Oil and gas giant OMV NZ reports higher profits

Oil and gas giant OMV NZ reports higher profits
OMV lifts it assets' valuation as it looks for a buyer. (Image: NZME)
Ian Llewellyn
Oil and gas company OMV New Zealand has reported higher profits, assets and decommissioning costs.The latest accounts follow OMV saying it wanted to sell all its NZ assets.The NZ subsidiary of multinational OMV said for the 12 months ending Dec 31, 2022, it made earnings before interest and tax (Ebit) of $489.5 million up from $184.2m in the previous calendar year.The Ebit figures include some noise, with the latest year balancing out $399.6m of capitalised depreciation and impairment charges against a $396.2m writeback in the value of previous...

More Energy

Another step taken to secure future of Huntly Power Station
Markets

Another step taken to secure future of Huntly Power Station

Gentailers have agreed to set up a strategic reserve centre at Huntly.

Ian Llewellyn 19 Jun 2025
International interest on bringing LNG to NZ: Jones
Markets

International interest on bringing LNG to NZ: Jones

Shane Jones says there is interest in a Taranaki LNG terminal, despite local scepticism.

Ian Llewellyn 19 Jun 2025
EnPot inks deal with Siemens Energy
Energy

EnPot inks deal with Siemens Energy

The NZ company was born out of research at the University of Auckland.

Greg Hurrell 19 Jun 2025
Household electricity bills increase by 10%
Energy

Household electricity bills increase by 10%

Ministers consider whether to modify the market structure.

Ian Llewellyn 16 Jun 2025