Events for October
M T W T F S S
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2
Add your event FREE

Today


Videos


Polls


Cosmo and Nanu - Hey Cool


Cosmo and Nanu

OMV_head_Gerhard_Roiss_has_appealed_to_political_leaders_to_take_a_stand_for_gas_as_a_key_future_source_of_energy.

OMV demands EU gas commitment

The head of Austria’s leading oil and gas company has appealed to political leaders to take a stand for gas as a key future source of energy.

Gerhard Roiss, who has headed OMV AG since 2011, told the Kurier newspaper that the European Union (EU) should make clear whether it supported the search for and production of gas. "It has not issued a clear statement in this regard yet," Roiss criticised.

Roiss – whose company has almost 30,000 employees – described gas as the "cleanest among all fossil energy sources." Speaking to the Kurier, he stressed that gas would be available for several hundreds of years in the whole world.

Roiss said OMV’s key mission in the coming winters would be to ensure the full provision with gas in Austria. He pointed out that Russia reduced its distribution of gas to Western Europe by around 30 per cent in the past winter period.

The OMV chief – who acted as vice chairman of the Viennese company for several years before taking over the agendas of long-time CEO Wolfgang Ruttenstorfer in April 2011 – appealed to the EU to make clear whether it backed shale gas search initiatives in Europe.

Roiss said that the European economy’s competitiveness might wane in the coming years due to the USA’s increasing shale gas production. "The United States started developing the potential of shale gas resources 10 years ago. The price for gas has halved compared to Europe to this day. These developments will of course affect European industry," Roiss said.

The OMV chief – who claimed that the United States of America could become a gas-exporting nation – warned from putting an excessive focus on renewable energy sources. Roiss suggested to create a "bouquet of flowers" of all available energy resources and technologies to ensure full electricity and heating supply in the foreseeable future.

OMV has been listed on the Vienna Stock Exchange (WBAG) since 1987. One share of the firm – in which Austria holds a stake of 31.5 per cent – was worth 27 Euros at midday today (Tues). OMV had a turnover of 34 billion Euros last year. This was an increase of 34 per cent compared to the previous year. This development suggests that the enterprise managed to compensate a significant temporary decrease of oil production in Libya and Yemen due to the countries’ uprising.

OMV is one of Austria’s most powerful brands. It is the main shareholder of Romanian energy sector giant Petrom. It also owns a majority interest in Turkish petrol station management company Petrol Ofisi. OMV will invest 2.4 billion Euros into various projects in the coming 10 years altogether, according to Roiss. The company chairman also said he was confident that a new efficiency programme would help save 700 million Euros within the coming two years.

Vienna Times





Related articles: EU

  1. EC warns debt-ridden Austria

    » General News 2012-05-31

    Austria has been criticised for its high public debts.

  2. AUA under pressure as pilots quit

    » Business 2012-05-30

    The number of pilots and stewardesses leaving Austrian Airlines (AUA) because of the upcoming pay cuts is on the rise.

  3. Austrian skiers create overnight stay record

    » Business 2012-05-29

    The number of winter season overnight stays by Austrians has reached a new record.

  4. Pecik defends TA engagement

    » Business 2012-05-24

    Telekom Austria (TA) investor Ronny Pecik has declared himself a team player.

  5. FW turnover takes off

    » Business 2012-05-24

    Austria’s biggest airport has managed to increase its profit.

  6. Küng tackles Schüller group

    » General News 2012-05-24

    Another top-tier representative of the Austrian Church has warned the Preachers’ Initiative from consequences.

  7. AUA rules out Whitsun travel chaos

    » Business 2012-05-23

    The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

  8. Hollande's growth appeal 'nonsense', says Fekter

    » General News 2012-05-22

    Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has launched an attack on the new French president.

  9. Schönborn warns disobedient priests

    » General News 2012-05-18

    Viennese Archbishop Christoph Cardinal Schönborn is upping the pressure on Helmut Schüller’s Preachers’ Initiative.

  10. Austrians concerned about EU unemployment

    » Business 2012-05-18

    Joblessness is what worries Austrians the most, a poll regarding European issues shows.

Related articles: crisis

  1. EC warns debt-ridden Austria

    » General News 2012-05-31

    Austria has been criticised for its high public debts.

  2. Property prices keep climbing

    » Business 2012-05-31

    A real estate expert has expressed concerns about property prices in Austria.

  3. Graz coalition collapses

    » General News 2012-05-31

    People’s Party (ÖVP) Graz Mayor Siegfried Nagl has ended his faction’s partnership with the Greens.

  4. FPÖ attacks Wrabetz

    » General News 2012-05-30

    ORF boss Alexander Wrabetz is under fire over his latest relocation calculations.

  5. AUA under pressure as pilots quit

    » Business 2012-05-30

    The number of pilots and stewardesses leaving Austrian Airlines (AUA) because of the upcoming pay cuts is on the rise.

  6. TV tax increase ahead

    » Business 2012-05-30

    TV consumers in Austria must pay higher taxes from Friday.

  7. Pay cuts scare off AUA pilots

    » Business 2012-05-29

    Dozens of pilots have left Austrian Airlines (AUA) in the past weeks, according to the loss-making carrier’s works committee.

  8. Brauner discloses austerity course details

    » General News 2012-05-29

    Viennese Social Democratic (SPÖ) Finance Councillor Renate Brauner has revealed how the city government plans to save one billion Euros within the next five years.

  9. Austrian skiers create overnight stay record

    » Business 2012-05-29

    The number of winter season overnight stays by Austrians has reached a new record.

  10. Government's subsidisation reform suffers setback

    » General News 2012-05-29

    The government has failed to reach an agreement with the coalition concerning a reform of Austria’s party subsidisation system.

Related articles: CEE news

  1. AUA under pressure as pilots quit

    » Business 2012-05-30

    The number of pilots and stewardesses leaving Austrian Airlines (AUA) because of the upcoming pay cuts is on the rise.

  2. Pay cuts scare off AUA pilots

    » Business 2012-05-29

    Dozens of pilots have left Austrian Airlines (AUA) in the past weeks, according to the loss-making carrier’s works committee.

  3. Austrian skiers create overnight stay record

    » Business 2012-05-29

    The number of winter season overnight stays by Austrians has reached a new record.

  4. Pecik defends TA engagement

    » Business 2012-05-24

    Telekom Austria (TA) investor Ronny Pecik has declared himself a team player.

  5. FW turnover takes off

    » Business 2012-05-24

    Austria’s biggest airport has managed to increase its profit.

  6. Küng tackles Schüller group

    » General News 2012-05-24

    Another top-tier representative of the Austrian Church has warned the Preachers’ Initiative from consequences.

  7. AUA rules out Whitsun travel chaos

    » Business 2012-05-23

    The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

  8. Austrians concerned about EU unemployment

    » Business 2012-05-18

    Joblessness is what worries Austrians the most, a poll regarding European issues shows.

  9. Petrol traders plan legal action

    » Business 2012-05-17

    The domestic mineral oil industry plans to sue the government about plans to set up a tool regulating fuel prices.

  10. Sickness surge causes AUA cancellations

    » Business 2012-05-15

    Passengers are finally feeling the full impact of the emerging labour conflict at Austrian Airlines (AUA).

Related articles: business boom

  1. Austrian skiers create overnight stay record

    » Business 2012-05-29

    The number of winter season overnight stays by Austrians has reached a new record.

  2. Knoflacher emphasises pedestrian zones' economic effects

    » General News 2012-05-24

    A renowned traffic planner has stressed that shop owners are generally appreciating the introduction of pedestrian zones.

  3. FW turnover takes off

    » Business 2012-05-24

    Austria’s biggest airport has managed to increase its profit.

  4. Congress tourism boosts cities and countryside

    » Business 2012-05-17

    International conferences are becoming increasingly important to the Austrian tourism industry.

  5. Schieder wants technology offensive

    » General News 2012-05-15

    Finance Secretary Andreas Schieder has appealed on politicians and businesspeople to ensure that Europeans benefit from technologic developments.

  6. TA recovers as CEO rejects Pecik fears

    » Business 2012-05-11

    Telekom Austria (TA) is back in the black.

  7. BA almost takes €400mn profit hurdle

    » Business 2012-05-11

    Bank Austria (BA) has achieved a profit of almost 400 million Euros in the first quarter of 2012.

  8. Turmöl sales soar

    » Business 2012-05-11

    Austria’s main discount petrol station network earned more in the first three months of this year thanks to the current developments on the energy products sector.

  9. Bonuses must mean tax cuts, says ÖVP boss

    » General News 2012-05-02

    The People’s Party (ÖVP) has suggested to lower the tax pressure on companies which share their profits with employees.

  10. Strabag turnover soars thanks to EE

    » Business 2012-05-01

    Two of Austria’s leading construction companies had good and bad news for shareholders in the past few days.

Related articles: Austria & America

  1. OMV demands EU gas commitment

    » Business 2012-04-03

    The head of Austria’s leading oil and gas company has appealed to political leaders to take a stand for gas as a key future source of energy.

  2. Austrian universities flop in global study

    » General News 2012-03-16

    No Austrian university has made the new Times Higher Education Ranking.

  3. Political photography, Hamlet reloaded and Oldenburg

    » Panorama 2012-03-13

    A fascinating exhibition examining how political leaders are using the power of photography to their benefit is now on display at a Viennese museum.

  4. Tourism industry forced to reconsider strategy

    » Business 2012-03-09

    The Austrian Tourism Marketing Agency (ÖW) spends seven million Euros in Central and Eastern Europe (CEE) this year.

  5. RHI focuses on Brazil

    » Business 2012-03-07

    Vienna-based refractory material manufacturer RHI AG has managed to increase its turnover and earnings.

  6. Klimt postcards and UN assembly portraits in Vienna

    » Panorama 2012-03-01

    Exciting exhibitions are on display at two of Vienna’s most popular cultural institutions.

  7. Wienerberger among the winners again

    » Business 2012-02-22

    Wienerberger AG chiefs are optimistic about the coming months despite various economic uncertainties all over the world.

  8. Akademietheater and English Theatre entertain the crowds

    » Panorama 2012-02-21

    A new play by Roland Schimmelpfennig is now on at the Akademietheater while one of the best places for English-language stage productions in Central Europe offers "Time Stands Still".

  9. Moody's justifies warning signal

    » Business 2012-02-15

    A Moody’s analyst has dismissed claims that her team failed to consider the Austrian government’s upcoming austerity package in their latest economic outlook.

  10. Lugner bags Bond

    » Panorama 2012-02-02

    Danish model Brigitte Nielsen and "James Bond" star Sir Roger Moore will accompany an Austrian entrepreneur at this year’s Vienna Opera Ball.


Tag cloud:
source  Austria  Exchange  European  energy  shale  rsquo  billion  chairman  Kurier  production  Roiss  Petrom  appealed  United  Stock  resources  Euros  ndash  States


Latest News

 

MEP caught In Brit papers Fraud Probe Jailed
A corrupt MEP caught by a British newspaper offering to propose amendments to EU laws in exchange for 100,000 euros a year has been given a three-year-jail term.

Vienna Jihad Girls Want To Come Home
The two Austrian teenage girls who became ‘poster girls’ for the jihad in Syria are now desperate to come home after getting completely disillusioned with their new lifestyles.

Viennese Jihad Girl May Have Been Killed
Austrian police say that one of the two attractive young teenage girls who fled the country to go to Syria to fight on the side of Islamic rebels may have been killed.

Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.

Beekeeping is booming in Vienna
People living in Vienna have got a new hobby - beekeeping.

Queen of Englands favourite horses used as lawnmowers in Vienna
Horses from the famous Spanish Riding School are being used to help keep the grass down in city parks in Vienna.

Get an early start on the American Independence Day celebrations at Eton Institute
Get an early start on the American Independence Day celebrations at Eton Institute

Penguin Babies Earn Their Feathers At Zoo
These feathered friends are the latest additions to the penguin enclosure at Vienna's Schoenbrunn Zoo.

Sex On The Underground Station Filmed By Passenger
The fact that there were CCTV cameras in place or the fact that a train packed with passengers had pulled into the station didn't seem to bother this couple caught having sex in public at an underground train station in the Austrian capital Vienna.

Jobless Footballers Join Dole Rangers To Showcase Their Talent
Austria's job centres are entering the big league - by creating a football team to allow jobless footballers to showcase their talent and get work.

 


Rieders Digests


The most popular stories –
last 7 days