OMV writes off assets in Russia for 2.5 billion euros
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The Austrian oil and gas concern OMV has written off assets in Russia in the amount of 2.5 billion euros, Alfred Stern, the head of OMV, said at a press conference.
“The crisis between Russia and Ukraine has led to a €2.5 billion write-off of assets,” he said (quote according to TASS).
Reinhard Flory, CFO of OMV, also noted that the company currently does not receive gas from Gazprom under a contract for Germany. Deliveries under the contract to Austria fluctuate greatly, but currently they are 100% of the contract volumes.
In April 2022, the company announced that it had written off almost €2 billion of assets in the first quarter of the year due to loss of revenue from the Nord Stream 2 project and others related to Russia. The losses from Nord Stream 2 accounted for almost half. It was noted that the company lost the opportunity to receive dividends from a joint venture with Gazprom to develop the Yuzhno-Russkoye field.
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