OMV eyes retail asset sales in two countries

By OGJ editors

OMV AG, Vienna, is considering the sale of its retail and commercial business in Croatia and Bosnia-Herzegovina as it shifts its strategy toward oil and gas exploration and electric power.

The company has had retail and commercial business in Croatia since 1992, operating as OMV Hrvatska with 63 service stations and a market share of about 13%. It has been in Bosnia-Herzegovina since 2001 through subsidiary OMV BH. There it has 28 service stations and a market share of about 8%.

In a statement, OMV said it is “gradually shifting the portfolio away from refining and marketing towards exploration and production and gas and power.”

It said it “will continue focusing the retail and commercial business on markets with integrated supplies.”

OMV operates refineries in Austria, Germany, and Romania and has interests in the Bayernoil refineries in Germany.

The company’s Turkish subsidiary, OMV Petrol Ofisi, recently sold its 52% interest in a Cypriot retail company, Kibris Turk Petrolleri Ltd. Sirketi.

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