Austrian energy giant OMV is mulling exiting its gas station business in Bulgaria and several other countries in Central and Eastern Europe, a report says.

The Austrian oil and gas group is considering selling its refineries and gas stations in order to use the revenues to boost its more profitable natural gas production unit, according to Czech TV station CT24.

The CEE countries in question are Bulgaria, the Czech Republic, Hungary, Slovakia, and Bosnia and Herzegovina.

The report comes after last month OMV said it wants to divest EUR 1 B worth of refining and marketing assets by 2014 to allow it to focus on its more profitable exploration and production business.

An OMV spokesman has not commented directly on the reports but has confirmed that OMV has decided to screen its refining and marketing portfolio for optimization. The Austrian company, however, has not made a final decision on the way it would divest from its refineries and gas stations.

OMV's gas station network in the Czech Republic alone is estimated at almost EUR 200 M.

OMV Bulgaria is one of only seven Bulgarian companies that made it to the 2011 CEE Top 500 list, i.e. the 500 largest companies in Central and Eastern Europe, compiled by audit consultancy Deloitte.

OMV Bulgaria is fourth among the seven largest Bulgarian companies in the ranking, ranked 221st in CEE, jumping 43 spots in a year.

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