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

Genesis looks at expansion of Huntly power station
Energy

Genesis looks at expansion of Huntly power station

Market being tested for risk investment appetite. 

Winter 2026 energy shortage warning confirmed
Energy

Winter 2026 energy shortage warning confirmed

Gas has declined even further, but so has industrial demand.

Ian Llewellyn 30 Jun 2025
UK’s Eku Energy buys into Waikato battery storage project
Energy

UK’s Eku Energy buys into Waikato battery storage project

The deal is with overseas-owned NZ company Helios Energy.

John Anthony 26 Jun 2025
Public Trust makes claims of $900m against SolarZero
Law & Regulation

Public Trust makes claims of $900m against SolarZero

Public Trust has made unsecured claims against the company.

Ian Llewellyn 25 Jun 2025