OMV AG has started operating at an oil field in Tunisia after taking over an American rivals exploration activities in the North African country.The Austrian energy sector top dog said today (Weds) it carried out first drillings at the El Badr 5 field in Tunisia earlier this week. OMV explained it would produce 1,500 barrels […]
Tag: oil
Gerhard Roiss, the new head of energy sector giant OMV AG, has hinted that the company will reform its strategy.The businessman, who took over from Wolfgang Ruttenstorfer as CEO today (Fri), announced yesterday he assigned a team of firm-internal experts to review and possibly adopt OMVs focus.Roiss explained it was likely that OMV will draw […]
Lufthansa ups pressure on AUA
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Lufthansa bosses say they see an immense potential for savings at affiliate Austrian Airlines (AUA).The German aviation giant acquired a majority stake in AUA in September 2009. Most analysts claimed at the time that the deal would save the Viennese airline from ruin.Now Lufthansa CFO Stephan Gemkow said AUA could reduce its costs by 130 […]
Immense price hikes registered
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Life keeps getting more expensive in Austria, figures presented today (Weds) show.Inflation rose by three per cent in February compared to the same month in 2010. This is the highest increase since October 2008 when the global economic downturn broke out. The price level soared by 3.1 per cent that month compared to October 2007.Last […]
Rising oil price fuels SBO earnings
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Oil industry equipment maker Schoeller-Bleckmann Oilfield Equipment AG (SBO) said its earnings improved by almost 75 per cent last year.SBO announced it achieved earnings before interest and taxes (Ebit) of 49.4 million Euros in 2010, up by 74.8 per cent in a year. The Ternitz-based firms turnover rose by 22.3 per cent to 307.7 million […]
OMV boss rejects Libya pull-out appeals
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OMV chief Wolfgang Ruttenstorfer has made clear a retreat from Libya is not on the firms agenda.The Austrian company is one of a few firms which are still getting oil from the North African country where the troops of political leader Muammar al-Gaddafi are combating opposition groups calling for democracy.Ruttenstorfer said yesterday (Weds) OMV would […]
Car petrol prices approach all-time peak
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Car fuel costs nearly 10 per cent more than at the beginning of the year, a motorists association has claimed.Car club ÖAMTC announced today (Thurs) that one litre of car petrol cost up to 9.5 per cent more at the moment than it did in early January. The organisation pointed out that the recently introduced […]
AUA ticket price hike likely
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Austrian Airlines (AUA) bosses have warned that ticket prices may rise in the near future.AUA co-chief Andreas Bierwirth said today (Fri) that the airline could increase its kerosene surcharge depending on developments in Libya.The regimes army killed hundreds of people who took to the streets to call for democracy and free elections. Libyan leader Muammar […]
Libyan turmoil fuels oil price level
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Car fuel sold at petrol stations in Austria is set to become significantly more expensive.The price for one barrel of Brent oil reached a three-year high at nearly 120 US dollars (87 Euros) today (Thurs) due to the riots in Libya, a major oil producing country. The cost for one barrel or 159 litres of […]
Building project costs soar up
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Prices in the construction sector rose by nearly four per cent year on year in 2010, Statistik Austria has announced.The agency said today (Thurs) that costs climbed by 3.9 per cent. It explained that roadwork activities were 5.5 per cent more expensive in 2010 than in the previous year, adding that bridge construction rates jumped […]