OMV at a Glance

OMV produces and markets oil and gas as well as chemical products and solutions in a responsible way, and develops innovative solutions with a special focus on the circular economy. In 2023, Group sales amounted to EUR 39 bn. With a year-end market capitalization of around EUR 13 bn, OMV is one of Austria’s largest listed industrial companies. The majority of its roughly 20,600 employees work at its integrated European sites.

Our Purpose and Values

OMV’s purpose, “Re-inventing essentials for sustainable living,” is a fundamental part of our strategy for becoming a leading company in sustainable fuels, chemicals, and materials. It guides the Company like a North Star toward its goal of becoming a net-zero emissions company. To ensure this purpose is fully embraced, we have designed new values and behaviors that align with our new direction. Our new OMV Group values “We care | We’re curious | We progress” were introduced in 2023 and will guide us on our path to a more sustainable future.

Our Business Segments

In Chemicals & Materials, OMV is one of the world’s leading providers of advanced and circular polyolefin solutions, with total polyolefin sales of 5.7 mn t in 2023 (2022: 5.7 mn t). It is also a European market leader in base chemicals and plastics recycling. The Company supplies services and products to customers worldwide through OMV and Borealis¹ OMV announced in July 2023 that it had decided to pursue negotiations with ADNOC on a potential cooperation regarding their polyolefins businesses. Such cooperation would include a potential combination of the Borealis and Borouge businesses as equal partners under a jointly controlled, listed platform for potential growth acquisitions to create a global polyolefins company with a material presence in key markets., and its two joint ventures: Borouge (with ADNOC, based in the UAE and Singapore) and Baystar™ (with TotalEnergies, based in the US).

In Fuels & Feedstock, OMV operates three refineries in Europe: Schwechat (Austria) and Burghausen (Germany), both of which feature integrated petrochemical production, and the Petrobrazi refinery (Romania). In addition, OMV holds a 15% share in ADNOC Refining and in ADNOC Global Trading in the UAE. OMV’s total global processing capacity amounts to around 500 kbbl/d. Fuels and other sales volumes in Europe were 16.3 mn t in 2023 (2022: 15.5 mn t) and the retail network consisted at the end of 2023 of 1,666 filling stations (2022: 1,803) in eight European countries.

In Energy, OMV explores, develops, and produces crude oil and natural gas in its three core regions of Central and Eastern Europe, the Middle East and Africa, and the North Sea. OMV is currently in the process of divesting its E&P assets in the Asia-Pacific region.² On January 31, 2024, OMV signed an agreement to divest its 50% shareholding in Malaysia’s SapuraOMV Upstream Sdn. Bhd. to TotalEnergies for an overall cash consideration of USD 903 mn. The divestment is anticipated to close around the end of the first half of 2024, and is in particular subject to regulatory approvals. The sales process for 100% of the shares in OMV New Zealand will continue separately. Its activities also include the low carbon business and the entire gas business. Daily hydrocarbon production was 364 kboe/d in 2023 (2022: 392 kboe/d), with a nearly equal share of liquids and natural gas production. In the Gas Marketing & Power business, OMV markets and trades natural gas and power in several European countries, which also includes its LNG business. It holds a 65% stake in the Central European Gas Hub (CEGH) and operates natural gas storage facilities with a capacity of around 30 TWh in Austria and Germany, and a gas-fired power plant in Romania.