OMV is aiming for the gas part of its portfolio to grow to up to 60 percent of the total by 2025, from just under half. Overall output is expected to almost double between 2015 and 2025 to 600,000 barrels of oil equivalent per day. New Delhi: While other European energy firms are flocking to […]
Shunning renewables, OMV attracts investors with low-cost fossil fuels
LONDON/VIENNA – While other European energy firms are flocking to renewables, Austria’s OMV is sticking with fossil fuels and telling investors it will deliver rising dividends, lower costs and free cash flow at just $25 a barrel. The strategy seems to be working. OMV has outperformed peers, with its shares up about 25 percent in […]