2019 was a successful year for OMV in a challenging market environment. Michael Woltran presents one of the OMV highlights of the second half of 2019. The way we live today is unthinkable without energy. And in future, this energy will need to have even lower CO2 emissions. Gas has a key role to play here. Natural gas on the road can reduce CO2 by 10 to 20 percent – and it can do so immediately. That is also true for heavy traffic. An area where gas clearly trumps the alternatives.

2019 was a successful year for OMV in a challenging market environment. OMV achieved a strong operating result of 3.5 billion Euros. The financial performance in Upstream decreased in 2019 mainly due to higher depreciation following the acquisitions in New Zealand, the United Arab Emirates and Malaysia as well as lower realized oil and gas prices. The operating result in Downstream performed well, driven by strong commercial and retail operations.

The OMV Strategy 2025 builds on this proven concept of integration. This ensures that, even during a crisis, the Group has a balanced and robust revenue stream. OMV’s intention to growth in both Upstream and Downstream has been executed successfully. Our broader Upstream operations are balanced by a larger Downstream asset base. By increasing our share in the petrochemicals company, Borealis, we have expanded further along the value chain.