On the one hand, the high oil and gas prices help to bring in high profits. On the other hand, heavy write-downs for the Russian oil field Yuzhno-Russkoye (last one-fifth of OMV production) and for the loan for the Nord Stream 2 gas pipeline, which has not been put into operation, each amounting to one billion euros.
The listed group presented its quarterly figures on Friday: Revenues rose by 146 percent to 15.8 billion euros. At EUR 546 million, the profit for the period attributable to shareholders was therefore below the result for the first quarter of 2021 (654). Before special effects, the operating result has tripled this year to 2.62 billion euros.
- ZIB 1: ORF correspondent Raffaela Schaidreiter reports from Brussels on the uncertainty in the EU about further gas deliveries from Russia and the payment terms for them, after Poland and Bulgaria have already turned off the gas tap.
In March, the gas storage facilities in Austria began to be refilled. You are now 26 percent full. OMV is currently very concerned with Russia’s demand to pay for its gas in rubles from May. So far you have paid in euros. According to OMV boss Alfred Stern, they are working on “working out solutions that conform to sanctions”. According to Stern, reports that OMV wants to open a ruble account with Gazprombank in Switzerland are false. “I have no knowledge of this ruble account in Switzerland.” Local business accounts in Russia are in rubles, but they are not used for gas purchases.
In the medium term, they also want to bring more liquid gas (LNG) to Europe via Rotterdam. “Of course, that all depends on having pipeline capacities,” says Stern.
For this year, the energy company expects a much higher average gas price than previously priced in: 45 euros per megawatt hour (MWh). So far, a gas price of 25 euros per MWh was expected for this year, in 2021 it was 16.5 euros.
Romania plays a central role in Stern’s strategy to become less dependent on Russian gas. There is movement in legal changes for offshore oil and gas production in the Black Sea. If the new law comes into effect, production will start four years later. This gas is mainly used in south-eastern Europe. (uru)
Source: Nachrichten
