The Austrian oil, gas and chemicals group OMV has once again made billions in profits due to the sharp rise in energy prices. In particular, the oil and gas exploration and production business and the refineries did well in the third quarter. Only in the chemicals business did OMV post declines. In the first nine months, the group’s operating profit totaled 9.1 billion euros, which is more than double. OMV thus joins the big oil companies such as Shell or Total Energies, which are making billions in profits in view of the explosion in oil and gas prices. A trend reversal is not in sight.
Energy Prices – Oil Company OMV Profits – Economy
