AFP reported that Austrian oil and gas giant OMV unrest in North Africa and the Arab peninsula led to an overall drop in its oil production in the Q2 of the year.

Oil and gas production fell by 14% to 275,000 barrels of oil equivalent per day in April to June from 318,000 barrels of oil equivalent per day in the same period last year. This was mainly due to the ongoing political instability in Libya and Yemen.

OMV said that oil production alone fell by 39,400 barrels per day from the second quarter of 2010. A pipeline was damaged in the Q1 in the political unrest in Yemen but has now been repaired although OMV warned that resuming production may still take a while. The company's final statement will come out on August 10th 2011.

(Sourced from AFP)