Asset sales help OMV to avoid sharper profit drop - The National:
"Strong performances in refining and marketing have helped to boost second-quarter results of Austria's OMV and Hungary's MOL, two companies part-owned by UAE investors.
Oil and gas company OMV saw its underlying net income fall by 29 per cent to €321 million (Dh1.6m) in the three months to June.
OMV said it was hit by declining crude sales in Libya, the United Kingdom and New Zealand. Simultaneously, exploration expenses rose by more than two thirds to €98m because of write-offs in Tunisia and the UK, as well as increased seismic activity at its Norway operations."
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