Streetbeat News

OMVKY

OMV AG

https://www.omv.com

CEO

Rainer Seele

Industry

Support Activities for Oil and Gas Operations

Open

10.16

Mkt cap

13B

Volume

1.5K

High

10.24

P/E Ratio

9.66

52-wk high

13.17

Low

10.13

Div yield

0.15

52-wk low

9.82

TotalEnergies SE (NYSE:TTE) is reportedly exploring the sale of a 50% stake in its renewable projects portfolio valued at approximately $2.5 billion, spanning the U.S., Spain, Portugal, France, and Greece. This follows a recent acquisition of a 50% stake in SapuraOMV Upstream Sdn for $903 million and winning a 20-year contract to supply 1.34 GW of renewable electricity to New Jersey. TTE shares dipped by 1.23% to $64.65.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 4:51 pm

TotalEnergies SE (NYSE:TTE) has agreed to purchase a 50% stake in SapuraOMV Upstream Sdn from OMV AG (OTCPK: OMVKY) for $903 million, which includes the transfer of a $350 million loan. The assets are located offshore Sarawak in Malaysia, and the deal is expected to close by the end of the first half of 2024. This acquisition aligns with TotalEnergies' strategy to grow in Malaysia and strengthen its partnership with Petronas, while also contributing to the demand for gas in Asia. Additionally, TotalEnergies recently won a contract to supply 1.34 GW of renewable electricity to New Jersey.

Portfolio Pulse from Lekha Gupta

January 31, 2024 | 5:29 pm

Apple lost an appeal over 4G patent infringement in London court, marking another victory for Optis Cellular Technology. Deutsche Bank and Commerzbank face a $348M lawsuit by RusKhimAlyans, a Gazprom subsidiary. Nikola Corp plans to liquidate the assets of battery maker Romeo Power. Pfizer and Samsung Biologics signed two agreements for long-term manufacturing of Pfizer's biosimilar portfolio, worth $897M. Airbus is investing in a new Wing Technology Development Centre at its Filton site in the UK. TSMC expects a significant revenue rebound due to the launch of new Apple iPhones and strong demand for AI chips. Rivian Automotive reported Q2 production and delivery numbers. Evotec secured a US government contract for orthopoxvirus antibody. Mondelēz recalled two varieties of belVita biscuits in the US over peanut contamination. BYD plans to invest $620M in Brazil's Camaçari Industrial Complex. Alibaba is conducting a strategic review of video streaming platforms Youku and Tudou. UPS drivers consider going on strike after failed labor talks. OMV and ADNOC are in talks to create a chemicals and plastics company worth over $30B. Haleon is considering divesting some smoking cessation products to sell non-core businesses.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 1:23 pm

Austria's OMV AG is reportedly in talks with Abu Dhabi National Oil Co. (ADNOC) to merge their companies, Borouge Plc and Borealis AG, into a chemicals and plastics firm worth over $30 billion. The potential valuation and ownership structure are being discussed, with formal merger terms expected in the coming weeks. OMV owns 75% of Borealis, while ADNOC holds the remaining. The combined entity's valuation may exceed $30 billion, including potential synergies.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 9:52 am

Ryanair reported FY23 revenue growth of 124% Y/Y to €10.78 billion and a net profit of €1.43 billion, compared to a net loss of €355 million a year ago. The company's fuel needs are 85% hedged for FY24 and 25% of H1 FY25. Ryanair recently signed deals with Repsol, OMV, Neste, and Shell for sustainable aviation fuel. However, Boeing's delivery delays may impact FY24 traffic expectations.

Portfolio Pulse from Lekha Gupta

May 22, 2023 | 10:40 am

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