OMV Reduces Investments Over Declining Oil Prices, Expects To Miss Production Target

01.29.2015 By Oana Gavrila

Austrian oil and gas group OMV, owner of Romania's OMV Petrom (SNP.RO), announced Thursday it will cut back on its planned investments for the interval 2015-2017 due to declining oil prices and will miss its production target set for 2016.

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