China's three big state-controlled listed oil company, China petroleum and natural gas co., LTD., China petroleum and chemical co., LTD. And China national offshore oil co., LTD., "released" 2015 annual report are in recently.
According to international financial reporting standards, 2015 years of oil net profit of 35.5 billion yuan, fell by 66.9%; Sinopec's net profit of 32.4 billion yuan, fell 30% year on year; Focus on the upstream oil and gas development and production of cnooc co., LTD., a net profit of 20.25 billion yuan, down 66.4% year-on-year.
"Three barrels of oil" in "cold winter"
Oil in net profit for the first time since the a-share listed below 100 billion yuan, sinopec's net profit lowest since 2009, cnooc co., LTD in recent 10 years minimum net... Analysts pointed out that the international crude oil prices fell sharply and pressure on economic growth, is last year the main factors influencing the profit "three barrels of oil".
Influenced by the international crude oil prices fell sharply, "three barrels of oil exploration and production business income has fallen dramatically. Among them, the petroleum exploration and production sector operating profits plunged more than eighty percent over the previous year, sinopec exploration and development sector losses of 17.4 billion yuan. But for the processing of crude oil nearly eighty percent comes from imported crude oil of sinopec, means that the international oil price will drop considerably as a decline in the cost of crude oil processing. Sinopec oil refining plate to profit last year, and become the main growth point of profit.
From major multinational oil companies last year, BP group and the biggest loss in 20 years, shell's profits plunged nearly 80% low for 13 years, exxon mobil, profits fell 58% in the fourth quarter last year, for nearly 10 years minimum quarterly profits.
In the face of a sharp drop in international oil prices and profits, the global oil companies generally reduce capital spending, "three barrels of oil" is no exception. According to the annual report, petrochina capital spending about $202.2 billion last year, falling by more than 30%, capital spending this year will continue to drop to 192 billion yuan. Cnooc co., LTD., the 2016 budget capital spending will be less than 60 billion yuan, and 2014 is 107 billion yuan, is 66.5 billion yuan in 2015. 2015 years petrochemical capital spending is about 112.2 billion yuan, compared with 27.4% reduction. Capital spending will further decline 10.6% this year.
"Lower investment will affect the resources and capacity to succeed in the future." China university of petroleum, director of the center for China's oil and gas industry development Dong Xiu said.
Resources are the basis for the development of oil and gas companies, China petroleum's far already amounted to 60%. From the annual report, capital expenditure this year focused on three big oil companies are leaning to the upstream exploration and development.
Benefit is the core concept
Earlier this year, sinopec shengli oilfield for the first time in 50 years to shut down the subordinate four small fields, cnooc co., LTD., cut its 2016 output target. And as early as 2015, petrochina daqing oilfield production started the project.
"This trend is expected to continue." Dong Xiu said: "this sends a signal that the state-owned oil company, be sure to keep the production growth, production as the core, rather than to benefit as the core concept is broken."
"The high oil price covers many deep-seated contradictions and problems." Dong Xiu, Lin for three big oil companies, investment and cost control, the key point of focus in the future.
According to the annual report, 2015 years of oil at $12.98 a barrel of oil and gas operation cost, fell 5.7% year on year; Cnooc co., LTD., the barrel of oil cost was reduced by 5.9%, the operating cost of $9.55 a barrel of oil equivalent, plunged 21.8%. Unit of sinopec oil and gas cash operating costs $17.62 a barrel, down 4.3% year-on-year.
Says wang yilin, chairman of petrochina, the company is not blindly reduce capital expenditure, in the process of production operation, pay more attention to the efficiency principle, and with a special focus on optimization of the project. Cnooc co., LTD., said this year will continue to maintain prudent financial policies, authors efficiency through technical innovation and management innovation.
Oil shares the company's employees, according to the annual report 2015 years cost is 118.1 billion yuan, down 2.3% year-on-year. Main management personnel pay 14.132 million yuan to 13.171 million yuan from 2014. Sinopec staff cost is 56.3 billion yuan, down 1.6% year-on-year.
Theme reform become the future development
Deepening the reform of state-owned enterprises and to promote the reform of system of oil and gas, means that the reform will be the future for a period of time the theme of China's oil and gas industry.
Last year, petrochina pipeline assets for the integration. Petrochina in the annual report says, through consolidation, to straighten out the equity relationship between the various pipelines operating company, establish a unified pipeline asset management operations and investment and financing platform. In the industry point of view, this heralds the system reform of oil and gas in one direction in the future.
Xiu-cheng dong believed that oil and gas system reform is an inevitable trend. From upstream, the right of exploration and mining of moderate open inevitable; Middle pipeline integration or for long-term trends; As let go of the right to use and trade of crude oil, oil refining and sales market will be more competitive. "For the state-owned oil company, in the face of the future competitive market pattern, reform the internal highly centralized management pattern, more in the face of the market has become inevitable."
In 2015, the "three barrels of oil", the parent company are welcomed in handsome, wang yilin, yu-pu wang and Yang hua respectively take over China national petroleum corporation, China petrochemical corporation and China national offshore oil corporation chairman. ', a professor at the university of xiamen, waiting for the national oil and gas is expected to clear after the reform, "three barrels of oil" in the future development strategy and direction of the reform will be further clear.