OMV raises 2030 guidance on favorable energy markets

By Ludwig Burger

(Reuters) -Austrian energy group OMV raised its 2030 earnings and cash-flow guidance during its capital markets day on Thursday, citing a more favorable market environment for oil, natural gas and refining margins.

OMV is now targeting a clean CCS operating result, which excludes one-off items as well as short-term energy inventory holding gains and losses, of at least 6.5 billion euros ($7.03 billion) by 2030, compared to a goal of 6 billion euros previously.

It also raised its forecast for operating cash flow to at least 7.5 billion euros, up from 7 billion euros previously, partly helped by an efficiency push that will bring at least 500 million euros until the end of 2027.

OMV said last month that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case. CEO Alfred Stern on Thursday would not disclose the company.

The Austrian group has also been in drawn-out talks for almost a year over a planned $30 billion merger between its chemicals arm Borealis and Abu Dhabi National Oil Company's (ADNOC) Borogue.

CEO Stern said talks would continue, saying there was no deadline to bring negotiations to a conclusion.

($1 = 0.9248 euros)

(Reporting by Ludwig Burger in Frankfurt, Ron Bousso in London Editing by Andrey Sychev and Tomasz Janowski)