Following the reorganization of the OMV Group, starting with Q1/21 OMV will change its reporting structure. The business segments will be reported as follows: Exploration & Production, Refining & Marketing, and Chemicals & Materials.

Market environment

For 2021, OMV expects the average Brent crude oil price to be in the range between  50/ and USD 55/bbl (2020: USD 42/bbl). In 2021, the average realized gas price is anticipated to be higher than  10/ (2020: EUR 8.9/MWh).


In 2021, organic is projected to come in at around EUR 2.7 bn, including non-cash effective CAPEX related to leases of around EUR 0.2 bn.

Exploration & Production

OMV expects total production to be at around 480  in 2021 (2020: 463 kboe/d), depending on the security situation in Libya and production cuts imposed by governments.

Organic CAPEX for Exploration & Production is anticipated to come in at EUR 1.1 bn in 2021.

In 2021, Exploration and Appraisal (E&A) expenditure is expected to be at around EUR 230 mn (2020:  227 ).

Refining & Marketing

The OMV refining indicator margin is expected above the previous year’s level (2020: USD 2.4/bbl).

Total refined product sales in 2021 are projected to be higher compared to 2020 (2020: 17.8 mn ). In OMV’s markets, retail margins are forecast to be lower than in 2020 and commercial margins are predicted to be higher than the prior-year level.

The utilization rate of the European refineries is expected to remain at the prior-year level (2020: 86%). In 2021, there is no major turnaround planned for our refineries in Europe.

Natural gas sales volumes in 2021 are projected to be above those in 2020 (2020: 164 ).

Organic CAPEX in Refining & Marketing and Corporate are forecast at around EUR 0.7 bn.

Chemicals & Materials

The European ethylene indicator margin is expected to be at the prior year’s level (2020: EUR 435/t). The European propylene indicator margin is projected to be at the prior year’s level as well (2020: EUR 364/t).

The polyethylene sales volume of Borealis AG in 2021 is projected to be slightly above the prior-year level (2020: 1.76 mn t). The polypropylene sales volume of Borealis AG is expected to be in line with the prior-year level (2020: 2.12 mn t).

The European polyethylene indicator margin in 2021 is forecast to be above the previous year’s level (2020: EUR 350/t). The European polypropylene indicator margin is expected to be above the previous year’s level. (2020: EUR 413/).

Organic CAPEX related to Chemicals & Materials amount to around EUR 0.9 bn.

For information about the longer-term outlook, see Strategy.

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