OMV Group history, company profile (overview) and history video
OMV AG is a multinational integrated oil, gas and petrochemical company headquartered in Vienna, Austria. It operates through the following business sectors: Chemicals & Materials, Fuels & Feedstocks, and Energy.
HISTORY
OMV was founded in 1956 as Österreichische Mineralölverwaltung Aktiengesellschaft (ÖMV Aktiengesellschaft).
In 1957, the natural gas stations Auersthal and Baumgarten went into operation.
In 1960, the Schwechat refinery went into.
In 1965, the company integrated its first sales organization (Martha and ÖRÖP) – brand name Aral and Elan (since 1968)
In 1968, the company signed the first natural gas supply contract with the former USSR.
In 1985, the first international E&P operations began in Libya.
In 1987, the Burghausen refinery was acquired.
In 1990, the company acquired Chemie Linz Group, entering the plastics business. The first ÖMV filling station was also opened.
In 1991, the company entered the international filling station business, with the first ÖMV filling stations in Hungary, the Czech Republic, Slovakia, Germany, and Italy.
In 1995, the company was renamed from ÖMV to OMV.
In 1998, OMV acquired a 25% stake in Borealis (today 36%).
In 2004, OMV acquired a 51% stake in the Romanian oil and gas group, Petrom.
In 2006, OMV entered into the Turkish filling station business through the acquisition of Petrol Ofisi.
In 2007, the company increased its shareholding in the Hungarian oil company MOL to 20.2%.
In 2009, OMV sold its entire stake in MOL to Surgutneftegas.
In 2011, the E&P portfolio of Pioneer in Tunisia was acquired.
In 2013, OMV acquired shares in North Sea assets from Statoil (now known as Equinor).
In 2015, the company made a resolution for strategic cooperation with Gazprom (asset swap).
In 2017, the company acquired a 24.99% stake in the Yushno Russkoje gas field in West Siberia, and divested all stakes of Petrol Ofisi and OMV UK.
In 2018, the company acquired the Shell Upstream Business in New Zealand, and awarded a 20% stake in two offshore oil fields in Abu Dhabi: SARB and Umm Lulu.
In 2018, OMV and Gazprom also signed a “Basic Sale Agreement” which foresees a potential acquisition of a 24.98% interest in Achimov 4A/5A.
In 2019: the company signed an agreement for the acquisition of a 15% stake in ADNOC Refining (Abu Dhabi), and acquired a 50% stake in SapuraOMV Upstream in Malaysia.
In 2020, OMV increased its participation in Borealis up to 75%.
With more than 22,000 employees, OMV AG is considered one of the largest industrial companies in Austria. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.omv.com/en.
**Video published on YouTube by “OMV“