02.02.2023, 20:46
OMV has written off assets in Russia by 2.5 billion euros
Source: OREANDA-NEWS
OREANDA-NEWS In 2022, the Austrian oil and gas company OMV wrote off 2.5 billion euros ($ 2.7 billion) of Russian assets, said the head of the company, Alfred Stern. His words are transmitted by TASS.
The reason for this decision was the conflict in Ukraine, Stern said. Assets related to Russia are written off from the balance sheet as unable to generate income in the future.
After the outbreak of hostilities in Ukraine, OMV announced the rejection of new investments in Russian projects. In April last year, a foreign company reported a write-off of assets in the first quarter in the amount of almost two billion euros ($2.18 billion), including due to the loss of revenue from the Nord Stream-2 project.
Also, the German Juniper and Wintershall Dea, which invested money in the project, wrote off about $ 2.7 billion and about 1.5 billion, respectively. After exiting assets in Russia, the American ExxonMobil also lost 4.6 billion dollars before taxation and the French TotalEnergies lost 7.6 billion dollars.
The reason for this decision was the conflict in Ukraine, Stern said. Assets related to Russia are written off from the balance sheet as unable to generate income in the future.
After the outbreak of hostilities in Ukraine, OMV announced the rejection of new investments in Russian projects. In April last year, a foreign company reported a write-off of assets in the first quarter in the amount of almost two billion euros ($2.18 billion), including due to the loss of revenue from the Nord Stream-2 project.
Also, the German Juniper and Wintershall Dea, which invested money in the project, wrote off about $ 2.7 billion and about 1.5 billion, respectively. After exiting assets in Russia, the American ExxonMobil also lost 4.6 billion dollars before taxation and the French TotalEnergies lost 7.6 billion dollars.
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