Gas showdown: Why Russia cut Austria’s natural gas supply and what it means for Europe

Gas showdown: Why Russia cut Austria’s natural gas supply and what it means for Europe

Russia’s state-owned energy giant, Gazprom, has suspended natural gas deliveries to Austria, following a high-profile payment conflict with Vienna-based OMV, one of Austria’s largest utility companies. The dispute centers around an arbitration ruling that awarded OMV €230 million in damages for prior disruptions in gas supply. OMV sought to offset this amount against ongoing payments […]

OMV finds up to 140 million barrels of oil equivalent in Norwegian Sea

OMV finds up to 140 million barrels of oil equivalent in Norwegian Sea

OMV (Norge) AS has announced a significant gas discovery in the Norwegian Sea, further solidifying its position as a key energy supplier in Europe. The deepwater exploration well, located approximately 300 kilometers west of the Norwegian mainland and 65 kilometers from the Aasta Hansteen field, has revealed preliminary recoverable volumes of up to 140 million […]

OMV Schwechat refinery in Austria completes major turnaround

OMV Schwechat refinery in Austria completes major turnaround

In a significant development that underscores OMV’s commitment to operational excellence, the OMV Schwechat Refinery announced the successful completion of its routine Turnaround. This meticulous procedure encompassed a comprehensive inspection, maintenance, and modernization of the petrochemical unit and parts of the refining unit, ensuring continued safe and sustainable operations. Since June 2023, the petrochemicals unit […]

Norway approves $18.5bn oil and gas projects amid recovering demand

Norway approves $18.5bn oil and gas projects amid recovering demand

The Norwegian Ministry of Petroleum and Energy has approved 19 significant oil and gas projects on the Norwegian continental shelf, an investment exceeding NOK 200 billion ($18.5 billion), marking a significant step in the nation’s energy industry. These approved projects span new developments, enhancements of existing oil fields, and strategic investments for increased extraction at […]