Russia's Gazprom is in talks to buy Abu Dhabi's 24.9 percent stake in Austrian oil and gas firm OMV, a source familiar with the talks told Reuters on Thursday.
"Talks were held but they have yet to decide on pricing,&
Iran's Oil Minister Bijan Zanganeh said he had met on Wednesday with Austrian oil and gas group OMV and other foreign oil companies as Tehran prepares to offer oilfields, projects and its final investment contract in November.
Austrian oil and gas group OMV is producing at about 70 per cent of normal levels in Libya, the company's head of exploration and production, Jaap Huijskes, said on Wednesday.
Libya accounted for about 10 per cent of OMV's
Austrian oil and gas group OMV's production in Libya has recovered sufficiently to support its full-year output target if it continues at current levels, its chief executive said.
Gerhard Roiss said production in the war-torn
Austria's OMV said it had struck oil in Libya in the first new discovery for the company and its partners since the revolution in 2011, as it sticks by a long-term bet on the country despite recent civil strife and disruption.
Austrian oil and gas group OMV is committed to Libya despite conflict that has disrupted production and caused some oil majors to abandon projects there, its chief executive said.
Gerhard Roiss said production lost in Libya in the
The change in landscape initiated by the Arab Spring has provided several opportunities and challenges for international oil companies (IOCs) that operate in North Africa, said a senior industry expert.
Dr David Latin, senior vice presi
Austrian energy group OMV has signed its first upstream joint venture in Abu Dhabi, agreeing to drill up to three appraisal wells for sour gas and condensate together with BASF's Wintershall.
OMV said in a statement on Thursday that Ab
Austria's competition watchdog has cleared Abu Dhabi sovereign wealth fund Ipic's plan to raise its stake in energy group OMV to at least 25 per cent, the agency said on Tuesday.
Ipic had informed the Austrian Competition Authority
Austrian energy group OMV's output from Libya has reached half the level it was before the civil war halted production, chief executive Gerhard Roiss said.
"At the moment we are at 50 per cent of the pre-war level," or at around 17,000 bar