OMV AG#

OMV AG: From 1945-1955, the Austrian oil industry was considered a former "German asset" and as such was administered by the Soviet Union under the name of SMV. After the Austrian State Treaty had been signed in 1955, the oil industry was returned to Austrian possession. 1956 saw the foundation of the Oesterreichische Mineraloelverwaltung AG (since 1974 under the name of OeMV AG, since 1995 OMV AG), its task was the administration of Austrian petroleum resources. In 1958, the foundations for the Schwechat refinery were laid, production began towards the end of 1960. Up to 1987, when the first segment of privatisation took place, the Federal Republic of Austria held 100% of the company´s shares. Since 1995 shares are divided as follows: 35 % OeIAG (for the Federal Republic of Austria), 19.6 % IPIC (Abu Dhabi), the remainder being held by minority shareholders. Nominal capital amounts to 2.7 billion ATS. Areas of activity include prospecting, drilling and production of crude oil and natural gas, processing and sale of petroleum products, chemical products and polymer technology. The annual output of Schwechat refinery amounts 10 million t. The petrol station chains OMV and Stroh and the Agrolinz Melamin GmbH belong to the OMV group. The group also has interests in natural gas exploitation in other countries (e.g. United Kingdom, Libya and Australia). Group turnover in 1999 ATS 71.27 billion, 5,953 employees.