EUROPEAN ENERGY MARKET DEVELOPMENTS. OMV AUSTRIA CASE

The evolution of the energy market in Europe was influenced by the unprecedented development of the economy in 2007 and by the evolution of oil prices. From the analyses carried out in the energy field, we found that although American economy slowed down after September 11, 2001, the war in Iraq and then the other local conflicts in the Middle East forced an increase in oil consumption which led to an increase in the barrel price, which reached a level USD 145/barrel with the outbreak of the financial crisis. Against the background of the banking crisis and the sovereign debt crisis, the growth rate of the world economy has slowed down and the oil price has stabilized today at a level of 45-55 USD/barrel. Present in Romania through Petrom, OMV Austria is a multinational company whose main activity are exploration, production and marketing of oil and gas, petroleum refining and electricity generation. In this paper, we will assess the financial situation of the company on the European energy market into three periods: before, during and post-financial crisis, taking into account assets, liabilities, equity, performance indicators and market indicators.