Published by
Reuters UK

BERLIN (Reuters) – Vienna-based oil and gas group OMV said on Thursday it would have to make cash-neutral write-downs and value adjustments of around 1.7 billion euros ($1.95 billion) in the fourth quarter. OMV said the adjustments would relate to its exploration and production segment, the fertiliser business of its subsidiary Borealis and fixed assets of Abu Dhabi National Oil Company’s refining unit, in which the group has a 15% stake. OMV will publish final fourth-quarter results including the adjustments, classified as special effects, on Feb. 3. According to a trading update from Thursda…

Read More