OMV to sell operations in Croatia, Bosnia

epa01013024 (FILE) A file picture dated 06 March 2007 shows Austrian energy company OMV's logo at the company's headquarters in Vienna. The United States are determined to keep up pressure against the Austrian energy company OMV over a planned multi-million gas deal with Iran, media reported on 19 May 2007.  EPA/ROBERT JAEGER

Up for grabs: OMV seeks to offload refining and retail businesses in shift upstream

Austria’s OMV has announced that is operations in Croatia and Bosnia-Herzegovina are up for sale as part of its efforts to refocus on upstream activities.

The company expects discussions on a potential sale for downstream subsidiaries OMV Hrvatska and OMV BH to start within the next few months, it said in a statement on Tuesday.

OMV says it aims to “sharpen up and simplify the company portfolio...by gradually shifting away from refining and marketing towards exploration and production and gas and power”.

The company owns around 90 filling stations in both countries, with almost 100 employees in the two head offices. The player said it expects the businesses to be sold as going concerns.

OMV's Turkish arm has already…

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