11 Aug 2011
(MENAFN) OMV’s chief executive, Gerhard Roiss, said that due to the political upheaval in Libya, the Austrian oil firm’s profit dropped 25 percent in the second quarter to USD337.6 million from USD449 million in the same period in 2010, reported The National.
Roiss added that the company, which 20 percent of is owned by the Abu Dhabi government, started negotiations with the Libyan Transitional National Council in order to restart production in the country which contributed with 10 percent of the company’s output in 2010.
He also said that the shutdown in Libya’s operations forced the company to purchase replacement crude for its low-margin refining operations.
It is worth noting that the company’s production was also affected by the unrest in Yemen, since an attack on a pipeline in March stopped operations, however, the pipeline was fixed in July and oil pumping was resumed.
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more