凯新能源
中文 | EN | العربية
kaixin
Homepage
/
News

News center

Check category

International oil giants are losing money, and domestic oil companies' fundamentals continue to improve

Thecrudeoilmarketinthefirsthalfof2020canbedescribedasthrilling.Thesharpdropincrudeoilpriceshasbecomearare"historicalevent"indecades.Coupledwiththeimpactoftheepidemic,theoilgiantshavehadahardtime.　　Recently,manymultinationaloilcompanieshavereleasedsemi-annualreports.Inadditiontothe“globaloilcompanyboss”SaudiAramco,thesixmajoroilgiantssuchasShell,BP,ExxonMobil,Total,ChevronandConocoPhillipshaveallsufferedhugelosses..Amongthem,BPandShellweretheworst,withlossesof21.213billionUSdollarsand18.155billionUSdollarsrespectively.　　Incomparison,duetotheearliereffectivecontrolofthedomesticepidemic,theresumptionofproductioninvariousindustrieshasenteredthefastlane,andoilcompanieshaveperformedbetterthaninternationaloilcompaniesinallaspects.mycountry'spetroleumandpetrochemicalcompanieshaveachievedpositivenetprofitgrowthinJune.　　"TherapidrecoveryofChina'sinternalpetrochemicalproductdemandandthedeclineinexternalrawmaterialcostshavesupportedtheperformanceofdomesticoilcompanies,andtheoperatingperformanceofdomesticoilcompaniesismuchbetterthanthatofoverseasoilcompanies."ZhongyuInformationanalystZhangYonghaotolda"SecuritiesDaily"reporter.　　Thecrudeoilmarketispickingup　　OnAugust19,theOPEC+PetroleumMinisterialMeetingwasheld.Themarketisexpectedtoreducetherateofproductioncuts,fromadailyreductionof9.7millionbarrelsto7.7millionbarrels.Atthesametime,thenumberofactivedrillingwellsintheUnitedStateshasdecreasedfor15consecutiveweeks,anditisexpectedthatUSshaleoilproductionwillcontinuetodecline.　　Infact,sinceJuly,theOPEC+productionreductionagreementimplementationratehasbeenaround97%,andoil-producingcountrieshavebeencuttingproductiontocontrolsupplyandreduceglobalinventories.　　JinlianchuangcrudeoilsenioranalystXiJiaruitoldtheSecuritiesDailyreporterthatinthefirsthalfoftheyear,theperformanceofthecrudeoilmarketundertheepidemicsituationwasextremelynegative.However,afterenteringthesecondhalfoftheyear,asthefundamentalseased,theglobalcrudeoilmarketgraduallyusheredinaroundofrecovery,andcrudeoilpriceswillalso"rising."　　Forthecrudeoilmarket,therearetwouncertainfactorsthatstillplaguethetrendofoilprices.Oneistherecoveryoftheglobalepidemic,andtheotheristheimplementationofproductioncutsinoil-producingcountries.　　InXiJiarui'sview,globalanti-epidemicprogresshasbeenmadeinstages,countriescontinuetoloosenthe"blockade",andimportanteconomicstimulusplanswillbefollowedup.Underthispremise,globalcrudeoildemandisexpectedtoincreasesteadily,supportingcrudeoilprices.Atthesametime,oil-producingcountriesareexpectedtocontinuetomaintaintheeffectivenessofproductioncuts.Aftermakingupfortheshareofproductioncuts,OPEC+willadjustthescaleofproductioncutstomaintainoilpricesbacktoarelativelyreasonableoperatingrangebasedonthesupplyanddemandofthecrudeoilmarket.　　ItisworthmentioningthatUScrudeoilproductionmayfurtherdecline.LowoilpriceshaveimpactedtheUSshaleoilindustrychain.ThebankruptcyofoilcompaniesandtheshutdownofoilwellsmakeitdifficultfortheUSoilindustrytorecoverintheshortterm.Thetotalglobalcrudeoilsupplywillcontinuetoshrinkinthesecondhalfoftheyear,sooilpricesareexpectedtoreboundfurther.　　AccordingtoEIAforecastdata,theglobalcrudeoilmarketwillreappearasupplygapinthesecondhalfof2020,anddemandgrowthsurpassingsupplygrowthisthemainreasonforthegap;thecrudeoilsupplygapinthethirdquarterwillgraduallyincrease,andthefourthquarterwillbemoderateShrinking,theaveragesupplygapinthesecondhalfoftheyearisabout3.13millionbarrelsperday.Basedonthis,internationaloilpricesinthesecondhalfoftheyearwillshowageneraltrendofmoderatelyfallingafterrising.　　XiJiaruibelievesthatalthoughthesecondhalfoftheyearisstillfullofmanyuncertainties,theoverallsituationofthecrudeoilmarketwillpickupcomparedwiththefirsthalfoftheyear.ItisexpectedthatthemainstreamoperatingrangeofWTIandBrentwillbe35USdollars/barrelinthesecondhalfoftheyear.To55USdollars/barreland38USdollars/barrelto60USdollars/barrel.　　TheZhongyuInformationCrudeOilResearchGroupjudgedthatoilpriceswillshowasteppedupwardtrendinthesecondhalfoftheyear,butthepriceceilingwillnotbetoohigh.ItisjudgedthattheabsolutepriceofBrentcrudeoilfutureswillbebelow55USdollarsperbarrel,andtheabsolutepriceofWTIcrudeoilfutureswillbe50NeartheUSdollar/barrel,Brent’s2020annualaveragevaluemaybeintherangeofUS$45/barreltoUS$49/barrel.　　Themostdifficultperiodforoilcompanieshaspassed　　InMarchthisyear,thesharpdropincrudeoilpricesmadethemarket"witnesshistory"again.Atthattime,OPEC'sproductioncutnegotiationscollapsed,andSaudiArabiatooktheleadinlaunchinganoil"pricewar",superimposingthenegativeimpactofdemandcausedbythespreadofthenewcrownpneumoniaepidemicaroundtheworld,oilpricesfellrapidly,andBrentoilpricesfellbelow$20.　　Thesharpdropininternationaloilpricesandtheimpactoftheepidemichavecausedtheoilgiantstocryinthefirsthalfofthisyear.　　Asofnow,thesixmajorinternationaloilgiantshaveallannouncedtheirsecond-quarterfinancialreports.Accordingtostatistics,thetotallossesofthesesixmultinationaloilcompaniesinthesecondquarteramountedto53.693billionU.S.dollars(about374.8billionyuan),andthetotallossinthefirsthalfoftheyearwas54
Click to see more
28
2020-08

Iraq's August oil exports fell below OPEC target

Time of issue: : 2020-08--28
ForeignnewsagencynewsonAugust27th,shippingdataandindustrynewsshowthatIraq’scrudeoilexportshavedecreasedsofarinAugust,indicatingthattheOrganizationofPetroleumExportingCountries(OPEC)’ssecondlargestoilproducerisfulfillingtheOPEC-ledagreementtocutmoresuppliesPromiseof.　　　　Petro-LogisticstrackingtankertransportationdatashowsthatasofAugust25,exportsfromsouthernIraqhavefallento2.63millionbarrelsperday.　　　　Thisisadecreaseof40,000barrelsperdaycomparedtothe2.67millionbarrelsperdayofficiallyannouncedinJuly.　　　　Asdemandbegantorecoverfromthenewcrownviruscrisis,OPECanditsallies(OPEC)cancelledarecordproductioncutplanfromAugust1.　　　　Afternotfullycomplyingwiththeagreementtoreduceproductioninthepreviousfewmonths,Iraqcontinuestocutproduction.　　　　Petro-LogisticsCEODanielGerbersaid:"Iraqisexpectedtoachievethemostcompliantmonthlylevelthisyear."　　　　"However,thecountrystillneedstotakealotofadditionalproductioncutstomakeupfortheoversupplyinthepreviousmonths."　　IraqstatedonAugust7thatitwouldreduceproductionby400,000barrelsperdayinAugustandSeptembertomakeupfortheoverproductioninthepreviousthreemonths.　　　　InpreviousOPECagreements,IraqwassometimesthememberofOPECwiththelowestcompliance.　　　　ThesouthisthemainexporterofIraq’scrudeoil.Accordingtotankerdataandindustrynews,oilexportsfromthenorthofthecountryfellslightlytoabout400,000barrelsperdayinAugust.　　　　Overall,accordingtotheaverageofallestimatessofar,Iraq’soilexportshavefallenby80,000barrelsperdayasofAugust25.　　AninvestigationfoundthatinJuly,Iraqhadcompleteda73%reductioninproduction.Accordingtocalculations,duetothegradualdecreaseintrade,theimplementationrateofIraq’sAugustproductioncuthasrisento106%.
kaixin kaixin
28
2020-08

PetroChina's production and operation run smoothly in the first half of 2020

Time of issue: : 2020-08--28
OnAugust27,2020,ChinaNationalPetroleumCorporation[hereinafterreferredtoasthe"Company",(HongKongStockExchangestockcode:0857;NewYorkStockExchangedepositarystockcode:PTR;ShanghaiStockExchangestockcode:601857)]announcedInthefirsthalfof2020,inthefaceofthesevereshrinkingdemandforoilandgasandchemicalproductscausedbythenewcrownpneumoniaepidemic,andthesharpdropininternationaloilprices,thecompanycoordinatedandpromotedepidemicpreventionandcontrol,resumptionofproduction,productionandoperation,andreformanddevelopment.Vigorouslypromotetheimprovementofqualityandefficiency,strictlycontrolcostsandcapitalexpenditures,andstrivetoreducethelossescausedbytheepidemicandlowoilprices,andmaintaintheoverallsmoothoperationoftheoilandgasindustrychain.InterimperformancereviewFullypromotetheimprovementofqualityandefficiency,andtheoverallfinancialsituationisstable.AccordingtoInternationalFinancialReportingStandards,inthefirsthalfof2020,thecompanyachievedoperatingincomeof929.045billionyuan(RMB,thesamebelow),ayear-on-yeardecreaseof22.3%;anetlossattributabletoshareholdersoftheparentcompanywas29.983billionyuan,ofwhichthesecondquarterlosswascomparedtothefirstquarter.Thebusinesstrendissteadilyimproving.Theexplorationandproductionsegmentachievedanoperatingprofitof10.351billionyuan;therefiningandchemicalsegmentachievedanoperatinglossof10.54billionyuan,ofwhichtherefiningbusinesslost13.644billionyuan,andthechemicalbusinessachievedanoperatingprofitof3.104billionyuan;thesalessegmentachievedanoperatinglossof12.892billionyuan;thenaturalgasandpipelinesegmentRealizedoperatingprofitof14.372billionyuan.Thecompanystrictlycontrolsexpensesandcapitalexpenditures,anditsfinancialstatusisgenerallystable.Inthefirsthalfof2020,capitalexpenditureswere74.761billionyuan,ayear-on-yeardecreaseof11.0%.Capitalexpendituresforthewholeyearof2020areexpectedtobe228.50billionyuan,adecreaseof23.0%from2019's296.776billionyuan.Theboardofdirectorstookoverallconsiderationofoperatingperformance,financialstatus,cashflow,expectedincomefrompipelinereorganizationandotherfactors,anddecidedtodistributeaninterimdividendof0.08742yuanpersharefor2020,withatotaldividendof16.00billionyuaninreturnforshareholders.Highlightthescale-efficientexplorationandeffectivelycontrolthecost.Thecompanycontinuestostrengthenthethree-in-onemanagementofinvestment,reservesandcosts,strivestocontrolandreduceinvestment,strictlycontroloperatingcosts,andincreasereservesthroughefficiency.Inthefirsthalfoftheyear,thecompanyoptimizeditsexplorationdeployment,andmadeimportantdiscoveriesandprogressindomesticriskexplorationandconcentratedexploration.TheTarimManshen1wellobtainedhigh-yieldoilandgasflow,achievingamajorbreakthroughinultra-deepoilandgasexplorationinthecentralbasin;SichuanPengtan1,Tarimroundexploration1,AbatchofriskexplorationwellssuchasShatan2inJunggarhaveachievednewbreakthroughsandopenedupnewareasofoilandgasexploration.Theoverseasoilandgasbusinessmadesteadyprogress,andtheriskexplorationoftheChadprojectandtherollingexplorationoftheKazakhstanPKprojectmadenewbreakthroughsandnewprogress.Atthesametime,continuetodoagoodjobinthemanagementofexistingprojectsintheMiddleEast,CentralAsia,America,Asia-Pacificandothercooperationzonestoensurehigh-qualityandefficientdevelopment.Inthefirsthalfoftheyear,thecompanyachieved475millionbarrelsofcrudeoilproduction,ayear-on-yearincreaseof5.2%;marketablenaturalgasproductionwas2.15trillioncubicfeet,ayear-on-yearincreaseof9.4%;andoilandgasequivalentproductionwas834millionbarrels,ayear-on-yearincreaseof7.0%.Thecompanycontinuedtostrengthenitscostcontrol.OilandgasoperatingcostsinthefirsthalfoftheyearwereUS$9.64perbarrel,ayear-on-yeardecreaseof14.0%.Resolutelyimplementoilreductionandincrease,andstrivetoincreaseproductionofhigh-efficiencyproducts.Thecompany’srefiningandchemicalbusinessactivelyrespondedtotheunfavorablesituationofdecliningmarketdemandandreducedequipmentload,optimizingproductionandoperation,market-oriented,optimizingtheallocationofcrudeoilresources,timelyadjustingtheprocessingload,andvigorouslyreducingandincreasingoil;continuouslyoptimizingproductstructureandflexibilityAdjustthediesel-gasratio,strivetoincreasetheproductionofhigh-efficiencyproducts,andincreasethedirectsalesrateofchemicalproducts;orderlypromotetheconstructionofkeyprojectssuchastheintegrationofGuangdongpetrochemicalrefining,TarimandChangqingethanetoethylene.Inthefirsthalfof2020,thecompanyprocessed568millionbarrelsofcrudeoil,down4.9%year-on-year;produced52.085milliontonsofrefinedoil,down8.2%year-on-year.Theoutputofchemicalproductswas13.847milliontons,anincreaseof9.5%year-on-year;theoutputofethyleneincreasedby4.0%year-on-year;theoutputofsyntheticresinandsyntheticrubberincreasedby3.7%and4.7%respectively.Makeeveryefforttostrengthenfinemarketingandimprovethevaluechainefficiency.Thecompanyactivelyrespondedtotheseveresituationofshrinkingconsumptionintherefinedoilmarketandhighinventories,madeeveryefforttostrengthentheconnectionbetweenproductionandsales,activelyseizedthefavorableopportunitiesforresumptionofproductionandspringplou
kaixin kaixin
28
2020-08

PetroChina: The average price of Brent crude oil is expected to be US$41-43/barrel in 2020

Time of issue: : 2020-08--28
PetroChina:Inthesecondhalfoftheyear,theinternationalcrudeoilmarketisexpectedtostillhaveexcessdemand,andthereboundinoilpricesisstillfacinggreatuncertainty.　　PetroChina:TheaveragepriceofBrentcrudeoilin2020isexpectedtobe41-43USdollars/barrel.
kaixin kaixin
Previous page
1

底部

Time of issue:2019-12-04 00:00:00

Service Hotline

+860427-7820682

Message

Add：No. 35, Research Community, Revitalization District, Xinglongtai District, Panjin City
 
kaixin

Copyright © Panjin Kaixin Energy Science & Technology Ltd.  Powered by： 300.cn jinzhou.300.cn   辽ICP备15013651号-1