The company has appointed Deutsche Bank to assist with what it describes as “the divestment program in the [refining and marketing] business.”
A possible part of that program, it said, is the sale of its 45% stake in the 215,000-b/cd Bayernoil refining complex near Ingolstadt, Bavaria, Germany.
The integrated complex has crude oil distillation and catalytic cracking units with related desulfurization and other facilities at two sites: Vohburg and Neustadt. The Neustadt site also has a mild hydrocracker.
OMV said it is focusing its downstream business on refineries integrated with petrochemicals or upstream operations. Its 209,000-b/cd refinery in Schwechat, Austria, and 72,000-b/cd refinery at Burghausen, Germany, have integrated petrochemicals production. Its 90,000-b/cd Petrobrazi refinery in Ploesti, Romania, is fully adapted to Romanian crude oil (OGJ Online, Apr. 13, 2010).
The company also owns the 70,000 b/d Arpechim refinery in Pitesti but has been operating it intermittently and is reported to be preparing to transfer ownership to the Romanian government.
OMV earlier sold a 52% interest in a Cypriot retail company and announced plans to sell subsidiary downstream companies in Croatia and Bosnia-Herzegovina.