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The oil industry new path "for" low price market

The oil industry new path "for" low price market

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
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The oil industry new path "for" low price market

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
  • Views:
Information

In the past three years, the oil industry has already figured out some means of dealing with low oil prices, are currently showing new changes. Including resource governments stepped in, with the force of policy response to the low oil price; Oil companies through asset transactions to optimize the assets combination may be accelerated; The oil industry will spare no effort to pursue efficiency revolution and so on.

At the end of 2016, production of low oil prices to the organization of petroleum exporting countries (Opec) suddenly changed attitude, their agreement, some non-opec members also agreed to limit production. The news instantly trigger fluctuations in international oil market, the international oil prices to a long-term downward trend, a slight rebound and growth, make people seem to see oil recovery hopes. At the same time, however, the us election victory of the new President's popularity to its team of staff constantly release of fossil energy, to take measures to encourage fossil energy development, this approach seems to be betting against Opec.

In 2017, the President of the United States said to trump through tax cuts to encourage oil industry investment, to flourish in the industry. Once the oil and gas investment enthusiasm is aroused in the United States, the United States of oil and gas production in the short term might can return to the level before the drop in oil prices and the expected rebound in oil prices is not good news for investors and Opec. Based on this judgment, the possibility of oil prices rebounded sharply in 2017 should not, small rebound might have. Even a modest rebound, general or lower oil prices. In other words, the oil industry in the New Year, still need to be with low oil prices "race", is not necessarily "the chickens".

In the past 3 years period of low oil prices, oil industry out some response from the practice of low oil prices. Sing leading role of this period mainly enterprises, including many oil producers and oil companies, such as financial investment, more representative means mainly include salary cuts, cut, cut the budget of the investment, the application of new technologies and asset optimization combination, etc. These measures have obtained certain effect at the time of application of effort helped numerous oil and gas and service enterprises, and even individual companies throughout the downturn situation, due to buck the management breakthrough in weathered. Now, after 3 years of low oil prices continued, the oil industry has a certain degree of development of these coping mechanisms, forms and implementation are changing path. Specific performance in the following respects.

First is a resource governments stepped in, with force of policy response to lower oil prices. If the enterprise is the leading role at the beginning, then after a period of American, in the case of oil prices and impress, decline in response force, the government should come forward. In fact all the resources from 2016 countries showed that's true. In the face of low oil prices, are basically change their oil and gas resources countries fiscal and taxation policies. Didn't change the country, also is reviewing its policy system. Policy changes are mostly through legislation or the fiscal and taxation policy adjustment, and for domestic private enterprises or enterprises with foreign capital investment. Even the long-term adherence to the strict fiscal and taxation policy is part of the resource countries, at this time also started to consider change attitude towards foreign investment in domestic oil-gas industry, show the pluralistic investment through policy adjustment will, such as Brazil. If the oil price at the beginning of the company to deal with low oil prices rely mainly on internal force, now has the external force to help, that is the policy of resource countries. The oil companies and resource governments somewhat for fighting.

Followed by the oil industry body remained cautious style in the past, time don't forget to authors, but through asset trading company asset optimization combination of measures may be possible to speed up the implementation. If the oil company management thoughts of the past few years can be found that rein investment, fall in consciousness, not easily into unfamiliar fields, and strict management, production safety is a very common phenomenon during the period of low oil prices. Under the new situation, these measures will of course be transmission but long controversy. For example in the field of exploration, risky exploration project in the beginning of a drop in oil prices is generally not how unloved. But as the time continuity and oil reserves replacement rate, and the reserve-production ratio index decline, oil companies will have to exploration investment. In addition, compared with the traditional means of careful characteristics, oil companies in the New Year, in the aspect of asset optimization combination of strength is likely to increase. Low oil prices after coming, oil companies have intention to sell assets at the beginning, but considering the price and sell off assets losses, many companies choose to watch and wait. After a few years the company's cash flow pressure, oil companies sell assets will be increased, even at a loss of business may also consider to do it. With cash flow pressure, oil company assets sold in this period don't rule out the possibility that there are cheap and fine, for capital is relatively abundant companies which means opportunity to gain high quality assets in the market. As a result, 2017 capable of embodying the of the oil company asset optimization combination intentions may have arisen in the oil assets transaction activities, big deal may be more. Oil and gas market but is likely to change old dull, similar to the baker hughes GE m&a transaction may appear.

The oil industry spare no effort to pursue efficiency revolution again. Said oil companies during this period the pursuit of efficiency revolution is enough, because the current era is an era of gestates technology revolution. Various new technology, new technology on energy, energy revolution is coming events cast their shadows before them. For the oil industry, in this era full of opportunities and challenges. Opportunity is if you can make good use of these technologies, will fundamentally depend on cross-border integration resources to enhance the competitiveness of industry veteran; Threat is that if you can't make good use of these technologies, it is possible to speed up the pace of being eliminated by The Times, by the new energy and other renewable energy left behind. Over the past few years the oil industry can stick under the onslaught of low oil prices, largely because of authors of technological innovation, high and low oil prices in 2017 event probability under the efficiency of the oil industry will continue to maintain its inertia. Have to say is, the revival of the shale oil and gas industry will become the world's oil industry one of the important engine of technology innovation. In 2017, the United States energy New Deal under the stimulus of fossil energy recovery will limit production, oil and gas resources with Opec policy loose to form a close "race" for oil. Even if the latter to gain the upper hand slightly makes the rise in oil prices, rose also too won't big. Were previously mentioned, the oil industry to survive in oil prices are unlikely to rebound sharply situation will still be more difficult, so the oil industry practitioners to continue through the management and technology application quality, and the efficiency is still inevitable choice. Who can make a breakthrough in efficiency of ascension, who can in the competition, and quality, and the efficiency is the core of technological innovation. Once the oil industry is low oil prices depressed for a long time, the potential of technology innovation must be stimulated.

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