article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . september 2007 learn how and when to remove this template message this article may rely excessively on sources too closely associated with the subject potentially preventing the article from being verifiable and neutral . please help improve it by replacing them with more appropriate citations to reliable independent third party sources . march 2014 learn how and when to remove this template message omv ag type joint stock company traded as wbag omv industry oil and gas founded 1956 headquarters vienna austria key people ceo rainer seele products oil and gas exploration and production natural gas trading and transportation oil refining electricity generation services fuel stations revenue 22 527 mn eur 2015 number of employees 24 124 2015 website www.omv.com omv formerly sterreichische mineral lverwaltung mv is an international integrated oil and gas company headquartered in vienna . it is active in the upstream exploration and production and downstream businesses refining and marketing as well as gas and power . with group sales of eur 23 bn a global workforce of 24 124 and a market capitalisation of eur 9 bn end of 2015 omv is one of the largest listed industrial companies in austria . 1 contents 1 history 2 finance information 2.1 key figures 2015 2.2 shareholder structure 2015 2.3 shareholdings 3 business segments 3.1 upstream 3.2 downstream 4 controversies 4.1 petrom 4.2 mol 5 see also 6 references 7 external links history edit the omv head office in the hoch zwei skyscraper in vienna the history of omv began on july 3 1956 when the company then known as sterreichische mineral lverwaltungs aktiengesellschaft was officially entered into the commercial register . 2 consequently the soviet mineral oil administration sowjetische mineral lverwaltung smv a corporation formed during the soviet zone of occupation in post war austria became sterreichische mineral lverwaltungs aktiengesellschaft . four years later in 1960 the company opened the schwechat refinery near vienna in 1968 the first natural gas supply contract with the former ussr were entered . 3 at the end of 1987 15 % of omv was privatised making it the first public listing of a state owned company in austria . in 1989 omv acquired a 25 % stake in plastics group borealis . in 1990 the company opened its first filling station in vienna auhof on 26 june 1990 . 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 mv to omv because the umlaut on the 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 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 and eastern europe following the acquisition of 51 % of romanian oil and gas group petrom which constitutes 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 group was taken over in full together with ipic . in 2006 omv acquired a 34 % stake in turkish oil group 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 . omv acquired the stake held by dogan holding in petrol ofisi in late 2010 which further increased its stake in the company to 95.75 % . in 2012 the domino 1 well in the romanian black sea exploration licence neptun was the most significant discovery in that year which has the potential to be omv s most important gas discovery ever . on october 31 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 . proven and probable reserves will climb by about 320 mn boe . with 2.65 bn usd this is the largest transaction in omv s history . 4 5 a divestment agreement for the 45 % stake in bayernoil was signed in december 2013 . the sale was closed in june 2014 . 6 finance information edit key figures 2015 edit with group sales of eur 23 bn a workforce of 24 124 employees and a market capitalisation of eur 7 bn by the end of 2015 omv aktiengesellschaft is one of austria s largest listed industrial companies . 1 shareholder structure 2015 edit bib formerly iag 31.5 % ipic 24.9 % own shares 0.3 % free float 43.3 % 1 shareholdings edit the most important shareholdings of omv aktiengesellschaft are listed below with other shareholdings held by the appropriate business segments 7 borealis ag 36 % gas connect austria 100 % omv petrol ofisi 99 % omv petrom sa 51 % business segments edit upstream edit omv upstream portfolio 2015 in upstream omv focuses on three core regions 1 cee romania and austria 2 the north sea and 3 middle east and africa and selected development areas . omv had proven reserves of approximately 103 million barrels 16.4 10 6 m3 at year end and a production of 303 000 barrels per day 48 200 m3 d in 2015 . around 90 % of its production in 2016 came from eu oecd countries . the oil gas split in production is roughly 50 50 . 1 downstream edit omv downstream portfolio 2015 the downstream business segment consists of the downstream oil and the downstream gas business . downstream oil operates three refineries schwechat austria and burghausen germany both of which feature with integrated petrochemical production as well as the petrobrazi refinery romania which processes predominantly romanian crude . omv thus has an annual refining capacity of 17.8 mn t by the end of 2015 . the retail network consists of approximately 3 800 filling stations in 11 countries with a strong brand portfolio . together with a high quality non oil retail business viva and an efficient commercial business omv has a leading position in its markets . 1 omv s downstream gas supply portfolio consists of equity gas and is complemented by contracted volumes . total natural gas sales volumes amounted to 110 twh in 2015 . omv operates a gas pipeline network in austria and owns gas storage facilities with a capacity of 2.7 bcm 30 twh . the central european gas hub cegh is established as an important gas trading platform on the gas routes from east to west and also operates a gas exchange . the gas distribution node in baumgarten is central europe s largest entry point for gas from russia . omv also operates two gas fired power plants one in romania and one turkey . 1 controversies edit petrom edit the acquisition of 51 % stake in petrom was considered controversial as the privatisation contract was not been made public and it consists of several disputed clauses . 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 . mol edit in june 2007 omv made an unsolicited bid to take over mol which was rejected by the hungarian company . mol criticised omv s advertisement in which omv had suggested the two had already worked together on the european market . mol thought that to be misleading and unethical and asked omv to remove the name mol from those advertisements . omv dismissed its bid after negative results of the investigation by the european competition authorities . 8 9 omv sold its entire stake to surgutneftegas in march 2009 . 10 see also edit vienna portal energy portal companies portal list of petroleum companies omv petrom petrol ofisi references edit a b c d e f omv annual report 2015 60 years and still going strong omv s moving history retrieved on july 4 2016 . omv history . omv . retrieved 31 march 2014 . omv press release . omv agreed on a major asset acquisition in norway and the united kingdom uk with statoil . retrieved on march 27 2014 . omv press release . omv closes acquisition deal with statoil . retrieved on march 27 2014 . omv press release . omv closes the sale of bayernoil . retrieved on april 13 2015 . omv group presentation . retrieved on july 6 2015 . european commission closes door on omv mol merger plan . realdeal.hu . 7 august 2008 . retrieved 7 december 2008 . omv gets eu objections statement over mol takeover bid . forbes . 24 june 2008 . archived from the original on 24 may 2011 . retrieved 6 december 2008 . omv sells mol stake . oilvoice . 30 march 2009 . retrieved 30 march 2009 . external links edit official website bib omv petrom omv petrol ofisi borealis gas connect austria central european gas hub v t e atx companies of austria andritz at & s buwog ca immo conwert immobilien invest erste group bank immofinanz lenzing sterreichische post omv raiffeisen international rhi schoeller bleckmann oilfield equipment telekom austria uniqa verbund voestalpine wiener st dtische wienerberger zumtobel v t e petroleum industry petroleum primary energy benchmarks argus sour bonny light brent dubai indonesian isthmus 34 light japan cocktail opec reference basket tapis urals western canadian select west texas intermediate data natural gas consumption production reserves imports exports price petroleum consumption production reserves imports exports price of gasoline and diesel exploration core sampling geophysics integrated asset modelling petroleum engineering reservoir simulation seismic to simulation petroleum geology petrophysics reflection seismology seismic inversion seismic source drilling blowout completion squeeze job differential sticking directional drilling geosteering drilling engineering drilling fluid invasion drill stem test lost circulation measurement tracers underbalanced drilling well logging production petroleum fiscal regime concessions production sharing agreements artificial lift pumpjack submersible pump esp gas lift downstream enhanced oil recovery eor steam injection gas reinjection midstream petroleum product pipeline transport refining upstream water injection well intervention xt history 1967 oil embargo 1973 oil crisis 1979 energy crisis 1980s oil glut 1990 oil price shock 2000s energy crisis 2010s oil glut founders history of the petroleum industry nationalization opec seven sisters standard oil oil market timelines provinces and fields list of natural gas fields list of oil fields east midlands oil province east texas gulf of mexico niger delta north sea persian gulf prudhoe bay oil field russia venezuela western canadian sedimentary basin other topics acronyms peak oil mitigation timing people petrocurrency petrodollar recycling shale gas swing producer unconventional oil heavy crude oil sands oil shale companies and organisations major petroleum companies supermajors bp chevron conocophillips exxonmobil royal dutch shell total national oil companies adnoc uae cnooc china cnpc china ecopetrol colombia gazprom russia iraq national oil company indian oil corporation kuwait petroleum corporation lotos poland nigerian national petroleum corporation nioc iran nisoc iran ogdcl pakistan ongc india pdvsa venezuela pkn orlen poland pemex mexico pertamina indonesia petrobras brazil petrochina