Downstream Company of the Year
Providing energy to more than 100 million people in central and southeast Europe, Austria's OMV is a downstream powerhouse.
The company was the first European supplier of unleaded fuels to the continent and achieved exemplary environmental standards in the 1990s—well before its competitors. Today, OMV still stresses the importance of quality and service-prioritising safety, environmental protection and social responsibility above all else.
Through the company's marketing strategy and supply infrastructure, OMV is now the leading downstream entity in Central Europe. The firm operates the Schwechat refinery in Austria—one of the largest and most technologically advanced inland facilities in Europe-and Petrobrazi, the largest refinery in Romania. Across Europe, OMV has a combined refining capacity of 22.3m tonnes per year.
OMV is also one of five companies which signed financing agreements for the Nord Stream 2 natural gas pipeline. The 12,000km planned pipeline through the Baltic Sea when complete will supply a total capacity of 55bn cubic metres per year. Each company has pledged to fund up to €0.95bn ($1.1bn) and is scheduled to be completed by the end of 2019.
While the company's hydrocarbon production soared to a ten-year high of 339,000 barrels of oil equivalent per day in the second quarter of 2017, the company has remained committed to its downstream growth. Firmer middle distillate margins helped to boost OMV's overall downstream operating profits 30% higher in the first half of 2017, compared to the year-earlier level, reaching €0.9bn.