OMV completes sale of Bayernoil interest

OMV AG has closed the sale of its 45% interest in the Bayernoil refining complex near Ingolstadt, Germany, and related businesses to Varo Energy BV (OGJ Online, Dec. 19, 2013).

Varo Energy is owned by The Carlyle Group and Vitol Group.

Terms of the sale weren’t disclosed.

The sale is part of an OMV strategy to concentrate on exploration and production and refining integrated with petrochemical manufacture (OGJ Online, Jan. 13, 2012).

Bayernoil integrates plants at Vohburg and Neustadt with combined capacity of 215,000 b/d.

Other Bayernoil interests are held by subsidiaries of Ruhr Oel GMBH 25%, Eni SPA 20%, and BP PLC 10%.

Related Articles

Shell submits revisions to its 2015 Chukchi Sea exploration plan

08/29/2014 Shell Offshore Inc. submitted revisions to its previously approved Chukchi Sea exploration plan on Aug. 28, a spokesman for the company confirmed. ...

BLM announces California oil, gas strategy as CCST issues report

08/29/2014 The US Bureau of Land Management’s California state office announced a comprehensive strategy for its oil and gas program in the state after receiv...

MARKET WATCH: Crude oil futures end trading session higher in New York

08/29/2014

Crude oil futures prices trended upwards Aug. 28, ending the day’s trading session higher, while the ICE contract for Brent retreated.

EIA: US sees lowest pre-Labor Day gasoline prices in 4 years

08/29/2014 US retail prices for regular gasoline averaged $3.45/gal on Aug. 25, which was lowest price on a Monday preceding the Labor Day holiday in the US s...

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