Results met the consensus, with upstream having a smaller rebound than peers, but a higher downstream. In upstream, the rebound was driven a the stronger oil price, partly offset by lower production and lower realized natural gas prices. The downstream delivered positive results, as OMV confirmed its ability to perform better than peers by leveraging its integration model (e.g. the ability to divert kerosene into petrochemical production).
29 Oct 2020
Q3: in line, now time for divestments
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Q3: in line, now time for divestments
Results met the consensus, with upstream having a smaller rebound than peers, but a higher downstream. In upstream, the rebound was driven a the stronger oil price, partly offset by lower production and lower realized natural gas prices. The downstream delivered positive results, as OMV confirmed its ability to perform better than peers by leveraging its integration model (e.g. the ability to divert kerosene into petrochemical production).