OMV (64.25%), EVN (16.51%), Wien Energie (16.51%) and Energie Burgenland (2.73%), agreed to change the shareholder structure of EconGas GmbH. The Austrian company led by Rainer Seele will buy all the shares currently held by its partners. 'The main pillars are OMV´s takeover of shares held...
Проект сконцентрирует 80% импорта газа из России на одном маршруте и приведет к доминирующему положению "Газпрома" на немецком рынке, заявил еврокомиссар по энергетике Москва. 8 октября. INTERFAX.RU - Проект "Северный поток 2", возглавляемый "Газпромом", не будет удовлетворять стратегии Евросоюза на диверсификацию источников и маршрутов поставки газа, передает агентство Bloomberg выступление еврокомиссара по вопросам климата и энергетики Мигеля Ариаса Каньете в Страсбурге перед членами Европарламента. "Наоборот, если газопровод будет построен, это не только увеличит зависимость Европы от одного поставщика, но и также увеличит зависимость Европы от одного маршрута. Проект сконцентрирует 80% импорта газа из России на одном маршруте и приведет к доминирующему положению „Газпрома" на немецком рынке, увеличив его долю с 40% до 60%", - добавил заявил Каньете. "Таким образом, соответствие этого проекта энергостратегии Европы относительно безопасности поставок вызывает большие сомнения", - подчеркнул он. Каньете также отметил, что ЕК активно поддерживает усилия, направленные на то, чтобы Украина оставалась надежным путем доставки российского газа в Европу. "Газпром" совместно с европейскими компаниями в 2013 году построил газопровод по дну Балтийского моря мощностью 55 млрд кубометров газа в год. В июле текущего года "Газпром", а также E.ON, Shell, OMV Group, BASF/Wintershall Holding и ENGIE Group зарегистрировали компанию специального назначения New European Pipeline AG для строительства газопровода "Северный поток 2" аналогичной мощностью. Построить газопровод предполагается к концу 2019 года. Между тем, украинские власти неоднократно просили Еврокомиссию заблокировать "Северный поток-2". Реализация этого проекта лишит Украину ежегодных доходов в размере $2 млрд от транзита газа. "Северный поток-2" - это классический антиукраинский, антиевропейский проект. Если Россия с отдельными западными компаниями построит "Северный поток - 2", это будет значить, что Россия добьется своей цели и лишит Украины полностью услуг по транзиту природного газа в страны-члены ЕС", - заявлял премьер-министр Украины Арсений Яценюк. (http://www.interfax.ru/bu...)
Европейские компании игнорируют санкции Евросоюза в отношении России? Российские контрсанкции могут подорвать экономику ЕС
Прошел почти год с момента введения Западом секторальных экономических санкций из-за участия России в создании замороженного конфликта в восточной Украине. Европейские и американские компании прекратили финансирование российских энергетических предприятий и банков. Был наложен запрет на любые совместные проекты с российскими газовыми и нефтяными компаниями, которые включают разведку и добычу ресурсов, а также продажу технологий, используемых в этой сфере. Однако, если делать общий вывод из ряда подписанных в ходе прошедшего на прошлой неделе Санкт-Петербургского международного экономического форума протоколов о намерениях, то он будет следующим: некоторые весьма мощные игроки, представляющие страны ЕС, явно отступили от политики санкций.
Обозреватель журнала «Форбс» Кеннет Рапоза проанализировал итоги недавно завершившегося Санкт-Петербургского международного экономического форума и пришел к выводу, что некоторые крупные игроки, представляющие страны ЕС, явно отступили от политики санкций The post Европейские компании игнорируют санкции Евросоюза в отношении России? appeared first on MixedNews.
Europe’s efforts to reduce dependence on the Russian energy have been dealt a new blow after reports that the Anglo-Dutch energy behemoth Shell was teaming up with Gazprom on several projects. Shell as well as Germany’s E.ON and Austria’s OMV Group signed a memorandum with Gazprom...
Прошёл уже почти год с момента вступления в силу антироссийских санкций, направленных ЕС и США против России из-за ее участия в конфликте на Украине. Однако судя по документам, подписанным на прошлой неделе в рамках международного экономического форума, многочисленные европейские компании закрывают глаза на эти запреты The post Европейские компании игнорируют санкции Евросоюза против России? appeared first on MixedNews.
OMV Group’s latest redevelopment well drilled in Maari oil field on permit PMP 38160 offshore New Zealand’s Taranaki basin has been brought on stream at a rate of 7,800 b/d.
The Austrian integrated oil & gas company OMV Group has presented the results of the first 9 months of 2014: EUR 1,693 million. In a web conference presentation from Vienna, the company said it had managed to achieve these results despite the instability in Libya and a challenging market environment. OMV said it would continue to pursue its strategy of “profitable growth.” However, company representatives were light on specifics regarding exactly how OMV's financials would affect its plans, and tight-lipped about the management shake-up that has been reported last month by international media. Admitting he had not commented on recent, what he termed rumors, and decisions reported in the press, CEO Gerhard Roiss stated, “I see my responsibility in managing this company together with 27,000 employees and managers and to work for the benefit of our customers and stakeholders – nothing else matters.” Mr. Roiss is reportedly set to leave OMV in June 2015, about two years ahead of schedule. Meanwhile, OMV has folded its gas and power division into its refining and marketing segment. OMV CFO David Davies said that overall gas markets remained challenging for the company. The weak oil price environment, he added, had led OMV to reexamine the pace of its investment program. Addressing a question regarding how the oil price had affected investments, he commented, “What is clear is that, certainly for the next 2-3 years we will be basing our expectations and projection going forward on a more conservative oil price assumption than what we entered into this year. Our previous long-term assumption on a stable basis was $100/barrel approximately; only 4 months ago we had $115, and of course now we're in a quite different situation and we need to react accordingly.” Mr. Roiss added: “The major projects expected to bring us our production target of around 400,000 boe/day in 2016 remain broadly on track. The purpose of the review of the investment program is to reduce the level of capital spending of the next 2-3 years significantly.” He admitted that that move could lead to a delay in reaching OMV's target production. OMV also reported that in the 3rd quarter production rose to 311,000 boe/day, resulting in an increased average production of 306,000 boe/day in the first 9 months of 2014. Contributors included the Gudrun field in Norway, which is continuously ramping up, according to the company's presentation. The drilling of the Domino-2 well in the Romanian Black Sea has recently been completed, said OMV, while data is currently being evaluated. The Pelican South-1 exploration well in Romania has also commenced drilling on a new prospect. Mr. Roiss characterized the 3rd quarter 2014 figure as a “strong operating result, up by 6% on last year despite the challenging environment.” The result, he said, had mainly increased due to a strong contribution from OMV's refining business. The finalization of the Petrobrazi modernization in Romania, he explained, had contributed significantly. “Roughly, 70% of our result comes from exploration and production,” he stated. “In the 3rd quarter production increased from 275,000 barrels to 311,000 barrels of oil equivalent per day, up 13% versus Q3 2013.” Recently, he said, production had gone up to 330,000 boe/day with Libya making a solid contribution. Regarding Norway, Mr. Roiss reported that production from the Gudrun field had begun in April 2014 and is continuously ramping up. “In Norway we've already produced an average of 6,000 boe/day in October. Norway is now the 2nd biggest production country of OMV,” he explained. In exploration, he said, OMV's focus relies on the Black Sea. He offered: “The second well to test the potential for gas discovery, Domino-2 Well, was recently completed. Our experts are analyzing the data as we speak.” According to him, OMV had also begun drilling its next exploration well in the Black Sea, the Pelican South-1. As to whether OMV's Black Sea investments would be affected by the company's new policy, OMV Mr. Davies said those investments were a key strategic investment, both for the company and Petrom, and represented quite a transformational opportunity for both companies, so OMV would continue to work with its partners on pursuing that project. He stated that OMV's Gas & Power division had continued to be impacted by the challenging marketing environment. “Supply, marketing and trading improved during the 3rd quarter and the 9-month period, mainly due to the renegotiated gas supply contracts with Gazprom and Statoil.” Group investments for 2014, he reported, would be around EUR 3.9 billion as budgeted. -Drew Leifheit
Romania's Petrom will analyze the opportunity to enter this market after the year 2021 said Mariana Gheorghe, general manager of Petrom. Gheorghe explained that the natural decrease of oil and gas production in Romania of 10% per year can be compensated in three ways. “First it’s about the increase of the degree of hydrocarbons recovery. Second, it’s about new explorations, including the ones of high depth. Third, shale gas gives the possibility of the industry to compensate for the decline and even to raise production.” According to the Petrom GM, the company is not considering activities in the shale gas sector because it is employing the first two of the three methods of reduction of the decline, but is considering entering this market after 2021, when the current strategy of the group will expire. “However, after 2021 we can take into account this part of the market, which is part of the 21st century. After America’s experience, all countries, including Romania, are turning their heads in this direction,” said Gheorghe. This statement follows the statement made in May 2012 by Gergard Roiss, CEO of OMV Group, in which he said that OMV might be interested, in the medium-term, in shale gas exploration in Romania, but the main priority of the group is related to Black Sea deposits. Currently the only company that has publicly expressed interest to explore and extract shale gas in Romania is Chevron. The American company has lease agreements for three perimeters in Constanta County and for one near Barlad. Today Romania has reserves of 1.444 billion cubic meters (bcm) of shale gas, which places the country on the third place among European countries, after Poland and France, according to official data published on infogazedesist.eu, a website by the National Agency for Mineral Resources as part of an information and public debate campaign concerning shale gas. Romania's yearly gas consumption is between 13 and 14 bcm, so estimated shale gas deposits would cover the country’s consumption for the next 100 years. In the first quarter of this year, Petrom Group registered a net profit of 2.393 billion lei, 18% larger than last year, according to data published on Tuesday by the company. According to geologist Octavian Coltoi, PhD, “If Petrom is focused on conventional resources and has made investments, it is normal not to invest in such a thing before some time. At the same time, they are making profits from current perimeters by subcontracting smaller companies. In short, they invest less but still make a profit. At the same time with the research works to increase the recovery percentage, for development and promoting different types of resources, this company is gathering useful information regarding unconventional deposits. When they will officially announce their interest for shale gas (because unofficially any oil company has a database that can be used at any time for any purpose, without asking for anyone’s permission). They will have enough information that will allow them good investments, the risk of a bad investment being very low.” Silviu Molnar
A group led by OMV AG has submitted a declaration of commerciality for Bina Bawi field east of Erbil in the Kurdistan Region of Iraq to the Ministry of Natural Resources of the Kurdistan Regional Government.
One in four Germans would back anti-euro party (Reuters) EU Chiefs Seeking to Stave Off Euro Crisis Turn to Cyprus (BBG) Ryan Says His Budget Would Slow Annual Spending Growth to 3.4% (BBG) Goldman leads decline as Wall Street commodity revenues plummet (Reuters) South Korea and US begin military drills (FT) and North Korea cuts off hotline with South Korea (Reuters) Karzai Inflames U.S. Tensions (WSJ) Algorithms Get a Human Hand in Steering Web (NYT) Meeting Is Set to Choose Pope (WSJ) More U.S. Profits Parked Abroad, Saving on Taxes (WSJ) Banks rush to redraft pay deals (FT) Fugitive Fund Manager Stuffed Underwear With Cash, Fled (BBG) Post-Newtown Gun Limits Agenda Narrows in U.S. Congress (BBG) China Hints at Shift in One-Child Policy (WSJ) China to merge maritime patrol units (FT) Overnight Media Digest WSJ * A Wall Street Journal investigation into asbestos trust claims and court cases of roughly 850,000 people filed since the late 1980s found many apparent anomalies. * U.S. companies are keeping more of their profits offshore, a Wall Street Journal analysis of 60 big companies found. The moves shielded more than 40 percent of the companies' annual profits from U.S. taxes. * As Comcast Corp nears completion of its $16.7 billion buyout of General Electric Co's stake in NBCUniversal, it faces a slowdown in what has long been the engine of the business: NBCU's cable channels. * Figuring that the Federal Reserve won't be able to keep a lid on interest rates forever, large money managers such as BlackRock Inc, TCW Group Inc and Pacific Investment Management Co are getting ready for the day when rates take their first turn higher. * Two publishing industry groups, the Authors Guild and the Association of American Publishers, are objecting to Amazon.com Inc's request for ownership of new top-level domain names which include ".book," ".author" and ".read" arguing that Amazon's control over such addresses would be a threat to competition. * February's U.S. employment report was an unambiguously positive set of data, but it remains to be seen whether it signaled the start of a sustained period of healthier job growth. * Once a booming source of bank profit, Wall Street's commodity trading has been hit hard by tougher new rules and subdued markets. Revenue from trading the likes of oil, metals and soybeans dropped 16 percent last year at J.P. Morgan Chase & Co and 20 percent at Morgan Stanley, according to securities filings. * Dell Inc's proposed $24.4 billion buyout by its founder has shareholders on edge. And that anxiety is spreading to the computer maker's customers and others as well. * The technology industry will be paying close attention to Samsung Electronics Co. this week when it lifts the curtains on a new high-end smartphone at an event in New York on Thursday. A lot is riding on the new device as Samsung aims to maintain its lead and boost profits in the increasingly crowded smartphone market. * Economic indicators in the United States this week could determine whether the dollar's recent strength will prove sustainable. The greenback rose to its highest level against the yen in more than three years on Friday. FT UK's banks may have to adhere to tougher leverage ratios than their global rivals. The Parliamentary Commission on Banking Standards has called for the government's proposed new banking legislation to be toughened. European banks are racing to tweak executive pay deals by the end of the month to meet new EU bonus rules and secure shareholder backing at upcoming annual meetings. Private equity firms are highlighting huge sums of cash returned to investors even though the value of their portfolios has risen faster, boosted by trillions of assets that they are struggling to sell. Spain's growing unease with the British Airways-Iberia merger is being watched closely at a time when the financial crisis has left the country's corporate sector more vulnerable to foreign takeovers. AbbVie, the U.S. pharmaceuticals business spun off from Abbott Laboratories, has sought an injunction to block Europe's medicines regulator from releasing detailed data on its blockbuster rheumatoid arthritis drug. The head of Austrian energy group OMV has warned that the European Union must arrive at a common position on shale gas or risk deindustrialisation that would put European companies at a competitive disadvantage to Asian and U.S. rivals. Three key executives that were behind the creation and sale of London-listed Cove Energy have come together again to raise funds to explore once more for oil and gas in waters off Mozambique. A U.S. court has imposed an escalating series of fines on Turkey's biggest mobile operator Turkcell, controlled by the country's best known tycoons Mehmet Karamehmet. NYT * British lawmakers will warn in a report to be published on Monday that proposed legislation to protect Britain's financial services sector from future crises does not go far enough and may fail to stop banks from engaging in risky trading. * Howard Stringer, who fought to bring a divided and struggling Sony Corp together as the company's first foreign president, is retiring as chairman in June. * Former hedge fund manager Florian Homm, who spent five years in hiding, was arrested in Italy and faces extradition to America, where authorities have accused him of defrauding investors of at least $200 million. * CreativeLive and other online companies have tapped into an audience of customers who are motivated to hone skills that might enhance their careers, and investors are noticing the profit potential. * The Commodity Futures Trading Commission announced on Friday that its general counsel, Dan Berkovitz, would soon depart the agency. His departure follows the agency's recent legal crackdown on Wall Street. * With jobs slowly coming back, hopes are that ordinary Americans will finally feel the recovery that the nation's corporations have seen for some time. * Stefan Kaluzny, who started the buyout firm Sycamore Partners just two years ago, has made a couple of splashy purchases, including the $600 million deal for the retail chain Hot Topic. Canada THE GLOBE AND MAIL * The Parti Québécois government is bracing for a passionate debate on its proposed language policy as public hearings begin this week on a bill to reinforce the use of French in Quebec society. * The contenders trailing Philippe Couillard in the race to replace Jean Charest as Quebec Liberal leader are grasping at the Ontario party's recent example for hope their race is not over. With Couillard firmly in the lead and, according to some reports, holding the support of around half of committed delegates, his two opponents are evoking Ontario Premier Kathleen Wynne's come-from-behind victory as they try to rally their troops for next weekend's leadership vote. * As a number of transit systems move toward unstaffed trains, the Toronto Transit Commission is taking a half-step in that direction, laying the groundwork for largely hands-off operation on one of its two lines within a few years. Reports in the business section: * Mortgage brokers are pressing the federal government to make it easier for young people to buy their first homes, just as the spring sales season descends and Ottawa prepares its next budget. * Canada Finance Minister Jim Flaherty has taken his battle against a housing bubble an extraordinary step further, issuing rare praise for the country's banks for not matching Bank of Montreal's cut-rate mortgages, which the lender rolled out a week ago in an attempt to drum up new business. * One of Canada's most productive auto assembly plants is getting a C$250 million ($243 million) boost that likely solidifies about 3,000 jobs well into the 2020s. General Motors Co will invest that amount at its Cami Automotive factory in Ingersoll, Ontario, to respond more quickly to changing consumer tastes by building vehicles off more than one platform or basic underbody. NATIONAL POST * Canada Prime Minister Stephen Harper will travel to Yellowknife on Monday to mark the end of talks granting province-like powers to the Northwest Territories. Harper's office confirmed on Sunday that he will be present at the event, to be held at the territorial legislature. * Toronto Mayor Rob Ford used his radio show on Sunday to hit back at a former election rival who accused him of inappropriate touching and lewd comments, telling his listeners the allegations were "not true" and questioning whether his accuser was "playing with a full deck." * Most Canadians are in favor of restrictions on the number of qualified immigrants accepted into the country each year, a new poll suggests. FINANCIAL POST * Canada's see-sawing labor force swung back into job-creation mode in February, with a net 50,700 people finding work. Most of those new hires were aged 55 or older - continuing a trend from January. * Americans living in Canada have already found themselves in the sights of the Internal Revenue Service, but a Canadian tax expert is warning that they should pay particular attention to their use of investment vehicles such as the Tax Free Savings Account. * The recent surge in demand for air travel in Canada appears to be leaving Porter Airlines Inc behind, with traffic falling precipitously at the Toronto Island-based airline while its rivals consistently report record months of filling their planes. China CHINA SECURITIES JOURNAL -- Yang Maijun, Chairman of the Shanghai Futures Exchange, proposed to lay out legislation in the futures market to regulate and further develop the sector. -- Hong Kong, Macau and Taiwan residents living on the mainland will be allowed to open yuan-denominated A-share accounts in China from April 1, said Guo Shuqing, Chairman of China Securities Regulatory Commision. SECURITIES TIMES -- Song Liping, the general manager of Shenzhen Stock Exchange, said they would firmly promote reform and strengthen regulations on initial public offerings. CHINA DAILY -- The overhaul of the central government, which will see the railway and health ministries demoted, will cut red tape and increase efficiency. PEOPLE'S DAILY -- Chinese government will continue to support railway construction and accelerate financing and pricing reforms, although the Railway Ministry will be coordinated under the broader Ministry of Transport. Fly On The Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades ArcelorMittal (MT) upgraded to Buy from Neutral at UBSAspen Insurance (AHL) upgraded to Outperform from Neutral at Credit SuisseBanco Bilbao (BBVA) upgraded to Hold from Sell at Societe GeneraleBarnes Group (B) upgraded to Buy from Hold at KeyBancBest Buy (BBY) upgraded to Overweight from Neutral at Piper JaffrayBioDelivery Sciences (BDSI) upgraded to Overweight from Neutral at Piper JaffrayCONSOL Energy (CNX) upgraded to Outperform from Market Perform at BMO CapitalCTC Media (CTCM) upgraded to Neutral from Underperform at Credit SuisseCitigroup (C) upgraded to Buy from Neutral at UBSCloud Peak Energy (CLD) upgraded to Outperform from Market Perform at BMO CapitalMain Street (MAIN) upgraded to Outperform from Neutral at RW BairdMasco (MAS) upgraded to Outperform from Sector Perform at RBC CapitalMeritage Homes (MTH) upgraded to Strong Buy from Buy at ISI GroupNXP Semiconductors (NXPI) upgraded to Positive from Neutral at SusquehannaResolute Energy (REN) upgraded to Buy from Hold at WunderlichRovi (ROVI) upgraded to Overweight from Neutral at Piper JaffraySmithfield Foods (SFD) upgraded to Neutral from Underperform at BofA/MerrillTransDigm (TDG) upgraded to Buy from Hold at Deutsche Bank Downgrades Adobe (ADBE) downgraded to Neutral from Buy at BofA/MerrillAltera (ALTR) downgraded to Neutral from Buy at UBSCredicorp (BAP) downgraded to Market Perform from Outperform at Raymond JamesDaVita (DVA) downgraded to Neutral from Buy at SunTrustIntuit (INTU) downgraded to Neutral from Buy at BofA/MerrillManhattan Associates (MANH) downgraded to Market Perform at Raymond JamesMylan (MYL) downgraded to Hold from Buy at CanaccordNVIDIA (NVDA) downgraded to Negative from Neutral at SusquehannaPPL Corp. (PPL) downgraded to Neutral from Buy at UBSPeabody Energy (BTU) downgraded to Market Perform from Outperform at BMO CapitalWalter Energy (WLT) downgraded to Market Perform from Outperform at BMO Capital Initiations EMC (EMC) initiated with a Buy at LongbowFusion-io (FIO) initiated with a Neutral at LongbowInsmed (INSM) initiated with an Outperform at LeerinkJazz Pharmaceuticals (JAZZ) initiated with a Buy at CantorMartin Midstream Partners (MMLP) resumed with a Market Perform at Wells FargoNetApp (NTAP) initiated with a Neutral at LongbowOCZ Technology (OCZ) initiated with a Neutral at LongbowSeagate (STX) initiated with a Neutral at LongbowWestern Digital (WDC) initiated with a Neutral at Longbow HOT STOCKS BP (BP) sees subdued global growth continuing in 2013Eaton (ETN), Cummins (CMI) announced powertrain package for N.A. truck marketNielsen (NLSN) disclosed receipt of FTC request for more information in Arbitron (ARB) dealPublicis (PUBGY) acquired India-based ConvonixChyron Corp. (CHYR) to acquire Hego Group EARNINGS Companies that beat consensus earnings expectations last night and today include:Sunshine Heart (SSH), Renren (RENN) NEWSPAPERS/WEBSITES U.S. companies are making record profits, and more of the money is staying offshore, and lightly taxed. A Wall Street Journal analysis of 60 big U.S. companies found that, together, they parked a total of $166B offshore last yearOn Thursday, Samsung Electronic (SSNLF) will unveil a new high-end smartphone. A lot is riding on the new device as the company aims to maintain its lead and boost profits in the increasingly crowded smartphone market, the Wall Street Journal reportsWall Street commodity revenues fell last year to their lowest on record, as tighter regulation and limited price swings squeezed the once dominant traders of Goldman Sachs (GS), JPMorgan Chase (JPM) and Morgan Stanley (MS). All three reported double-digit percentage declines in revenues for oil, grains and copper trading in 2012, Reuters reportsIn the U.K. the Parliamentary Commission on Banking Standards said all banks should be forced to split routine retail operations from riskier investment activities if a single lender abuses new rules designed to protect taxpayers, Reuters reportsThe sudden slowdown in U.S. inflation has left Treasuries at the cheapest levels in almost two years, aiding the Fed’s efforts to tamp down long-term borrowing costs while the economy improves. Yields on 10-year notes, the benchmark measure for everything from home loans to corporate bonds, reached an 11- month high of 2.08% on March 8, Bloomberg reportsJohnson & Johnson’s (JNJ) DePuy unit, which just lost a $8.3M verdict in the first trial over its recalled metal hip implant, now faces a second jury that will consider whether the design was defective, Bloomberg reports BARRON’S TD Ameritrade (AMTD), Schwab (SCHW), E-Trade (ETFC) products positively reviewed Bed Bath & Beyond (BBY) could rise 25% over the next year, could attract private-equity investors or possibly Berkshire Hathaway (BRK.A) if founders decide to sellRailroads (CP, UNP, KSU, CSX, NSC) profiting from hauling overflow oil productionLive Nation (LYV) may have more upsideIcahn proposal could kill buyout, boost Dell's (DELL) valueGenworth Financial (GNW) undervaluedSkyworks (SWKS), Broadcom (BRCM), LSI (LSI), Cirrus (CRUS) look attractive SYNDICATE Cempra (CEMP) files $100M mixed securities shelfSpark Networks (LOV) files $100M mixed securities shelfSusquehanna (SUSQ) files automatic mixed securities shelfViaSat (VSAT) files automatic mixed securities shelf
VIENNA, Sept 13 (Reuters) - Austrian energy group OMV will hold a shareholders' meeting on Oct. 9 to elect the new head of the OIAG, Austria's investment and privatisation agency, to its supervisory board, it said in an invitation on Thursday.