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OMV (formerly abbreviation for Österreichische Mineralölverwaltung Aktiengesellschaft () is an integrated company with three robust pillars: Chemicals, Fuels & Feedstock, and Energy. It supports the transition to a lower-carbon economy and has the ambition to become a net zero emissions business by 2050 for Scope 1, 2, and 3 emissions. The majority of its nearly 24,000 employees work at its integrated European sites. In 2024, the company is listed on the Vienna Stock Exchange. In the 2021 Forbes Global 2000, OMV Group was ranked as the 413th largest public company in the world.
Four years later, in 1960, the company opened the Schwechat refinery near Vienna, Schwechat Refinery: 60 years old and still not even close to retirement in 1968 the first natural gas supply contract with the former USSR were entered.
The International Petroleum Investment Company (IPIC) of Abu Dhabi acquired an initial 19.6% interest in the group at the end of 1994. The following year, the group changed its name from "ÖMV" to "OMV" because the umlaut on the "Ö" is not commonly used in many languages.
In the early 2000s, OMV expanded into Eastern Europe, by acquiring around 10% of Hungarian oil company, MOL Group and in 2003 it acquired the upstream division of Germany's Preussag Energie, expanding its filling station networks.
In 2004, OMV became the market leader in Central Europe and Eastern Europe following the acquisition of 51% of Romanian oil and gas group Petrom which then constituted the largest acquisition in OMV's history. In the same year, OMV increased its share capital, meaning that more than 50% of the company's shares were in free float for the first time. Following the sale of 50% of the subsidiary company Agrolinz Melamine International GmbH to IPIC in 2005, the Borealis AG group was taken over in full together with IPIC.
In 2006, OMV acquired a 34% stake in a Turkish oil company Petrol Ofisi. In the same year, the board members of OMV and Verbund, the Austrian utility group announced plans for a merger. However, this collapsed due to resistance from Austrian MPs.
OMV increased its stake in Hungarian oil group MOL to 20.2% in 2007. OMV then sold its entire stake in March 2009 after MOL rejected a takeover bid in 2008 and the European Commission imposed tough restrictions for an approval of the deal. In late 2011, OMV acquired the stake held by Dogan Holding in Petrol Ofisi, which further increased its stake in the company to 95.75%.
In 2012, the Domino-1 well in the Romanian Black Sea exploration license Neptun was the most significant discovery in that year, which has the potential to be OMV's most important gas discovery ever. OMV Press Release ExxonMobil / OMV Petrom: Deepwater gas discovery offshore Romania. Retrieved on April 7, 2017.
On 31 October 2013, the acquisition deal with Norwegian Statoil containing participations in oil and gas fields and in development projects in Norway and the UK was closed. With US$2.65 billion, this then was the largest transaction in OMV's history. OMV Press Release OMV closes acquisition deal with Statoil. Retrieved on April 7, 2017.
A divestment agreement for the 45% stake in Bayernoil was signed in December 2013. The sale was closed in June 2014. OMV Press Release OMV: Downstream restructuring on track. Retrieved on April 7, 2017.
In 2015 OMV increased its interest in Petrol Ofisi to 100%. OMV Annual Report 2015 Accounting principles and policies, p. 66. Retrieved 7 April 2017. Two years later, in 2017, OMV sold Petrol Ofisi to Vitol Group OMV Press Release OMV divests wholly owned subsidiary OMV Petrol Ofisi to Vitol Group. Retrieved on April 7, 2017.
In 2017, OMV – together with ENGIE, Shell, Uniper and Wintershall – signed financing agreements with Nord Stream 2 AG to build the 1,200 km Nord Stream 2 gas pipeline from Russia to Germany. In September 2018, OMV became the only Austrian company listed on the Dow Jones Sustainability Index. OMV included in the Dow Jones Sustainability Index. Retrieved on Jan. 08, 2021
In January 2019, OMV took a stake of 50% in the joint venture "SapuraOMV Upstream Sdn. Bhd.", a leading oil and gas company in Malaysia. OMV and Sapura Energy close agreement to form new partnership. Retrieved on Jan. 08, 2021
In January 2019, OMV signed an agreement to acquire a 15% stake in ADNOC Refining (Abu Dhabi National Oil Company) in Abu Dhabi. OMV establishes major Downstream Oil position in Abu Dhabi. Retrieved on Jan. 08, 2021
In March 2020, OMV increased its holding in Borealis to 75%, thereby transforming OMV from a pure oil and gas company into a gas, oil and chemicals group. At the end of 2020, OMV started up Austria's then largest photovoltaic plant with 11.4 MWp in Schönkirchen (Lower Austria). OMV signs agreement to increase its shareholding in Borealis to 75%. Retrieved on Jan. 08, 2021 Photovoltaic plant in Schönkirchen (Lower Austria) | Retrieved on May. 13, 2021
On 31 May 2021, OMV and Verbund close purchase of 51% interest in Gas Connect Austria. Verbund purchase of 51% interest in Gas Connect Austria Retrieved on May. 13, 2021 On 1 June OMV appoints Alfred Stern as new CEO. Alfred Stern as new CEO Retrieved on May. 13, 2021 On 8 June OMV and MOL Group reach agreement for MOL Group to acquire OMV Slovenia. MOL Group reach agreement to acquire OMV Slovenia | Retrieved on May. 13, 2021
On 5 March 2022, OMV announced that it would no longer pursue investment in Russia.
In December 2022, it was announced the state-owned, Abu Dhabi National Oil Company (ADNOC), has acquired a 24.9% stake in OMV from Mubadala Petroleum and Petrochemicals Holding Company.
In September 2023, OMV is rolling out a comprehensive network of e-charging stations under the brand name eMotion. The implementation includes the installation of 2,000 charging points by 2030 in Austria, Romania, Slovakia and Hungary. eMotion launch | Retrieved on April. 09, 2025
In November 2023, Wien Energie and OMV established a joint venture for deep geothermal energy. In a joint venture called “deeep”, the two companies are working closely together to make deep geothermal energy a reality in the greater Vienna area. They want to develop deep geothermal plants with output of up to 200 megawatts, thereby generating climate-neutral district heating for the equivalent of up to 200,000 Viennese households. The partners are also planning to implement up to seven deep geothermal plants in Vienna as part of drilling programs. Project deep | Retrieved on April. 06, 2025
In December 2023 a Russian presidential decree gave the government the power to confiscate and forcibly sell off assets belonging to European energy firms including shares in the Yuzhno-Russkoye oil and gas field, currently owned by OMV and Wintershall Dea.
In December 2024, OMV AG announced the closing of a transaction with TotalEnergies, for the sale of its 50 percent stake in the Malaysian SapuraOMV Upstream Sdn Bhd. The overall cash consideration is USD 957 million. SapuraOMV Divestment| Retrieved on April. 06, 2025
In December 2024, OMV announced the termination of its long-term natural gas supply contract with Gazprom Export in reference to multiple fundamental breaches of contractual obligations by Gazprom Export. Gazprom Contract Termination| Retrieved on April. 06, 2025
In March 2025, OMV and ADNOC have agreed on the key commercial terms for a combination of their polyolefins businesses. The agreement foresees a combination of Borealis and Borouge under a new, jointly controlled joint venture company. The new company shall be a joint platform for OMV and ADNOC for potential growth acquisitions in the polyolefins sector and it is envisaged to be named Borouge Group International. OMV and ADNOC have also agreed on the key terms and conditions for a purchase by the joint venture company of all shares in NOVA Chemicals for a purchase price of USD 9.377 bn from Nova Chemicals Holding GmbH, a wholly owned subsidiary of Mubadala Investment Company PJSC, pursuant to a purchase agreement agreed between Mubadala and ADNOC which shall be entered into by ADNOC as purchaser and, subject to certain regulatory and other conditions being met, be novated to a subsidiary of the joint venture company, resulting in the subsequent acquisition of NOVA Chemicals by the joint venture company. OMV and ADNOC shall have equal shareholdings and joint control in such joint venture company. It is envisaged that OMV makes a capital injection into the joint venture company in the amount of EUR 1.608 bn (determined as of the reference date 1 January 2025), to be reduced by dividends paid out until completion of the transaction (currently expected for 2026). Borealis Borouge| Retrieved on April. 06, 2025
In June 2010, the Swedish public prosecutor for international crimes opened a criminal investigation into links between Sweden and the reported crimes. In 2016, Lundin Petroleum's Chairman Ian Lundin and CEO Alex Schneiter (as operator) were informed that they were the suspects of the investigation. Sweden's Government gave the green light for the Public Prosecutor in October 2018 to indict the two top executives On 1 November 2018, the Swedish Prosecution Authority notified Lundin Petroleum AB that the company may be liable to a corporate fine and forfeiture of economic benefits of SEK 3,285 (app. €315 million) for involvement in war crimes and crimes against humanity. Consequently, the company itself would also be charged, albeit indirectly, and will be legally represented in court. On 15 November 2018 the suspects were served with the draft charges and the case files. They would be indicted for aiding and abetting international crimes and may face life imprisonment if found guilty. The trial is likely to open early in 2022 and may take two years.
The Swedish war crimes investigation raises the issue of access to remedy and reparation for victims of human rights violations linked with business activities. In May 2016, representatives of communities in Block 5A claimed their right to remedy and reparation and called upon OMV, Lundin Petroleum and Petronas and their shareholders to pay off their debt to them. A conviction in Sweden may provide some level of remedy and reparation for the few victims of human rights violations who will testify in court, but not for the other 200,000 victims who will not be represented in court. The Swedish court cannot impose obligations upon OMV.
On 23 May 2019, the T.M.C. Asser Institute for International Law in The Hague organized the conference 'Towards criminal liability of corporations for human rights violations: The Lundin case in Sweden'.
OMV endorses the UN Guiding Principles on Business and Human Rights, acknowledging the duty of business enterprises to contribute to effective remedy of adverse impact that it has caused or contributed to. The company has never publicly showed an interest in the adverse impacts of its activities on the communities in its concession area. According to the Dutch peace organisation PAX, the companies OMV, Lundin Petroleum, Petronas, as well as their shareholders are disregarding the human rights standards that they claim to respect, notably the OECD Guidelines and UN Guiding Principles, because they, A. never conducted an appropriate due diligence for their Sudanese operations; B. made no effort to know their human rights impacts; and C. do not show how they address alleged adverse human rights impacts.
OMV (Sudan) Exploration GmbH was a wholly owned subsidiary of OMV AG, and held a 26.1% share in the a license as part of the consortium that appointed Lundin as operator to explore and develop oil deposits in Block 5A. It sold its Sudanese assets in 2004 with a net profit of $55 million As the operator of the consortium, Lundin Petroleum was responsible for day-to-day management but its managers stood under the supervision of the Operating Committee, that exercised "overall direction and control of all matters pertaining to the Joint Operations and the Joint Property". OMV was permanently represented in the Operating Committee and has never publicly distanced itself from any of its decisions.Joint Operating Agreement between IPC Sudan Limited and Petronas Carigali Overseasn Sdn Bhd and OMV (SUDAN) Exploration GmbH and Sudapet Ltd. SUDAN BLOCK 5A, 7 April 1999.
Between 2001 and 2003, OMV met repeatedly with European human rights advocates led by Sudan Platform Austria, but the company took no effective measures to prevent involvement in human rights violations or undo the adverse impact of Lundin's operations. On 6 April 2001, OMV wrote to Human Rights Watch: "We have reached the conclusion that, despite problems, the influx of oil revenues could improve the social and humanitarian conditions of the Sudanese. Oil exploration activities also represent immediate benefits to the local population, in terms of employment, infrastructure developments and humanitarian assistance... Our role is to constantly monitor the situation on the ground and to turn our perception of business ethics into reality by responsible action. In 2002, OMV nevertheless commissioned an independent report on the human rights situation in Block 5A, that has not been made public.Louis Charbonneau, "OMV studying human rights situation in Sudan," Reuters, Vienna, July 11, 2002.
While Block 5A was operated by Lundin, OMV was a participant in the consortium, the suspicions against the consortium's top managers therefore also concern OMV. The Austrian State's owns 31% of OMV's shares. According to the UN Guiding Principles, which is endorsed by Austria, an abuse of human rights by a business enterprise that is wholly or partially controlled by a State, may entail a violation of that State's own international law obligations.UN Guiding Principles on Business and Human Rights, p. 7.
The privatisation allegedly produced a market monopoly. Critics say that OMV can use the resources Petrom owns until their exhaustion. Also fixing of tax for gas and oil exploration at 3 to 13.5 percent from the final delivery price for 10 years was criticised. Some critics claimed, that the price €1.5 billion was too low.
On 13 December 2022, OMV Petrom was convicted by the Couter of Justice from Gaiesti, Romania of Involuntary manslaughter case. The Local Court Gaiesti ruled its decision in the file where OMV Petrom SA was sent to trial for involuntary manslaughter. The accusation is referring to an incident which occurred in Cobia in 2016 and resulted in the death of a child. OMV Petrom was found guilty and was convicted to a punishment of a criminal fine amounting to RON 28,000. On the civil side, the court assessed the degree of fault of OMV Petrom SA at 50% and the company was obliged to pay moral damages in total amount of EUR 135,000 to the victim's family and material damages and other expenses in total amount of RON 22,000. The court ordered the complementary measure consisting in the one-year suspension of the activity of oil exploitation wells within the radius of Dâmboviţa county which, at the date when the decision becomes final, do not have a completely closed and locked perimeter or which do no have a well cellar grate installed. The court also ordered the publication of the decision of conviction, in extract. .
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