VIE:OMV climbed after UBS flagged stronger European refining margins from Middle East repairs and Russian outages could boost Q2 results, while OMV AG also deepens its green pivot by partnering with Energie Steiermark to develop the Petersdorf 2 geothermal project targeting up to 670 GWh/year by 2037.
Previous Week Recap
- Omv Rises On Higher European Refining Margins: OMV (OMV) rose 2.5% to €56.20 after UBS said higher European refining margins—driven by Middle East refinery repairs/restarts, wider crude spreads and Russian outages—should boost OMV in Q2.
- OMV Partners On Geothermal Project: OMV AG partners with Energie Steiermark to develop Petersdorf 2 geothermal well near Graz; aims for up to 670 GWh/year by 2037, drilling from Q4 2026, heat possible from 2030
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