - is leading a European task to develop a pipeline for green hydrogen. It is also working with Eni on a pilot project to deal carbon capture, transport and storage services in Italy and, independently, supports the production of green gases. In February Snam began sounding out the...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Thursday: ** Commodities group Glencore is studying an method for Anglo American, two sources stated, a. advancement that could stimulate a bidding war for the 107-year old. mining business. ** U.S. personal equity firm Bain Capital is taking a look at. purchasing some essential assets of French tech and software application company Atos. , reported French paper Les Echos on its site,. pointing out sources. ** Pakistan will press back the deadline for business to. express interest in purchasing nationwide carrier Pakistan. International Airlines to May 18,...

Austrian oil & & gas group OMV has started arbitration procedures against the Russian energy group Gazprom, worrying to name a few matters its stake in a Russian gas field, President Officer Alfred Stern said in an interview with Austrian press firm APA on Tuesday. OMV's 25% stake in the Russian natural gas field of Yuzhno-Russkoye was nationalised by Russian President Vladimir Putin's decree in late 2023, something that Austria's partly state-owned firm now wants to challenge in an international court. Kremlin-controlled energy giant Gazprom, which co-owns the gas field, in return has actually submitted claims in a Russian court...

Austrian oil and gas group OMV on Tuesday stated average understood costs for energy declined over the very first three months of the year, tracking a. 3.4% quarterly drop in the typical understood price of crude. Compared to (the fourth quarter of 2023), retail and. industrial margins decreased significantly, OMV said in a. first-quarter trading upgrade. The average realised rate for natural gas fell by 18.3% to. 21.9 euros per MWh, it added. OMV's European refining reference margin was 8.5% greater on. a quarterly basis but down 27.34% year-on-year. Petrochemical margins were mixed, with ethylene and. propylene indicators falling by...

International Atomic Energy Company primary Rafael Grossi has actually asked worldwide development banks and their federal government investors to fund new atomic energy projects, mentioning that stopping working to do so could delay the energy shift, the Financial Times reported on Monday. The U.N. nuclear guard dog chief told the Financial Times in an interview that lack of financing for emissions-free nuclear energy by multilateral loan providers such as the World Bank and Asian Development Bank was out of action with the dreams of most of their shareholders, adding that there has been a sea-change in the outlook on nuclear...

Talks related to a prepared $30 billion merger between the chemicals arms of Abu Dhabi National Oil Business (ADNOC) and Austrian oil and gas business OMV have stalled in current weeks, the Financial Times reported on Friday. The parties halted settlements to browse a series of disagreements, which include the name of the merged unit, the report said, citing people familiar with the matter. It is still possible that talks will resume and a deal will become reached, feet stated. We remain in open-ended and ongoing settlements and can not. comment further, OMV stated in an emailed declaration to ....

Russia said on Wednesday it wanted the International Atomic Energy Company to take a more. unbiased and clearer position on nuclear security, a day after the. head of the company went to a Russian nuclear plant near. where Ukraine has actually mounted an attack into the country. IAEA chief Rafael Grossi toured the Kursk plant on Tuesday. and warned of the threat of a major nuclear accident there. He. stated he had checked damage from a drone strike, which Russia. had actually blamed on Ukraine, but did not say who was responsible. Russian state news firm RIA estimated Foreign Ministry....

It will be hazardous to reboot the Russianheld Zaporizhzhia nuclear reactor in Ukraine as long as war rages around it despite Moscow's wish to fire up the complex, U.N. nuclear watchdog chief Rafael Grossi said on Monday. Grossi held a conference with Russia on the concern last week after officials consisting of President Vladimir Putin told him Moscow intends to restart Europe's biggest nuclear power plant, where the 6 reactors are now closed down as the International Atomic Energy Company has actually suggested on safety premises. The concept, naturally, they have is to reboot at some point. They are not...

German yearahead baseload power on Wednesday afternoon climbed up above 100 euros ($ 108.28) per megawatt hour for the very first time given that late December as a crucial position in the gas market set 4month highs on European supply concerns. The calendar 2025 delivery baseload was at 99.85 euros at 1230 GMT, having struck 100.5 euros when Dutch front month gas agreement hit its highest given that January on concern that Russia might stop gas flows to Austria's OMV . OMV said Russia's Gazprom might suspend shipments in connection with a foreign court judgment gotten by an European energy...

As its 2015 nuclear offer with significant powers has worn down for many years, Iran has actually expanded and accelerated its nuclear program, reducing the time it would need to build a nuke if it picked to, though it rejects wishing to. A senior Iranian Revolutionary Guards leader stated on Thursday that Iran could review its nuclear doctrine amidst Israeli hazards. While it was uncertain exactly what he implied, and that term tends to refer to countries that, unlike Iran, have nuclear weapons, listed below is an overview of where Iran stands. COLLAPSE OF THE DEAL AND BREAKOUT TIME The...

Drone attacks on the Russianheld Zaporizhzhia nuclear reactor in Ukraine need to stop as they might posture a new and seriously unsafe phase in the war, the U.N. nuclear watchdog chief informed his company's. 35nation Board of Governors on Thursday. Drones assaulted Zaporizhzhia, Europe's greatest nuclear power. plant, on Sunday, hitting a reactor building in the worst such. event since November 2022, though nuclear security was not. compromised, the International Atomic Energy Agency (IAEA) has. said. Moscow and Kyiv have consistently accused one another of. targeting the plant since Russia took it weeks after it. got into Ukraine. Both nations...

U.N. nuclear watchdog chief Rafael Grossi stated on Tuesday there is no direct safety problem from Ukrainian personnel being barred from accessing the Russianoccupied Zaporizhzhia nuclear power plant, which Ukraine has actually called a serious concern. The circumstance is not sustainable in the long term. At the exact same time, in today setup in shutdown, the staff that exists can do the task, International Atomic Energy Agency (IAEA) chief Grossi said in an interview with . He responded: Not straight when asked whether there were any security issues occurring from the staff who are banned from the plant. The Zaporizhzhia...

U.N. nuclear guard dog chief Rafael Grossi stated on Monday he plans to go over Russia's. plans for the Zaporizhzhia nuclear reactor it is inhabiting. in Ukraine when he fulfills Russian President Vladimir Putin this. week. Grossi is due to leave for Russia on Tuesday, he told a. interview on the opening day of a quarterly conference of. his company's 35-nation Board of Governors at which envoys from. various countries marked the second anniversary of Russian. forces seizing the Zaporizhzhia plant. Grossi's journey to Russia has long been prepared. He originally. planned to go there last month after a journey...