OMV provides faint light in Yemen gloom
Austria's OMV, the first IOC to return to Yemen since the war started, has resumed limited exports
When the Saudi-led Arab coalition began air strikes on targets in Yemen in March 2015 and fighting on the ground intensified, all international oil companies suspended operations. OMV said it had to shut in all production facilities in early April that year and declare force majeure on all its blocks and open contracts. This was because of "a major deterioration of the security environment" and a sea blockade of ports that "prevented crude export". Earlier this year, OMV decided to return to the Habban field in Block S4 in Shabwa province. The company said the field hadn't been affected by the war. As a result, "comprehensive technical, commercial and security arrangements" were put in pla
Also in this section
3 April 2025
Gas use in India has seen significant growth over the past year and looks set to accelerate further, even if the government’s 2030 goal remains a stretch
3 April 2025
IOCs and Western lenders are reluctant to commit to new oil and gas projects in African frontier countries
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
