OMV

Corporate brand

An Austrian integrated energy, fuels, and chemicals group with operations spanning oil and gas, refining, retail, petrochemicals, gas trading, and lower-carbon energy.

Last updated August 31, 2026

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Overview

OMV Aktiengesellschaft is an Austrian integrated energy company headquartered in Vienna and listed on the Vienna Stock Exchange. Established in 1956 as the successor to the Soviet Mineral Oil Administration in post-war Austria, it initially developed around domestic petroleum supply, refining, pipelines, and natural-gas infrastructure. The opening of the Schwechat refinery in 1960, a first gas-supply agreement with the Soviet Union in 1968, and the commissioning of the Adria–Vienna oil pipeline and Trans-Austria Gas Pipeline in the early 1970s positioned OMV as both an Austrian supplier and a Central European energy-transit business. OMV began partial privatization in 1987 and subsequently pursued regional expansion. Its acquisition of a stake in Borealis in 1998 established a long-term connection with the polyolefins and chemicals sector. The purchase of upstream assets from Preussag Energie in 2003 and the 2004 acquisition of a controlling interest in Romania’s Petrom transformed OMV into one of Central Europe’s largest oil and gas groups. The company also expanded through investments in Hungary’s MOL, Turkey’s Petrol Ofisi, and North Sea assets acquired from Statoil in 2013. Some of these positions were later sold as OMV refined its portfolio and capital allocation priorities. The group’s business is organized around Energy, Fuels, and Chemicals. Energy includes exploration and production, natural-gas marketing, power generation, gas storage, trading, liquefied natural gas, and emerging activities such as geothermal energy, renewable electricity, carbon capture and storage, and low-carbon hydrogen. Fuels covers refining, supply and trading, commercial sales, service stations, aviation and mobility fuels, and electric-vehicle charging. Chemicals is anchored by OMV’s majority ownership of Borealis and its participation in the Borouge-related chemicals platform. OMV has historically operated across Europe, the Middle East, North Africa, and Asia. Its portfolio has changed materially in response to strategic, geopolitical, and energy-transition considerations. The company suspended new investments in Russia in 2022 and later recognized impairments and exited remaining Russian interests after the Russian government enabled the seizure of certain foreign-owned assets. It also ended its long-term gas-supply relationship with Gazprom Export in 2024, citing contractual breaches. At the same time, OMV has continued to develop major gas resources, including the Neptun Deep project in Romania’s Black Sea sector, while investing in geothermal heat, renewable power, sustainable fuels, hydrogen, recycling, and carbon-management technologies. OMV announced a new corporate identity in June 2024 as part of its Strategy 2030. The refreshed brand presents the company as a broader energy and materials group rather than solely an oil and gas producer. Its stated long-term ambition is net-zero greenhouse-gas emissions for Scope 1, 2, and 3 by 2050, aligned with the Paris Agreement. The company remains active in conventional energy and refining while attempting to reduce the carbon intensity of its portfolio and build businesses in circular chemicals and lower-carbon energy.

History

OMV was registered on 3 July 1956 as Austria’s post-war state oil company and successor to the Soviet Mineral Oil Administration. Its early development focused on securing domestic fuel supply and building strategic infrastructure. The Schwechat refinery began operating in 1960. A gas-supply agreement with the Soviet Union followed in 1968, while the Adria–Vienna Pipeline, placed in service in 1970, connected the Schwechat refinery to seaborne crude arriving at Trieste. The Trans-Austria Gas Pipeline, commissioned in 1974, strengthened Austria’s role as a gas-transit country. The company entered a new phase in 1987, becoming the first Austrian state-owned enterprise to undergo partial privatization when 15 percent of its shares were offered on the Vienna Stock Exchange. It acquired the Burghausen refinery in Germany that year and opened its first branded retail filling station in Vienna in 1990. Abu Dhabi’s International Petroleum Investment Company took a substantial minority position in 1994. In 1995, the company changed its public name from ÖMV to OMV to improve international usability. During the late 1990s and early 2000s, OMV pursued Central and Eastern European consolidation. It acquired an initial 25 percent interest in Borealis in 1998, bought approximately 10 percent of Hungary’s MOL in 2000, and acquired Preussag Energie’s upstream business in 2003. In 2004 it purchased 51 percent of Romania’s Petrom for €1.5 billion, at the time its largest transaction. Petrom supplied significant exploration, production, refining, and retail assets and became the foundation of OMV’s Romanian business. OMV and IPIC obtained full control of Borealis in 2005. The group also bought into Turkey’s Petrol Ofisi and increased its MOL holding, although its attempted combination with MOL ultimately failed and OMV sold its MOL stake in 2009. The company later increased its Petrol Ofisi holding to full ownership before selling the Turkish business to Vitol in 2017. In 2013, OMV acquired a large package of Norwegian and United Kingdom continental-shelf assets from Statoil for US$2.65 billion, materially expanding its North Sea upstream portfolio. Its interest in the Bayernoil refinery was sold in 2014. The following decade brought both international expansion and portfolio reshaping. OMV acquired a 50 percent interest in SapuraOMV in Malaysia in 2019 and agreed to acquire a 15 percent interest in ADNOC Refining. In 2020, it increased its Borealis ownership to 75 percent and commissioned a large photovoltaic facility in Austria. Verbund acquired a 51 percent interest in Gas Connect Austria from OMV in 2021. Alfred Stern became chief executive in June of that year, and OMV agreed to sell its Slovenian retail business to MOL. OMV’s relationship with Russia became a major strategic issue. The company had participated in financing for Nord Stream 2 and held Russian interests, but it stopped pursuing new Russian investments in March 2022. In 2023, Russian measures enabled the seizure of interests held by several European energy companies, including OMV’s interests in the Yuzhno-Russkoye field. OMV subsequently impaired and exited its remaining Russian activities. In December 2024, it terminated its Gazprom Export gas contract after alleging repeated breaches. More recently, OMV has emphasized portfolio transformation. It introduced a new corporate identity in 2024 and has expanded into electric mobility, geothermal heat, renewable electricity, carbon capture, hydrogen, sustainable fuels, and chemical recycling. The Neptun Deep offshore gas project in Romania, operated through OMV Petrom with Romgaz, is planned to begin production in 2027 and is expected to be one of the European Union’s largest offshore gas developments. OMV’s chemicals strategy is also being reshaped through the proposed combination of Borealis and Borouge, linking its European materials base with ADNOC’s Middle Eastern platform.

2024
New corporate identity
[1]OMVen.wikipedia.org
OMV launches a new corporate identity linked to Strategy 2030.
2023
eMotion network rollout
[1]OMVen.wikipedia.org
OMV begins deploying electric-vehicle charging stations across Central and Eastern Europe.
2022
Russia investment suspension
[1]OMVen.wikipedia.org
OMV announces that it will no longer pursue investments in Russia.
2021
Alfred Stern becomes CEO
[1]OMVen.wikipedia.org
Alfred Stern is appointed chief executive officer and chairman of the executive board.
2020
Borealis stake increases
[1]OMVen.wikipedia.org
OMV raises its ownership of Borealis to 75 percent.
2013
North Sea asset acquisition
[1]OMVen.wikipedia.org
OMV completes its acquisition of oil and gas assets from Statoil in Norway and the United Kingdom.
2004
Petrom acquisition
[1]OMVen.wikipedia.org
OMV acquires 51 percent of Romania’s Petrom for €1.5 billion.
1998
Initial Borealis investment
[1]OMVen.wikipedia.org
OMV acquires a 25 percent interest in Borealis, beginning its major chemicals platform.
1987
Partial privatization
[1]OMVen.wikipedia.org
OMV becomes the first Austrian state-owned enterprise to be partially privatized and listed.
1970
Adria–Vienna Pipeline enters service
[1]OMVen.wikipedia.org
The pipeline connects Austria’s refining system with crude delivered through Trieste.
1968
First Soviet gas-supply agreement
[1]OMVen.wikipedia.org
OMV signs its first natural-gas supply contract with the Soviet Union.
1960
Schwechat refinery opens
[1]OMVen.wikipedia.org
The Schwechat refinery near Vienna enters operation and becomes a core part of OMV’s refining system.
1956
OMV is established
[1]OMVen.wikipedia.org
OMV Aktiengesellschaft is registered on 3 July as the successor to the Soviet Mineral Oil Administration in Austria.

Products and positioning

An integrated European energy and chemicals group combining upstream resources, refining and mobility, gas and power infrastructure, and a growing portfolio of circular and lower-carbon technologies.

Retail and mobility · 1990
OMV fuels and service stations
OMV sells gasoline, diesel, lubricants, convenience products, and other mobility services through its branded retail network. The fuels business also serves commercial, industrial, transport, aviation, and construction customers through supply, trading, and distribution activities.
Refining · 1960
Schwechat refinery
The Schwechat refinery near Vienna is OMV’s historic refining center. It processes crude oil and other feedstocks into transport fuels, heating products, and petrochemical intermediates for Austrian and regional markets.
Petrochemicals · 1998
Borealis chemicals
Borealis is OMV’s majority-owned chemicals business and produces polyolefins and related materials used in packaging, infrastructure, energy, mobility, healthcare, and consumer applications. The business is also involved in circularity and chemical-recycling initiatives.
Electric mobility · 2023
eMotion
eMotion is OMV’s electric-vehicle charging brand, introduced across several Central and Eastern European countries. It extends OMV’s traditional mobility network toward electric transport and complementary charging services.
Natural gas
Neptun Deep
Neptun Deep is an offshore natural-gas development in Romania’s Black Sea sector, involving the Domino and Pelican South fields. OMV Petrom and Romgaz plan multiple production wells, with first production targeted for 2027.
Renewable heat · 2023
Geothermal energy
OMV is developing deep-geothermal projects, including a joint venture with Wien Energie for the Vienna metropolitan area. The initiative is intended to provide locally produced, lower-carbon heat for households and industry.

Controversies

2020
Polish watchdog fines Gazprom over Nord Stream 2
Poland's anti-monopoly watchdog said it fined Gazprom more than 29 billion zlotys for building the Nord Stream 2 gas pipeline without its approval. The watchdog also said it fined five other firms involved in financing the project, including Uniper, Wintershall, Shell, OMV, and Engie.
Source

2024Strategy 2030 corporate identity
International
OMV introduced a redesigned visual identity and brand narrative to communicate its evolution from a conventional oil and gas company into an integrated energy, fuels, and chemicals group supporting lower-carbon transformation.
Outcome. New corporate identity launched.
Source

Brand decisions

2025
Proposed Borealis–Borouge combinationM&A
Background
OMV and ADNOC sought to combine their polyolefins businesses into a jointly controlled international chemicals company.
Action taken
The companies agreed key commercial terms for combining Borealis and Borouge.
Aftermath
The proposed combination would expand OMV’s chemicals platform and shift its production footprint toward the Middle East and North America.
Source
2023
Launch of eMotion charging networkProduct launch
Background
OMV sought to extend its mobility business beyond liquid fuels as electric-vehicle adoption increased in its European markets.
Action taken
The company began rolling out eMotion charging stations in Austria, Romania, Slovakia, Hungary, the Czech Republic, and Bulgaria.
Aftermath
The rollout established electric mobility as a visible component of OMV’s retail and lower-carbon offering.
Source
2022
Suspension of Russian investmentStrategy
Background
Russia’s invasion of Ukraine changed the political and commercial environment for European energy companies operating or investing in Russia.
Action taken
OMV announced that it would no longer pursue investments in Russia and later impaired and exited its remaining Russian interests.
Aftermath
The decision reduced OMV’s Russian exposure and contributed to a broader reshaping of its supply and asset portfolio.
Source
2017
Exit from Petrol OfisiStrategy
Background
OMV had increased its Turkish retail subsidiary to full ownership after acquiring the remaining interest in 2015.
Action taken
OMV sold Petrol Ofisi to Vitol Group.
Aftermath
The sale reduced OMV’s exposure to Turkish downstream retail and supported portfolio focusing elsewhere.
Source
2009
Sale of MOL stakeStrategy
Background
OMV had increased its holding in Hungarian oil and gas company MOL while pursuing a possible takeover that faced regulatory constraints and resistance from MOL.
Action taken
OMV sold its entire MOL stake in March 2009.
Aftermath
The disposal ended OMV’s takeover effort and redirected capital toward other regional and international assets.
Source
2006
Abandoned merger discussions with VerbundM&A
Background
OMV and Austrian electricity company Verbund explored a combination that would have joined major oil, gas, and power assets.
Action taken
The parties ended negotiations after political opposition, including opposition in the Austrian Parliament.
Aftermath
OMV continued as an independent integrated energy company and later developed other gas and power partnerships.
Source

Recent events

2025
OMV and ADNOC agree terms for a polyolefins combination[1]OMVen.wikipedia.org
M&A
The companies announced key commercial terms for combining Borealis and Borouge into a jointly controlled international chemicals platform.
2024
OMV presents a new corporate identity under Strategy 2030[1]OMVen.wikipedia.org
Other
OMV introduced a redesigned corporate identity intended to express its transformation into a broader energy, fuels, and chemicals group.
2024
OMV terminates long-term Gazprom Export gas contract[1]OMVen.wikipedia.org
Regulation
OMV ended its long-term natural-gas supply contract with Gazprom Export, citing repeated contractual breaches.
2024
OMV introduced the Forward for Good brand campaign[4]OMV introduced the Forward for Good brand campaignomv.com
Campaign
A new brand identity and Austria-wide multimedia campaign connected OMV’s Strategy 2030 with sustainability, circular economy, electromobility, geothermal energy, and sustainable aviation fuel.
2023
OMV launches eMotion charging network[1]OMVen.wikipedia.org
Product launch
OMV began rolling out branded electric-vehicle charging infrastructure in several Central and Eastern European markets.
2023
OMV and Wien Energie form geothermal joint venture[1]OMVen.wikipedia.org
Product launch
The companies established a venture to develop deep-geothermal projects intended to supply low-carbon heat in the Vienna region.
2023
OMV launched a transformation campaign focused on responsibility and innovation[5]OMV launched a transformation campaign focused on responsibility and innovationomv.com
Campaign
The 2023 Austrian campaign presented OMV as a reliable supplier while highlighting geothermal energy, plastic recycling, electric mobility, and sustainable aviation fuel.
2022
OMV suspends further Russian investments[1]OMVen.wikipedia.org
Regulation
The company announced that it would no longer pursue investments in Russia following the invasion of Ukraine.
2022
ADNOC acquires a stake in OMV[1]OMVen.wikipedia.org
M&A
ADNOC acquired a 24.9 percent interest in OMV from Mubadala Petroleum and Petrochemicals Holding Company.
2020
OMV completed the acquisition of an additional Borealis stake[6]OMV completed the acquisition of an additional Borealis stakeomv.com
M&A
OMV closed the purchase of an additional 39 percent interest in Borealis, a major step in strengthening its chemicals business.

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