Overview
OMV Aktiengesellschaft is an Austria-based integrated energy and chemicals company. Its three business areas are Chemicals, Fuels & Feedstock, and Energy. They encompass the production and marketing of chemicals and plastics, refining and fuel retail, and oil and gas exploration, production and marketing. OMV operates internationally, with a substantial European refining and retail presence and chemicals activities serving customers worldwide.[1]
OMV states its purpose as “Re-inventing essentials for sustainable living.” Its strategy is to develop as an integrated sustainable chemicals, fuels and energy company, including activities in plastics recycling and lower-carbon energy. In 2024, it reported approximately EUR 34 billion in sales revenue and employed nearly 24,000 people.[1] [2][3][4][5][5][1]
Products & services
OMV’s fuel products include gasoline, diesel, heating oil and other refined products. It also supplies sustainable aviation fuel made from used cooking oil, HVO100 diesel for commercial road transport, and Marine Gasoil ECO20, a marine fuel incorporating HVO. Its retail offering includes MaxxMotion premium fuel and VIVA shops, food and services at filling stations.[6][7]
Through Borealis, OMV produces polyethylene and polypropylene, including specialty polyolefin grades used in consumer products, energy, healthcare, infrastructure and mobility. Its base chemicals include ethylene, propylene, butadiene, high-purity isobutene, benzene and phenol. Borealis’ Borstar technology supports specialty polyolefin production; specialty grades account for around 45% of its polyolefin sales volumes. OMV’s ReOil process converts waste plastics into shorter-chain hydrocarbons through pyrolysis at approximately 400–450°C.[8][9][10][11]
OMV also produces crude oil and natural gas and markets and trades natural gas, liquefied natural gas and power. Its related services include natural-gas storage in Austria and Germany.[4] [6][7][8][9][10][11][4]
Geographic presence
OMV is headquartered in Vienna, Austria. Its European refining sites are in Schwechat, Austria; Burghausen, Germany; and Petrobrazi, Romania. Its European retail network spans eight countries, while its chemicals operations include facilities in Sweden, Finland and Belgium. OMV also has energy operations in Norway, Central and Eastern Europe, North Africa, the United Arab Emirates and New Zealand.[12][13][9][14]
In 2024, OMV reported €33,981 million in sales to third parties. Austria accounted for €7,154 million (21.1%), Romania €6,003 million (17.7%) and Germany €5,371 million (15.8%). It also reported €5,072 million from the rest of Central and Eastern Europe and €4,785 million from the rest of Europe.[15] At year-end 2024, OMV had 23,557 employees, including 11,343 in Romania, 5,407 in Austria and 910 in Germany.[16] [13][9][14][15][15][15][15][15][15][16][16][16][16][12]
Business segments
OMV reported three operating segments in 2024. **Chemicals** comprised base chemicals, polyolefins and circular products, including activities conducted through Borealis and joint ventures. **Fuels & Feedstock** covered refining, supply and trading, and commercial and retail fuel sales. **Energy** encompassed oil and gas exploration and production, gas marketing and power, and lower-carbon activities such as geothermal energy and carbon capture and storage.[17][18][19]
Measured by 2024 sales to third parties, Fuels & Feedstock accounted for approximately **49%** of group revenue (€16.6 billion), Energy **26%** (€9.0 billion), and Chemicals **25%** (€8.4 billion). Corporate & Other contributed less than 1%. These shares exclude sales between OMV’s segments.[20] [17][18][19][20]
Company history
OMV was founded on July 3, 1956, as Österreichische Mineralölverwaltung AG. The cornerstone of its Schwechat refinery was laid in 1958, and the installation of an ethylene unit there in 1969 marked an early expansion into petrochemicals. In 1987, the Austrian state began partially privatizing the company through a public share offering on the Vienna Stock Exchange.[21][22][23]
OMV opened its first OMV-branded filling station in Vienna in 1990. It began acquiring interests in petrochemicals producer Borealis in 1997 and contributed its PCD Polymere subsidiary to Borealis in 1998. A major regional expansion followed in 2004, when OMV acquired a 51% stake in Romania’s Petrom. In 2020, OMV increased its Borealis holding from 36% to 75%, making chemicals a larger part of the group.[24][25][26][27] [21][22][23][24][25][26][27]
Sources
Continue your research
From company context to financial detail.
Explore original sources and worldwide fundamental financial data and intelligence with Finbar.
Explore OMV AKTIENGESELLSCHAFT /FI in Finbar ↗