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53-480: It is active in the oil and gas upstream and downstream businesses as well as in petrochemicals and plastics recycling . The history of OMV began on 3 July 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),

106-500: 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 privatized, making it the first public listing of

159-721: A gas-fired power plant in Romania. Energy plays a key role in developing the sustainable resources for the future. The Low Carbon Business concentrates on geothermal energy, Carbon Capture and Storage (CCS), and renewable power solutions. In June 2010, the European Coalition on Oil in Sudan (ECOS) published the report "Unpaid Debt", that called upon the governments of Sweden, Austria, and Malaysia to look into allegations Lundin Petroleum (as operator), OMV and Petronas may have been complicit in

212-614: A 15% share in ADNOC Refining & ADNOC Global Trading. In Europe, refining activities are highly integrated with marketing to serve a strong branded retail network and a broad base of commercial customers. Total fuels and other sales volumes in Europe amounted to 16.29 mn t in 2023. The strongly branded retail network comprising 1,666 filling stations accounts for around 35% of sales volumes, while commercial customers are mainly from industrial transportation and construction sectors and account for

265-560: A 26.1% share in the a license as part of the consortium that appointed Lundin as operator to explore and develop oil deposits in Block 5A. It sold its Sudanese assets in 2004 with a net profit of $ 55 million As the operator of the consortium, Lundin Petroleum was responsible for day-to-day management but its managers stood under the supervision of the Operating Committee, that exercised "overall direction and control of all matters pertaining to

318-532: A Russian presidential decree gave the government the power to confiscate and forcibly sell off assets belonging to European energy firms including shares in the Yuzhno-Russkoye oil and gas field , currently owned by OMV and Wintershall Dea . The most important shareholdings of OMV Aktiengesellschaft are listed below, with other shareholdings held by the appropriate business segments: In the Chemicals segment, OMV

371-665: A criminal investigation into links between Sweden and the reported crimes. In 2016, Lundin Petroleum's Chairman Ian Lundin and CEO Alex Schneiter (as operator) were informed that they were the suspects of the investigation. Sweden's Government gave the green light for the Public Prosecutor in October 2018 to indict the two top executives On 1 November 2018, the Swedish Prosecution Authority notified Lundin Petroleum AB that

424-688: A pure oil and gas company into a gas, oil and chemicals group. At the end of 2020, OMV started up Austria's then largest photovoltaic plant with 11.4 MWp in Schönkirchen (Lower Austria). On 31 May 2021, OMV and Verbund close purchase of 51% interest in Gas Connect Austria. On 1 June OMV appoints Alfred Stern as new CEO. On 8 June OMV and MOL Group reach agreement for MOL Group to acquire OMV Slovenia. On 5 March 2022, OMV announced that it would no longer pursue investment in Russia. In December 2022, it

477-510: A state-owned company in Austria. In 1990 the company opened its first filling station in Vienna on 26 June. In 1998, OMV acquired a 25% stake in the plastics group, Borealis . 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

530-489: Is 1000 W/m , with a spectrum similar to sunlight hitting the Earth's surface at latitude 35°N in the summer ( airmass  1.5), the temperature of the cells being 25 °C. The power is measured while varying the resistive load on the module between an open and closed circuit (between maximum and minimum resistance). The highest power thus measured is the 'nominal' power of the module in watts . This nominal power divided by

583-453: Is also called peak power because the test conditions at which it is determined are similar to the maximum irradiation from the sun. Thus this quantity approximates the theoretical maximum production of the panel on a clear sunny day with the panel oriented perpendicular to the sun. The nominal power is generally not reached under actual radiation conditions. In practice, actual conditions will allow for approximately 15-20% lower generation due to

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636-548: Is likely to open early in 2022 and may take two years. The Swedish war crimes investigation raises the issue of access to remedy and reparation for victims of human rights violations linked with business activities. In May 2016, representatives of communities in Block 5A claimed their right to remedy and reparation and called upon OMV, Lundin Petroleum and Petronas and their shareholders to pay off their debt to them. A conviction in Sweden may provide some level of remedy and reparation for

689-521: Is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals and plastics recycling. The Company supplies services and products to customers around the globe through OMV and Borealis and its two joint ventures: Borouge (with ADNOC, based in the UAE and Singapore) and Baystar (with TotalEnergies, based in the United States). The segment comprises

742-544: Is wholly or partially controlled by a State, may entail a violation of that State's own international law obligations. The acquisition of 51% stake in Petrom was considered controversial as the privatisation contract was not made public and it consists of several disputed clauses. The privatisation allegedly produced a market monopoly. Critics say that OMV can use the resources Petrom owns until their exhaustion. Also fixing of tax for gas and oil exploration at 3 to 13.5 percent from

795-723: The Marlborough Sounds from an inflatable boat, intending to occupy it for a week, but due to sickness of one of the protestors, the occupation was abandoned after 14 hours. The protestors came on board of the rig and were flown to New Plymouth and served with a trespass notice. Upstream (petroleum industry) The oil and gas industry is usually divided into three major sectors: upstream (or exploration and production - E&P ), midstream and downstream . The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating

848-556: The Otago , New Zealand coast. The decision was met with indications by local environmental groups, who had successfully fought previous attempts to drill for fossil fuels in the area, that OMV could "expect resistance". In November 2019 an OMV supply vessel in Timaru was occupied for 57 hours by 27 protesters, and 16 people were arrested. In March 2020 two members of Extinction Rebellion Ōtautahi intercepted and boarded an OMV mobile drilling rig in

901-494: 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 then constituted

954-762: The 1,200 km Nord Stream 2 gas pipeline from Russia to Germany. In September 2018, OMV became the only Austrian company listed on the Dow Jones Sustainability Index. In January 2019, OMV took a stake of 50% in the joint venture "SapuraOMV Upstream Sdn. Bhd.", a leading oil and gas company in Malaysia. In January 2019, OMV signed an agreement to acquire a 15% stake in ADNOC Refining ( Abu Dhabi National Oil Company ) in Abu Dhabi. In March 2020, OMV increased its holding in Borealis to 75%, thereby transforming OMV from

1007-612: The Joint Operations and the Joint Property". OMV was permanently represented in the Operating Committee and has never publicly distanced itself from any of its decisions. Between 2001 and 2003, OMV met repeatedly with European human rights advocates led by Sudan Platform Austria, but the company took no effective measures to prevent involvement in human rights violations or undo the adverse impact of Lundin's operations. On 6 April 2001, OMV wrote to Human Rights Watch : "We have reached

1060-774: The UK was closed. With 2.65 billion USD, this then was the largest transaction in OMV's history. A divestment agreement for the 45% stake in Bayernoil was signed in December 2013. The sale was closed in June 2014. In 2015 OMV increased its interest in Petrol Ofisi to 100%. Two years later, in 2017, OMV sold Petrol Ofisi to Vitol Group In 2017, OMV – together with ENGIE , Shell, Uniper and Wintershall – signed financing agreements with Nord Stream 2 AG to build

1113-579: The UN Guiding Principles on Business and Human Rights, acknowledging the duty of business enterprises to contribute to effective remedy of adverse impact that it has caused or contributed to. The company has never publicly showed an interest in the adverse impacts of its activities on the communities in its concession area. According to the Dutch peace organisation PAX, the companies OMV, Lundin Petroleum, Petronas, as well as their shareholders are disregarding

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1166-641: The US followed by Russia and then Canada. The aggregate value of Upstream E&P assets available for sale (Deals in Play) reached a record-high of $ 135 billion in Q3 2013. The value of Deals in Play doubled from $ 46 billion in 2009 to $ 90 billion in 2010. With ongoing M&A activity, the level remained almost the same, reaching $ 85 billion in December 2012. However, the first half of 2013 saw approximately $ 48 billion of net new assets coming on

1219-506: The above-mentioned countries back to the raw DC output in order to report coherent global PV-deployment in watt-peak. In order to clarify whether the nominal power output (watt-peak, W p ) is in fact DC or already converted into AC, it is sometimes explicitly denoted as MW DC and MW AC or kW DC and kW AC . The converted W AC is also often written as "MW (AC)", "MWac" or "MWAC". Just as for W p , these units are non SI -compliant but widely used. In California, for example, where

1272-457: The calculated yearly capacity factor of the plant. The downrating of peak power and the related clipping is different from the losses incurred in the conversion from DC to AC, which happen at any power level and are usually relatively small. Most countries refer to installed nominal nameplate capacity of PV systems and panels by counting DC power in watt-peak, denoted as W p , or sometimes W DC , as do most manufacturers and organizations of

1325-499: The commission of war crimes and crimes against humanity whilst operating in Block 5A, South Sudan (then Sudan ), during the period of 1997 to 2003. The reported crimes include indiscriminate attacks and intentional targeting of civilians, burning of shelters, pillage, destruction of objects necessary for survival, unlawful killing of civilians, rape of women, abduction of children, torture, and forced displacement by government troops. When

1378-506: The company may be liable to a corporate fine and forfeiture of economic benefits of SEK 3,285 (app. €315 million) for involvement in war crimes and crimes against humanity. Consequently, the company itself would also be charged, albeit indirectly, and will be legally represented in court. On 15 November 2018 the suspects were served with the draft charges and the case files. They would be indicted for aiding and abetting international crimes and may face life imprisonment if found guilty. The trial

1431-454: The complementary measure consisting in the one-year suspension of the activity of oil exploitation wells within the radius of Dâmboviţa county which, at the date when the decision becomes final, do not have a completely closed and locked perimeter or which do no have a well cellar grate installed. The court also ordered the publication of the decision of conviction, in extract. . In June 2007 OMV made an unsolicited bid to take over MOL , which

1484-565: The conclusion that, despite problems, the influx of oil revenues could improve the social and humanitarian conditions of the Sudanese. Oil exploration activities also represent immediate benefits to the local population, in terms of employment, infrastructure developments and humanitarian assistance... Our role is to constantly monitor the situation on the ground and to turn our perception of business ethics into reality by responsible action. In 2002, OMV nevertheless commissioned an independent report on

1537-408: The conditions assumed for measuring a given physical quantity . Solar power needs to be converted from direct current (DC, as it is generated from the panel) to alternate current (AC) to be injected into the power grid. Since solar panels generate peak power only for few hours each day, and DC to AC converters are expensive, the converters are usually sized to be smaller than the peak DC power of

1590-431: The considerable heating of the solar cells. Moreover, in installations where electricity is converted to AC , such as solar power plants, the actual total electricity generation capacity is limited by the inverter , which is usually sized at a lower peak capacity than the solar system for economic reasons. Since the peak DC power is reached only for a few hours each year, using a smaller inverter allows to save money on

1643-474: The consortium that OMV took part in operated in Block 5A, approximately 12.000 people died and 160.000 were violently displaced by government troops from their land and homes, many forever. Satellite pictures taken between 1994 and 2003 show that the activities coincided with a spectacular drop in agricultural land use in its concession area. In June 2010, the Swedish public prosecutor for international crimes opened

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1696-724: The deal. In late 2011, OMV acquired the stake held by Dogan Holding in Petrol Ofisi , which further increased its stake in the company to 95.75%. In 2012, the Domino-1 well in the Romanian Black Sea exploration license Neptun was the most significant discovery in that year, which has the potential to be OMV's most important gas discovery ever. On 31 October 2013, the acquisition deal with Norwegian Statoil containing participations in oil and gas fields and in development projects in Norway and

1749-401: The death of a child. OMV Petrom was found guilty and was convicted to a punishment of a criminal fine amounting to RON 28,000. On the civil side, the court assessed the degree of fault of OMV Petrom SA at 50% and the company was obliged to pay moral damages in total amount of EUR 135,000 to the victim's family and material damages and other expenses in total amount of RON 22,000. The court ordered

1802-472: The few victims of human rights violations who will testify in court, but not for the other 200,000 victims who will not be represented in court. The Swedish court cannot impose obligations upon OMV. On 23 May 2019, the T.M.C. Asser Institute for International Law in The Hague organized the conference 'Towards criminal liability of corporations for human rights violations: The Lundin case in Sweden'. OMV endorses

1855-561: The final delivery price for 10 years was criticised. Some critics claimed, that the price €1.5 billion was too low. On 13 December 2022, OMV Petrom was convicted by the Couter of Justice from Gaiesti, Romania of Involuntary manslaughter case. The Local Court Gaiesti ruled its decision in the file where OMV Petrom SA was sent to trial for involuntary manslaughter. The accusation is referring to an incident which occurred in Cobia in 2016 and resulted in

1908-407: The human rights situation in Block 5A , that has not been made public. While Block 5A was operated by Lundin, OMV was a participant in the consortium, the suspicions against the consortium's top managers therefore also concern OMV. The Austrian State's owns 31% of OMV's shares. According to the UN Guiding Principles, which is endorsed by Austria, an abuse of human rights by a business enterprise that

1961-475: The human rights standards that they claim to respect, notably the OECD Guidelines and UN Guiding Principles, because they, A . never conducted an appropriate due diligence for their Sudanese operations; B . made no effort to know their human rights impacts; and C . do not show how they address alleged adverse human rights impacts. OMV (Sudan) Exploration GmbH was a wholly owned subsidiary of OMV AG, and held

2014-413: The inverter while clipping (wasting) only a very small portion of the total energy production. The capacity of the power plant after DC-AC conversion is usually reported in W AC as opposed to W DC or Watt-peak (W p ). The nominal power of PV devices is measured under standard test conditions (STC), specified in standards such as IEC 61215, IEC 61646 and UL 1703. Specifically, the light intensity

2067-484: The largest acquisition in OMV's history. In the same year, OMV increased its share capital, meaning that more than 50% of the company's shares were in free float for the first time. Following the sale of 50% of the subsidiary company Agrolinz Melamine International GmbH to IPIC in 2005, the Borealis group was taken over in full together with IPIC. In 2006, OMV acquired a 34% stake in a Turkish oil company Petrol Ofisi . In

2120-417: The light power that falls on a given area of a photovoltaic device (area × 1000 W/m ) defines its efficiency , the ratio of the device's electrical output to the incident energy. In the context of domestic PV installations, the kilowatt (symbol kW) is the most common unit for nominal power, for example P peak = 1 kW. Colloquial English sometimes conflates the quantity power and its unit by using

2173-881: The market. Remarkably, the total value of Deals in Play in Q3 2013 nearly tripled over 2009 to $ 46 billion, in less than four years. This categorization comes from value chain concepts, even before formal development of Value Chain Management. A company that owns and operates drilling rigs that are contracted by an operator to drill wells. Examples include Patterson UTI, Trans-ocean, Nabors, Independence Contract Drilling and Cactus. A company that has upstream as well as downstream operations. Examples include Saudi Aramco , ExxonMobil , BP , Shell , ChevronTexaco and SOCAR . A company that has either upstream or downstream operations, but not both. Examples include Anadarko Petroleum , Sunoco , Phillips 66 , ConocoPhillips and Murphy Oil . A company that provides products and/or services to

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2226-468: The non-standard label watt-peak (symbol W p ), possibly prefixed as in kilowatt-peak (kW p ), megawatt-peak (MW p ), etc. For example, a photovoltaic installation may be described as having "one kilowatt-peak of power" ("P = 1 kW p "). However, in the International System of Units (SI), the physical unit (and its symbol) should not be used to provide specific information about

2279-511: The oil and gas industry. Usually a combination of labor, equipment, and/or other support services. Examples include Schlumberger , Halliburton , Saipem and Baker Hughes . A company that specializes in the sale and distribution of equipment to the oil and gas industry. Examples include Siemens , Schneider Electric and ABB . Many major security companies take part in securing the industry. ISO 14224 defines "Upstream" in its definition section as: 3.98 upstream business category of

2332-403: The panels. This means that for some hours each day the peaks are " clipped " and the extra energy is lost. This has very little impact on the total energy generated throughout a year, but saves considerable amount of balance of system (BOS) costs. Due to under-sizing of converters, AC ratings of solar plants are generally significantly lower than DC ratings, as much as 30%. This in turn increases

2385-513: The petroleum industry involving exploration and production . MWp Nominal power (or peak power ) is the nameplate capacity of photovoltaic (PV) devices, such as solar cells , modules and systems . It is determined by measuring the electric current and voltage in a circuit , while varying the resistance under precisely defined conditions. The nominal power is important for designing an installation in order to correctly dimension its cabling and converters . Nominal power

2438-624: The photovoltaic industry, such as Solar Energy Industries Association (SEIA), the European Photovoltaic Industry Association (EPIA) or the International Energy Agency ( IEA-PVPS ). Some grid regulations may limit the AC output of a PV system to as little as 70% of its nominal DC peak power (Germany). Because of these two different metrics, international organizations need to reconvert official domestic figures from

2491-444: The production of base chemicals integrated with OMV operated refineries in Austria and Germany, the Borealis business of base chemicals and polyolefins, and the joint ventures. The Fuels & Feedstock business segment refines crude oil and other feedstocks. Its activities include Refining, Supply and Trading, Commercial and Retail. OMV owns a total refining capacity of around 500 kbbl/d, with three wholly owned refineries in Europe and

2544-554: The rated capacity is given in MW AC , a downrating of 15 percent in the conversion from DC to AC is assumed. The output of photovoltaic systems varies with the intensity of sunshine and other conditions. The more sun, the more power the PV module will generate. Losses, compared to performance in optimal conditions, will occur due to non-ideal alignment of the module in tilt and/or azimuth, higher temperature, module power mismatch (since panels in

2597-566: The remaining sales volumes. The Energy segment consists of Exploration & Production, Gas Marketing & Power, and the Low Carbon Business. Its E&P activities include exploration & appraisal, development, and production of crude oil, natural gas liquids, and natural gas. Energy operates its natural gas business across the value chain, from the wellhead to the end customer, with a fully integrated natural gas sales and logistics business. It also includes power business activities and

2650-615: The same year, the board members of OMV and Verbund, the Austrian utility group announced plans for a merger. However, this collapsed due to resistance from Austrian MPs. OMV increased its stake in Hungarian oil group MOL to 20.2% in 2007. OMV then sold its entire stake in March 2009 after MOL rejected a takeover bid in 2008 and the European Commission imposed tough restrictions for an approval of

2703-403: The wells that recover and bring the crude oil or raw natural gas to the surface. The upstream industry has traditionally experienced the highest number of Mergers, Acquisitions (M&A) and Divestitures. M&A activity for upstream oil and gas deals in 2012 totaled $ 254 billion in 679 deals. A large chunk of this M&A, 33% in 2012, was driven by the unconventional/shale boom especially in

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2756-423: Was announced the state-owned, Abu Dhabi National Oil Company (ADNOC) , has acquired a 24.9% stake in OMV from Mubadala Petroleum and Petrochemicals Holding Company. In September 2023, OMV is rolling out a comprehensive network of e-charging stations under the brand name eMotion. The implementation includes the installation of 2,000 charging points by 2030 in Austria, Romania, Slovakia and Hungary. In December 2023

2809-564: Was rejected by the Hungarian company. MOL criticised OMV's advertisement in which OMV had suggested the two had already worked together on the European market. MOL thought that to be misleading and unethical and asked OMV to remove the name MOL from those advertisements. OMV dismissed its bid after negative results of the investigation by the European competition authorities. OMV sold its entire stake to Surgutneftegas in March 2009. On 10 April 2019 OMV announced that it would drill up to ten wells off

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