OMV

OMV (formerly "Österreichische Mineralölverwaltung", ÖMV), is an integrated international oil and gas company, headquartered in Vienna. It is active in the upstream (Exploration and Production) and downstream businesses (Refining and Marketing as well as Gas and Power). With group sales of EUR 36 bn, a global workforce of around 25,500 and a market capitalisation of EUR 7 bn (end of 2014), OMV is one of the largest listed industrial companies in Austria.

History

OMV (ÖMV as it was known then) originated in 1956 as a joint-stock company formed out of the Soviet Mineral Oil Administration (Sowjetische Mineralölverwaltung, SMV), a corporation formed during the Soviet zone of occupation in post-war Austria. Four years later, in 1960, the company opened the Schwechat refinery near Vienna. At the end of 1987, 15% of OMV was privatised, making it the first public listing of a state-owned company in Austria. In 1989, OMV acquired a 25% stake in plastics group, Borealis.

In 1990 the company opened its first filling station in Vienna-Auhof on 26 June 1990.