OMV starts low-priced petrol station expansion

Oil and gas company OMV AG has presented plans to open dozens of discount petrol stations.The Vienna-based firm said today (Mon) it would do so by expanding its Avanti low-cost service station range in the coming years. OMV currently runs 22 such branches in Austria. The firm explained the plan was to manage 50 low-priced filling stations overall.OMV said drivers will be able to get petrol 24 hours a day at the new Avanti stations where products are can be paid with credit and banks cards. One litre of diesel and regular fuel costs a few Eurocents less than at regular OMV stations.OMV, which acquired Avanti in 2003, manages 2,300 petrol stations in 11 European countries. Its market share in Austria ranges around 18 per cent. The company also engages in the exploration of gas and oil fields all over the world. OMV achieved a turnover of 23.32 billion Euros and net profits of 921 million Euros in 2010. The company has around 31,400 employees.OMV’s announcement to extend its budget petrol station network come days after inflation statistics show that car fuel cost 21 per cent more in Austria last month than in March 2010.The tradition-rich company is also feeling the pressure of low-cost service station operators like Markus Friesacher. The Salzburg-based businessman co-operates with supermarket chain Hofer in running 26 petrol stations in Austria.Motorist associations have appealed to political decision-makers to take action over soaring fuel prices. International studies however show that car petrol is significantly cheaper in Austrian than in most European countries.