OMV

OMV Aktiengesellschaft (VIE: OMV) is one of Austria's largest listed industrial companies, with group sales revenues of EUR 62 billion and around 22,300 employees in 2022. The company was founded as an integrated oil, gas and chemicals company, but is now transitioning to become a provider of sustainable fuels, chemicals, and materials with a focus on circular economy solutions.

OMV operates across three integrated business segments:

• Chemicals & Materials: Through its subsidiary Borealis, OMV is a leading provider of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling.

• Fuels & Feedstock: Produces and markets fuels and feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a UAE refining joint venture. OMV also operates around 1,800 filling stations across 10 European countries.

• Energy: Explores and produces oil and gas in four core regions - Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. This segment also includes low-carbon business activities and gas operations.

In line with its Strategy 2030, OMV aims to become a net-zero emissions company by 2050 at the latest. The company is reducing its oil and gas production, with plans to decrease it by 20% by 2030 and cease production for energy use entirely by 2050. OMV is investing in sustainable technologies like geothermal energy and carbon capture and storage. In January 2024, OMV divested its 50% stake in Malaysian upstream assets to TotalEnergies for USD 903 million as part of its pivot away from oil and gas. The company has also made significant natural gas discoveries in Norway and Austria in recent years to support its transition.