国际石油公司应对“疫情+低油价”的主要措施及启示

Main measures of international oil companies to deal with “pandemic situation + low oil price” and its enlightenments

2020年,受新冠肺炎疫情及低油价双重冲击,世界能源市场液体燃料消费萎缩,供需不平衡加剧;原油价格下跌,油气生产承压,非常规油气生产大幅减少。五大国际石油公司原油产量小幅下降,天然气产量降幅显著;炼油业务与销售业务大幅下降;经营业绩大幅下滑,呈现全面亏损局面。为维持现金流,五大国际石油公司通过调整产量目标、推迟项目决策、裁减人员等措施多维度控制支出;同时出售非核心资产,以及借助金融市场进行融资。中国石油企业海外业务可借鉴上述措施,有针对性地削减支出和推迟投资,探索建立海外油气并购基金,寻求海外资产整合,形成规模效应,并重点加强海外天然气业务一体化整合发展,提升海外业务整体抗风险能力。

Due to the dual impacts of the pandemic and the low oil price,the consumption of liquid fuels in the world energy market has shrunk and the imbalance between supply and demand has worsened in 2020.Oil and gas production was under pressure and unconventional oil and gas production sharply reduced as crude prices fall.Crude oil production of five major international oil companies declined slightly,while natural gas production declined significantly.Refining and sales fell sharply and the operating performance of international oil companies declined significantly resulting in a comprehensive loss situation.The companies have adopted such measures as adjusting production targets,controlling capital expenditure by delaying project decisions and cutting workforce to maintain cash flow,and also sold non-core assets and tapped financial markets for financing.China oil enterprises’overseas business can draw such lessons from these measures as cutting spending and delaying investment,forming the scale effect by building overseas oil and gas M&A funding and taking overseas assets integration,strengthening the integration development of overseas natural gas business to improve the overall risk resisting ability of overseas business.