Austria’s energy group OMV continues to rely heavily on natural gas

The Commission adopted legislation on Wednesday to make investments in new gas and nuclear power plants in the European Union climate-friendly, subject to certain conditions.

Don’t worry about delivery bottlenecks

Last year, OMV produced 486,000 barrels a day (1 barrel = 159 liters). Gas made up more than half of the amount, the rest was oil. “We will continue to work on this overweight position in gas in our portfolio,” Stern said. The CEO did not share concerns that the conflict over Ukraine could lead to disruptions in Russian gas supplies.

The partially state-owned OMV announced an annual profit of 2.8 billion euros for 2021 – almost twice as high as in the previous year. Thanks to higher oil and gas prices and increased gas sales, sales more than doubled to EUR 35.56 billion. (dpa/amo)

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