OMV 1Q Oil Sales Took a Hit From Libya Unrest

   By Nathan Allen

OMV AG (OMV.VI) said Wednesday that it wasn't able to take any crude deliveries from its Libyan operations in the first quarter of 2019, dragging down upstream sales volumes.

The Austrian energy company's first-quarter hydrocarbon sales dropped to 38.4 million barrels of oil equivalent from 38.5 million barrels of oil equivalent a year earlier, the company said. Still, overall production ticked up to 474,000 barrels a day from 437,000 barrels a day, the company said.

OMV said it didn't lift any crude from the Murzuq and Sirte basins in the first three months of the year, though production resumed at Sharara, Libya's largest oil field, in March.

Production had been interrupted at Sharara since December after the Libyan National Army--a militia led by Khalifa Haftar whose forces control the east of the country--took control of the field.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 10, 2019 03:10 ET (07:10 GMT)

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