|Bid||57.04 x 24600|
|Ask||49.49 x 50900|
|Day's Range||52.64 - 53.50|
|52 Week Range||37.27 - 55.18|
|Beta (3Y Monthly)||1.10|
|PE Ratio (TTM)||9.02|
|Earnings Date||Feb 6, 2020|
|Forward Dividend & Yield||1.75 (3.32%)|
|1y Target Est||N/A|
(Bloomberg) -- Tunisia’s biggest energy project -- a long-delayed, $1.2 billion joint venture with Vienna-based OMV AG -- will start producing natural gas by the end of the year, the country’s industry minister said.Output from the Nawara gas field will enable Tunisia to slash imports of the fuel by 30% and will contribute a full percentage point to the nation’s economic growth rate, Slim Feriani, minister of industry and small and medium enterprises, said in an interview in Tunis. The field lies in southern Tataouine province, which provided a backdrop for scenes in the movie “Star Wars.” The project represents a potential economic and financial watershed for the North African country, which currently must import much of its energy. Tunisia, cradle of the so-called Arab Spring uprisings against authoritarian rule, is struggling to revive its economy and push ahead with an International Monetary Fund-backed program that calls for cost-cutting measures. The government had planned for Nawara to start up in 2016, but technical and social issues caused delays.With an estimated daily production capacity of 2.7 million cubic meters, the Nawara field will boost Tunisia’s gas output by 50% starting next year, Feriani said. It will produce enough fuel for Tunisia to export by pipeline to the Mediterranean coast, enabling the country to narrow its trade deficit by 7%, he said. OMV and Tunisia’s state-run Entreprise Tunisienne D’Activites Petrolieres, known as ETAP, each hold a 50% stake in the Nawara joint venture. Tunisia has no choice but to strengthen its energy security and reduce its need for imported fuel, Feriani said.To contact the reporter on this story: Jihen Laghmari in Cairo at email@example.comTo contact the editors responsible for this story: Nayla Razzouk at firstname.lastname@example.org, Bruce Stanley, Helen RobertsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tunisia's biggest energy project -- a long-delayed, $1.2B joint venture with Vienna-based OMV AG -- will start producing natural gas by the end of the year.
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A joint venture between Malaysia's Sapura Energy and Austrian energy group OMV will achieve first production at an East Malaysian gas field in the fourth quarter of the year, the business said on Friday. SapuraOMV, the joint venture, holds a 40 percent stake in the SK408 block, while a unit of Malaysian state energy company Petronas and a subsidiary of Shell hold 30 percent each. Peak production from the block will be achieved by 2023, SapuraOMV's chief executive, Muhammad Zamri Jusof, told reporters.
North Sea oil and gas producer Siccar Point is wooing potential buyers of its assets with just under 600 million barrels of oil equivalent (boe) of discovered resources and a $2 billion tax incentive in Britain, a sale document showed. Siccar Point, headed by a former Centrica executive and backed by private equity firm Blue Water Energy and Blackstone, sees its output reaching about 80,000 boe per day (boed) by about 2027, the sale document showed. Siccar Point closed the acquisition of OMV's British North Sea portfolio for $870 million in 2017.
The Nord Stream 2 natural gas pipeline project's operator said on Thursday it was assessing a U.S. bill passed by a Senate panel that proposes to impose sanctions on it, but said all parties involved remained committed to finish the route. A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the pipeline from Russia to Germany that the Trump administration says would strengthen Moscow's economic grip on Europe. Nord Stream 2 and another Russian gas export project, TurkStream, are designed to bypass Ukraine, Moscow's key gas export route to Europe.
The European Commission defended on Friday a new European Union natural gas law, which has been challenged by the Russian-led Nord Stream 2 pipeline, saying it is in line with the bloc's agreements abroad. "The EU now has clear rules that apply to all pipelines used to import gas into the European market," a Commission spokeswoman said. "The Commission considers that directive 2019/692 is fully compatible with the EU's international obligations," the spokeswoman said.
A Russian-led project to lay a new gas pipeline to Europe is taking the European Union to court to challenge new rules it says endanger its business model, opening a new front in a fight that has divided EU nations. Nord Stream 2 said on Friday that it had asked the Court of Justice of the European Union to annul an EU gas directive amendment enforcing measures including a requirement for pipelines not be owned directly by gas suppliers and for at least 10 percent of capacity be made available to third parties. The pipeline will be both owned and operated by Russian gas export monopoly Gazprom, though 50% of the funding is provided by Germany's Uniper and BASF's Wintershall unit, as well as Anglo-Dutch oil major Shell , Austria's OMV and France's Engie.
In an interview with a consortium of European newspapers, including Germany's Sueddeutsche Zeitung, Ursula von der Leyen said the European Union would first wait for a new British prime minister to be chosen and then seek talks. "We don't want a hard Brexit.
European Union member states should brace for U.S. tariffs on several fronts in the months ahead, a senior German official warned late on Tuesday, just hours before Washington launched a probe of a planned French digital tax that could trigger future tariffs. Peter Beyer, Germany's transatlantic coordinator and member of parliament, said while there was continued U.S. interest in dialogue with Europe, the Trump administration nonetheless appeared poised to impose tariffs over disputes about aircraft subsidies, the Nordstream 2 gas pipeline and European car imports.
After years of largely banking on low-cost Russia for growth, OMV is shifting attention towards the Middle East as its chemist chief executive chases his vision of making the Austrian oil and gas group a major supplier of plastics. OMV boss Rainer Seele has spent more than 4 billion euros ($4.5 billion) - 40% of the group's M&A budget until 2025 - for oil and gas concessions in the region, a 15% stake in Abu Dhabi National Oil Co's (ADNOC) refining business and a to-be-formed trading joint venture with ADNOC and Italy's Eni.
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U.S. Secretary of State Mike Pompeo attacked long-standing ally Britain over its attitude towards China and Huawei on Wednesday, saying it could impede Washington's sharing of intelligence with London. The United States has told allies not to use Huawei's technology to build new 5G networks because of fears it could be a vehicle for Chinese spying, an accusation the firm has denied, but Britain has indicated it would allow it a restricted role. Pompeo questioned Prime Minister Theresa May's government attitude towards Beijing and goaded London by saying that the late former British leader Margaret Thatcher, who was known as the Iron Lady, would have taken a firmer line with China.
A look at the shareholders of OMV Aktiengesellschaft (VIE:OMV) can tell us which group is most powerful. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies...
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Malaysia's largest oil and gas services company Sapura Energy on Monday reported a profit for the fourth quarter on gains from disposal of a subsidiary stake, after five consecutive quarters of losses. Sapura's declared net profits of 500.4 million ringgit ($123.01 million) for the quarter ended January, it said in a stock exchange filing on Monday, versus a net loss of 2.29 billion ringgit in the same period last year. Sapura said in a statement that new contract wins in 2019 had lifted its orderbook to its highest in two years, and hopes to aggressively pursue new opportunities in the Middle East, Africa, Asia Pacific, Europe and the Americas.
Murphy Oil Corp is exiting Malaysia with a $2.13 billion sale of its oil and gas assets there to Thailand's PTTEP and said it will use the proceeds to pay down debt, buy back shares and fund potential deals in the United States. The deal between Murphy and PTTEP comes as M&A activity is heating up in Malaysia's oil and gas sector, where global companies pursuing expansion plans are spotting opportunities.
DUBAI/ABU DHABI, March 14 (Reuters) - Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB. "We have suspended any activities with Goldman Sachs pending outcome of the litigation," Brian Lott, spokesman of Mubadala Investment Co, said in response to questions from Reuters.