OMV eyes sale of Bayernoil refinery stake

By OGJ editors

OMV AG has taken a step toward refinery divestment in a strategy announced earlier to shift its focus to exploration and production (OGJ Online, Dec. 6, 2011).

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.

Related Articles

Magellan Midstream to build condensate splitter

04/01/2014 Pipeline operator Magellan Midstream Partners LP, Tulsa, reported it will spend $250 million to build a 50,000 b/d capacity condensate splitter and...

Crestwood Midstream to expand Permian Delaware basin gathering, processing

04/01/2014 Crestwood Midstream Partners LP, Houston, will expand its Willow Lake project in the Permian Delaware basin, the company reported. Phase 2 includes...

ORPIC lets contract for ethylene plant

03/31/2014 Oman Oil Refineries & Petroleum Industries Co. (ORPIC) has let a contract to CB&I to provide ethylene technology and front-end engineering ...

Watching Government: Systems and weather events

03/31/2014 The question was how much the federal government could do to make US oil, gas, and electricity systems less vulnerable to weather events linked to ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected