OMV, Iran, and Yemen

An interesting WSJ article on Austrian oil-and-gas company OMV AG which, after several acquisitions in recent years, is now the biggest oil-and-gas player in Central and Eastern Europe, with sales of €19 billion ($26.16 billion) last year. Clearly, OMV is not discouraged by challenging markets or threats of sanctions:

“…The company, which is drilling for oil and gas in Iran, irked the U.S. further by signing a gas deal in April valued by Iranian state media at $18 billion over several years. OMV and Iran are finalizing details of the agreement, under which OMV is expected to help develop part of Iran’s giant South Pars gas field and help build a gas-export terminal. The company is also expected to buy gas from Iran….”

In addition,

“…new oil discoveries by OMV in places including Yemen have brightened its production profile…”

This entry was posted on Wednesday, September 12th, 2007 at 11:21 am and is filed under Iran, OMV, Yemen.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.