21st Austria weekly - OMV (15/07/2019)

OMV: OMV, the international, integrated oil and gas company headquartered in Vienna, has made the decision to invest Euro 64 mn in the construction of an ISO C4 plant – the building phase is now imminent: construction of the new plant will begin in summer 2019 at the Burghausen Refinery, with operations planned to start in September 2020. From this point onwards, high-purity isobutene will be produced in Burghausen using a brand new technology. The idea behind the innovative method for heat integration came about through a collaboration by OMV and BASF and was jointly filed for a global patent by both companies.  "The new ISO C4 unit is a further element that highlights OMV's talent for innovation. This exceptionally efficient and innovative technology has allowed us to raise the bar yet again in the petrochemicals sector following on from our metathesis plant that has been operational since 2007. In the medium to long term, the demand for fossil fuels will change, which will also affect the refining business. That is why the strategic focus of the OMV Downstream business lies in petrochemicals. We want to achieve long-term, sustainable growth and continue to strengthen our competitive position", said Thomas Gangl, OMV Executive Board member for Refining & Petrochemical Operations.
OMV: weekly performance: -3.98%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (15/07/2019)

Christian Drastil: Wiener Börse Plausch

Wiener Börse Party #638: I wer narrisch bei Palfinger und VIG, Gratulation an Mike Lielacher und ein Bundesschätze-Wunsch

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1. OMV und Gazprom unterzeichneten eine Absichtserklärung über gemeinsame Kulturprojekte,v.l.n.r OMV Vorstandsvorsitzender und Generaldirektor Rainer Seele, Bundesministerin für Digitalisierung und Wirtschaftsstandort Elisabeth Udolf-Strobl, Minister für Energiewirtschaft der Russischen Föderation Alexander Walentinowitsch Nowak, Vorsitzender des Gazprom Management Committee Alexey Miller; Credit: OM

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