OMV postpones to 2019 the decision to invest in offshore operations in the Black Sea, blames late adoption of Offshore Law

OMV, one of the Black Sea oil blocks concessionaires, alongside ExxonMobil and Lukoil, has announced that it will decide whether or not to invest in offshore operations in the Black Sea in 2019. According to CEO Rainer Seele, the delay was caused by the late adoption of the Offshore Law. We cannot make the decision to invest in Petrom (part of the OMV Group) this quarter, as we have planned, Rainer Seele said, according to Reuters, quoted by ...

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