OMV Group AG history, profile and history video

 OMV AG is engaged in the exploration, production, processing, and supply of oil and gas. It operates through the following segments: Exploration and Production (E&P), Gas and Power (G&P), and Refining and Marketing including petrochemicals (R&M), and Corporate and Other (Co&O). The E&P segment deals with the exploration, production, transportation, and marketing of oil and gas. The G&P segment engages in gas transit, gas storage, marketing, and trading. The R&M including petrochemicals segment covers activities that include the processing of crude oil into fuel, transportation of products, distribution through the company’s filling station network, and wholesale activities. The Co&O segment involves in the management of the group, financing and insurance activities, and other service functions. The company was founded in 1956 and is headquartered in Vienna, Austria.

“Milestones in the OMV success story

Since starting out in Austria as a state-owned company in 1956, OMV has developed into the most successful industrial corporation in Austria and an international flagship. Numerous milestones have been passed on this route to success – come with us on a journey through time!

1956: Founding of the Österreichischen Mineralölverwaltung Aktiengesellschaft   
1960: The Schwechat refinery goes into operation   
1965: Entry into mineral oil sales with Martha and ÖROP (later ELAN)   
1968: First natural gas supply contract with the former USSR   
1970: The Adria-Wien Pipeline goes into operation   
1974: Trans-Austria Gas Pipeline goes into operation   
1980: West-Austria Gas Pipeline goes into operation   
1984: First lead-free gasoline in Austria   
1985: First international E&P operations in Libya   
1987: Acquisition of the Burghausen refineryFirst step taken towards privatization: 15% of capital stock   
1989: Takeover of PCD Polymere GmbHPrivatization of further 10% of ÖMV’s capital stock   
1990: Acquisition of CHEMIE LINZ Group; the first ÖMV filling station opens   
1991: Commencement of the international filling station retail business with the first ÖMV filling stations in Hungary, Czech Republic, Slovakia, Germany and Italy   
1994: Acquisition of 19.6% of ÖMV’s capital stock by IPIC (Abu Dhabi)   
1995: Renaming from ÖMV to OMV   
1996: Secondary Offering of 15% of OMV shares   
1997: The first OMV CNG (compressed natural gas) filling station opens in Austria   
1998: Sale of PCD to Borealis and acquisition of 25% stake in Borealis   
1999: Takeover of the Australian exploration company CULTUS Petroleum NLFirst OMV filling stations in Romania and Bulgaria   
2000: Acquisition of around 10% of the Hungarian oil company MOL   
2001: Expansion of the exploration areas in Yemen, Iran and IrelandNatural gas sector spin-off to OMV Erdgas GmbH   
2002: Acquisition of 25.1% of the Rompetrol GroupFirst OMV filling station in Serbia-Montenegro   
2003: Acquisition of Preussag Energie international E&P portfolioAcquisition of 45% of Bayernoil-Raffinerieverbund as well as 313 BP-filling stations in Germany, Hungary and SlovakiaFirst OMV filling stations in Bosnia and HerzegovinaAcquisition of 139 Avanti filling stations in Austria, Czech Republic, Slovakia and Bulgaria   
2004: Restructuring into a management holdingAcquisition of a 51% stake in the Romanian oil and gas group, PetromCapital increase and issue of a convertible bond, hence the free float representing more than 50% of issued share capital for the first time   
2005: Sale of the stake in the Rompetrol GroupOMV and IPIC acquire 100% of BorealisOMV sells 50% AMI stake to IPIC   
2006: Acquisition of a 34% stake in the Turkish oil and gas group, Petrol Ofisi  
2007: Increase of shareholding in the Hungarian oil company MOL to 20.2%; decision to realize the first OMV power plant project in Petrobrazi (Romania)  
2008: ÖIAG/IPIC consortium increases shareholding in OMV to 50.7%  
2009: OMV sells its entire stake in MOL to Surgutneftegas  
2010: Increase of the stake in Petrol Ofisi from 41.58% to 95.75%
(increased to 97% in 2011)
2011: Acquisition of the E&P portfolio of Pioneer in Tunisia  
2012: Domino-1 well: significant gas discovery offshore Romania with high potential for OMV Petrom
2013: Largest investment in OMV’s history with USD 2.65 bn invested in Statoil deal for interests in Norway and the UK.  
2014: Sale of 45% of Bayernoil to Varo Energy B.V.”

*Information from Forbes.com and Omv.com

**Video published on YouTube by “OMV