OMV’s spending plan for 2019 does not include investment in the Romanian offshore project it is co-developing with ExxonMobil, suggesting the Austrian player is taking a long break on developments in the Black Sea.
During the presentation of its 2018 annual financial results on Wednesday afternoon, OMV Petrom Chief Executive Christina Verchere said the company’s planned 2019 capex will amount to RON 3.7 billion ($890 million). Of this, 75% will be dedicated to the upstream sector and in particular to maximising the value of the company’s...
Stay informed with exclusive, accurate and up-to-date energy news, analysis and intelligence. Sign up for 7-day trial access to this and more premium content. It's free!