OMV AG, Vienna, is considering the sale of its retail and commercial business in Croatia and Bosnia-Herzegovina as it shifts its strategy toward oil and gas exploration and electric power.
The company has had retail and commercial business in Croatia since 1992, operating as OMV Hrvatska with 63 service stations and a market share of about 13%. It has been in Bosnia-Herzegovina since 2001 through subsidiary OMV BH. There it has 28 service stations and a market share of about 8%.
In a statement, OMV said it is “gradually shifting the portfolio away from refining and marketing towards exploration and production and gas and power.”
It said it “will continue focusing the retail and commercial business on markets with integrated supplies.”
OMV operates refineries in Austria, Germany, and Romania and has interests in the Bayernoil refineries in Germany.
The company’s Turkish subsidiary, OMV Petrol Ofisi, recently sold its 52% interest in a Cypriot retail company, Kibris Turk Petrolleri Ltd. Sirketi.
Bob Tippee | Editor
Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.
