Jun 2008 - OPEC

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OPEC bulletin 6/08 26 Petroleum Investment Company (IPIC), an investment arm of the Abu Dhabi government, while the balance of 50.9 per cent is owned by institutional investors around the world. Though OMV may not necessarily have the name recognition of, say, Saudi Aramco or ExxonMobil, it conducts vigorous activities abroad and its financial results are far from anaemic. Last year, the company had consolidated sales of a little more than ¤20 billion, while earnings before interest and taxes (EBIT) amounted to ¤2.18bn, an across-the-board increase of six per cent over the previous year. Considered a second-tier player, the company is, in fact, the largest stock exchange-listed industrial company in Austria with a market capitalization of ¤15bn. It employs 42,727 people worldwide and judging from the flurry of news releases over the past ten months, and from its own strategic vision for 2010, it has positioned itself as the number one oil and gas company in Central Eastern Europe. A number of well thought out acquisitions over the past few years, and several key strategic investments in several core regions bear this out. Refining and Marketing made up 81 per cent of group sales in 2007. But it is in the firm’s Exploration and Production (E&P) Division that OMV really shines. The company’s current proven reserves stand at 1.22 billion boe and daily production volume is 322,000 boe. OMV aims to increase this level to 500,000 boe/d by 2010. Headed by the dynamic Helmut Langanger, Member of the Executive Board, and Head of the E&P Division, OMV has a balanced international portfolio in 21 countries across the world. More importantly, it has deep country knowledge built up through its long-term involvement in areas of the world that other, less intrepid companies, have ignored. In fact, its presence in some of OPEC’s Member Countries goes back decades. The Islamic Republic of Iran In Iran, which has the second largest gas reserves and the third largest oil reserves in the world, OMV is involved in two main activities. The first entails an exploration licence acquired in 2001 to conduct exploratory work close to the city of Ahvaz, a major oil centre, in the southwestern province of Khuzestan, bordering Iraq and the Gulf. With 34 per cent participation, OMV is the lead operator of a consortium that includes Spain’s Repsol and Chile’s Sipetrol, each with 33 per cent. “It’s a good partnership,” said Langanger.
OMV, with a market capitalization of ¤15 billion, employs over 42,700 people worldwide in a development portfolio that is growing with each passing year. OPEC bulletin 6/08 27
Page 3 and 4: The industry’s human dimension ha
Page 5 and 6: Feature 34 ASPIRE OPEC Fund News 48
Page 7 and 8: Venezuelan Ministry of Energy & Pet
Page 9 and 10: Right (r-l): Dr Hercilio Rivas, Pre
Page 11 and 12: Esam Al Khalifa The visiting Secret
Page 13 and 14: need to deal collectively with the
Page 15 and 16: in developing their energy resource
Page 17 and 18: Human resources he global energy sy
Page 19 and 20: Key findings of the survey conducte
Page 21 and 22: tive; to do something more innovati
Page 23 and 24: CCS: Facing up to the future “Of
Page 25 and 26: The In Salah gas project in Algeria
Page 27: OPEC bulletin 6/08 25
Page 31 and 32: three pieces of the integrated proj
Page 33 and 34: From its own strategic vision for 2
Page 35 and 36: Above (l-r): Gerhard Roiss, OMV Dep
Page 37 and 38: By Steve Hughes In energy industry
Page 39 and 40: from across the region and to turn
Page 41 and 42: of an increasingly office-bound wor
Page 43 and 44: The OPEC Award for Journalism — N
Page 45 and 46: Votava/PID n Sunday, April 13, 2008
Page 47 and 48: Jose Hidalgo In his remarks, Häupl
Page 49 and 50: 1926. In going to the leader of the
Page 51 and 52: looking to establish cooperation on
Page 53 and 54: The institution honoured its pledge
Page 55 and 56: nickel prices dropped by 7.4 per ce
Page 57 and 58: d from the previous year and a 12,0
Page 59 and 60: that has been hit by slower economi
Page 61 and 62: Table A: World crude oil demand/sup
Page 63 and 64: Graph 1: Evolution of the OPEC Refe
Page 65 and 66: Table and Graph 6: Caribbean market
Page 67: OPEC offers a range of publications

Jun 2008 - OPEC

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