Libya Disruption hits OMV’s Profit

May 8, 2019

Operating profit at Austria’s OMV fell 7 percent in the first quarter as the company was unable to lift oil from Libya.

In a statement, the company said:

“The negative operational performance to the amount of EUR (56) million was mainly caused by the missing sales contribution from Libya in Q1/19 that had a negative effect of EUR (144) million compared to Q1/18.”