A slowdown in Libyan output, coupled with declining oil prices, means it’s time to review the pace of investments, the head Austria’s OMV said Thursday. The oil and gas company said it would focus more on exploration and production moving forward, while streamlining some of its refinery operations. The decline in oil prices, in addition to less-than-ideal production growth from Libya, gave Chief Executive Officer Gerhard Roiss something to consider . “In order to reflect a more challenging operating environment, especially the softness in the oil price together with the unpredictability of our Libyan production, which is adversely impacting the Group’s cash flow, we have decided to review the pace of our investment program for the next two to three years,” he said in a statement. […]