OMV Aktiengesellschaft
 |
|
| Traded as | WBAG: OMV |
|---|---|
| Industry | Oil and gas |
| Founded | 1956 |
| Headquarters | Vienna, Austria |
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Key people
|
CEO Rainer Seele |
| Products | Oil and gas exploration and production, natural gas trading and transportation, oil refining, electricity generation |
| Services | Fuel stations |
| Revenue |
 19,26 Billion EUR (2016) |
|
Number of employees
|
22,544(2016) |
| Website | www |
OMV (formerly abbreviation for "Österreichische Mineralölverwaltung" or ÖMV (English: Austrian Mineral Oil Administration)) is an international, integrated oil and gas company, headquartered in Vienna. It is active in the Upstream and Downstream businesses. OMV defines its business reason as follows: OMV is producing and marketing oil & gas, innovative energy and high-end petrochemical solutions – in a responsible way. With group sales of EUR 19 bn, a global workforce of 22,500 employees in 2016 OMV is one of the largest listed industrial companies in Austria.
The history of OMV began on July 3, 1956, when the company then known as “Österreichische Mineralölverwaltungs Aktiengesellschaft” was officially entered into the commercial register. Consequently, the Soviet Mineral Oil Administration (Sowjetische Mineralölverwaltung, SMV), a corporation formed during the Soviet zone of occupation in post-war Austria became “Österreichische Mineralölverwaltungs Aktiengesellschaft”.
Four years later, in 1960, the company opened the Schwechat refinery near Vienna, in 1968 the first natural gas supply contract with the former USSR were entered. 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.
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Wikipedia