OMVKY - OMV AG In 9M FY18: Production Leap Low Costs
On October 31, 2018, Austrian integrated O&G company OMV AG (OMVKY, OMVJF) presented its Q3 and 9M financial results. Energy investors are well aware that the industry as a whole benefited from expensive oil in 9M FY18, and OMV was no exception. Its clean CCS operating result (analogue of adjusted EBIT) surged to the record level in a decade. What is more, its production increased to 406 kboepd, and the 2020 target of 500 kboepd will be likely reached in 2018. Let’s take a more in-depth look at the background of these