Rainer Seele

The industry might need to prepare for consolidation. The M&A market might return to a more healthy mode as assets become more reasonably priced.

There are signals from our consuming markets that our industry should prepare for slower GDP growth. And hence it will translate into tougher days.

And it will continue in 2020. by Rainer Seele

And it will continue in 2020.

I see some predictions that U.S. oil production growth may halve... by Rainer Seele

I see some predictions that U.S. oil production growth may halve soon.

It is not yet clear which concrete sanctions the U.S. will impose. But I expect the price of North Sea Brent to be closer to $80 than $70 a barrel.

This Memorandum of Understanding is an important first step in resuming OMV's activities in Iran and in the long-term cooperation with the NIOC, we look forward to evaluating the opportunities of OMV in Iran and the cooperation with NIOC to evaluate whether there are areas of potential cooperation in the exploration and development of oil and gas.