OMV's Q1 core profit falls due to production disruptions in LibyaChristian Fernsby ▼ | May 3, 2019
OMV saw a 7 percent decline in its core profit in the first quarter as it was not able to lift any oil from Libya.
Europe Clean current cost of supplies came in at 759 million euros
OMV’s upstream oil production slipped in the first quarter as it was hit by disruptions at Libya’s Sharara field, which resumed output in early-March. It said it had not loaded any Libyan crude during the quarter.
The group spent 44 million euros on the largely disputed Nord Stream 2 pipeline project, in which it is one of five western finance partners. The project still misses a permit from Denmark.
OMV said it will continue to finance the Nord Stream 2 pipeline. ■