June 13 Reuters Austrian energy group OMV raised its 2030 earnings and cashflow 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 oneoff items as well as shortterm 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 by the end of 2027.

OMV said last month that gas supplies from Russia39;s Gazprom may be suspended in connection with a foreign court ruling, without identifying the case.

The Austrian group has also been in drawnout talks for almost a year over a planned 30 billion merger between its chemicals arm Borealis and Abu Dhabi National Oil Company39;s ADNOC Borogue.

1 0.9248 euros

Reporting by Ludwig Burger, Editing by Andrey Sychev

Source Reuters