ÖBAG: New OMV strategy presents fundamental shift towards circular economy and decarbonisation

With the strategy OMV presented today, the company highlighted its new course towards a circular economy, with a compelling roadmap leading to net zero by 2050. The gradual phasing out of oil ¬– and subsequently also gas – is a key element of the strategy to meet the requirements society is demanding of energy companies today.

Given current geopolitical developments, supply security is crucial and also underlines the enormous responsibility OMV is shouldering on behalf of Austria.

“The transformation of OMV will be a key steppingstone along the way towards reaching the climate goals Austria has set itself. Being an investor with a long-term horizon, ÖBAG is fully up to the task of providing support along the way,” explained Edith Hlawati, CEO of ÖBAG, commenting on today’s strategy presentation:

As a public holding company, ÖBAG will not only assist OMV’s management in implementing this strategy, but is also positive that the capital market will find this transformation beneficial and value-enhancing in the long run.