VIENNA (Reuters) – Private equity giant Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) made a surprise foray into Europe’s struggling refining sector by teaming up with Swiss trading house Vitol VITOLV.UL to co-own refining, storage and distribution assets in Switzerland and Germany.
Carlyle, which has $185 billion globally under management, and Vitol, the world’s largest oil trader, launched on Thursday a 50/50 venture Varo Energy, which bought 45 percent in Germany’s 260,000 barrels per day Bayernoil refinery from Austrian group OMV (OMVV.VI: Quote, Profile, Research, Stock Buzz).
VIENNA (Reuters) – A core of six Eurosceptic parties is aiming to win over another four right-wing parties to create a new political group in the EU parliament, the leader of Austria’s Freedom Party said.
In the run up to May’s EU-wide elections to the parliament, momentum is building to create a grouping of nationalist parties which would entitle members to more office space and support staff as well as EU funds for meetings and publicity.
VIENNA, Dec 12 (Reuters) – The coalition accord struck by
Austria’s two big parties on Thursday calls for increasing a
bank levy surcharge that the country imposed last year, two
sources familiar with the agreement said.
Austria launched a special bank levy in 2011 to help recoup
costs of propping up the sector during the financial crisis. The
underlying levy, originally supposed to last until 2017, raises
around 500 million euros ($690 million) a year.
VIENNA (Reuters) – Austria’s mainstream pro-Europe parties agreed on Thursday to govern in coalition for the next five years, promising to ensure continued prosperity in the Alpine euro zone nation.
The Social Democrats (SPO) and conservative People’s Party (OVP) had promised a new, progressive approach to politics after September elections in which voters tired of party paralysis punished them and bolstered the far right.
VIENNA, Dec 11 (Reuters) – Energy group Verbund
needs more time to decide the future of its struggling gas-fired
power plants, which it had hoped to resolve by the end of the
year, it said on Wednesday.
Verbund is battling a difficult environment for gas power
plants in Europe, where demand is low due to a weak economic
climate, while competing renewable energy sources are being
heavily subsidised in neighbouring Germany, the continent’s
VIENNA (Reuters) – Six Austrian banks will hold up well in European stress tests next year that are designed to gauge whether the region’s banks can withstand tough market conditions, the Austrian National Bank (OeNB) said on Wednesday.
OeNB Governor Ewald Nowotny gave an upbeat view of how domestic banks would fare in the stress tests that aim to reassure investors about the resilience of 128 big euro zone banks in the wake of the financial crisis.
VIENNA/TRIPOLI, Dec 4 (Reuters) – Libya hopes on Dec. 10 to
reopen all its oil ports blocked by protesters over political
and financial demands and resume full production about a week
later, Oil Minister Abdelbari al-Arusi said on Wednesday.
A mix of militias, tribesmen and minorities demanding a
greater share of Libya’s oil wealth and more political power
have shut most oilfields and ports, cutting oil output to
224,000 barrels a day from 1.4 million bpd in July.
VIENNA, Dec 4 (Reuters) – Libya hopes to reopen all its oil
ports on December 10 and resume full production about a week
later after the Libyan army threatened to use force against
Libyan Oil Minister Abdelbari al-Arusi told reporters at an
OPEC meeting he was “optimistic” that pressure on protesters to
allow the resumption of production would see Libyan oil output
restored to 1.5 million barrels a day.
New York Rabbi Marc Schneier won a small but significant victory on a recent visit to Vienna – a promise from the head of Austria’s Islamic community to promote Holocaust education among the country’s half a million Muslims.
VIENNA (Reuters) – The Viennese museum that houses one of Gustav Klimt’s greatest artworks says it has evidence that its previous Jewish owner sold it to the Austrian state in an amicable transaction, rather than too cheaply under duress.
The Secession museum is defending itself against a claim from some of the heirs of art collector Erich Lederer, who sold the monumental 1902 Beethoven Frieze to the state for $750,000 in 1973.