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维持资本纪律将推动油气行业的并购活动

   日期:2020-02-08     浏览:610    评论:0    

据油气新闻2月6消息称,2019年的交易活动主要围绕改善公司财务状况和减少债务的需要。领先的数据和分析公司GlobalData表示,这促使埃克森美孚、康菲石油和雪佛龙等跨国油气公司重新审视其全球业务,并开始剥离不盈利的业务。

GlobalData的石油和天然气分析师Ravindra Puranik表示:“在2014年至2017年的石油价格低迷期间,许多勘探和生产(E&P)公司能够从投资者那里获得约6至7年的再融资,以期价格回升。然而,油价上涨的幅度还不够大,运营商筹集的债务在未来两年即将到期。这在全球油气行业拉响了警报,并影响着交易活动。许多公司开始表现出对资金的谨慎,并拒绝进行轻率的收购。一个典型的例子就是雪佛龙,它没有与西方石油公司就阿纳达科石油公司展开竞购战。”

2019年,撤资成为全球几家油气公司的主要趋势。全年中,各公司专注于出售资产,以退出无利可图的业务或从市场上的弱势竞争地位退出。这可能会使企业专注于核心业务,并降低债务水平。

Puranik补充说:“最近,石油和天然气公司已经把重点放在更接近其传统基地的市场上。因此,我们可能会看到英国或欧洲运营商收购北海资产,或者美国公司和石油巨头瞄准独立的页岩钻探商。”

GlobalData的专题研究确定了油气行业内的此类公司,这些公司可能会在未来两年内将整个价值链上的部分或全部公司出售。

政府对环境的担忧和更严格的规范进一步限制了碳密集型产业在特定地理区域的经营。因此,在2019年,企业还宣布退出高碳排放或位于生态敏感地区的项目。

Puranik总结道:“石油和天然气巨头BP宣布将其在阿拉斯加的全部业务出售给Hilcorp能源公司,总价值56亿美元。该交易包括出售BP在阿拉斯加北坡普拉德霍湾油田的上游投资组合,以及该地区相关的中游资产。这项撤资可能有助于英国石油公司减少其全球业务的甲烷净排放量。”

曹海斌 摘译自 油气新闻

Emphasis>Deal activity in 2019 has largely revolved around the need to improve company finances and reduce debt. It drove multinational oil and gas companies, such as ExxonMobil, ConocoPhillips, and Chevron, to review their global operations and begin divesting non-profitable ventures, according to GlobalData, a leading data and analytics company.

Ravindra Puranik, Oil & Gas Analyst at GlobalData, comments: “During the oil price downturn of 2014–2017, many exploration and production (E&P) companies were able to receive refinancing from investors for about six to seven years amid hopes of price recovery. However, oil prices have not risen sufficiently enough while the debt raised by operators is nearing its repayment period in the next two years. This is raising alarms across the global oil and gas industry, and influencing deal activity. Many companies are starting to show capital prudence, and are resisting from making rash acquisitions. A classic example of this change of approach was Chevron, which stayed away from starting a bidding war with Occidental Petroleum over Anadarko Petroleum.”

Divestment appeared as prominent global trend among several oil and gas companies worldwide during 2019. Throughout the year, companies focused>Puranik adds: “Recently, oil and gas companies have focused>GlobalData's thematic research identifies such companies within the oil and gas industry that are likely to offer either a part or the entire company for sale in the coming two years across the value-chain.

Environmental concerns and stricter norms imposed by authorities are further restricting the carbon-intensive industry from operating in specific geographic areas. As a result, in 2019, companies also announced their exits from projects that generate high carbon emissions or are located in ecologically sensitive areas.

Puranik concludes: “Oil and gas giant BP announced to sell its entire business in Alaska to Hilcorp Energy for a total consideration of US$5.6bn. The deal included sale of BP's upstream portfolio of Prudhoe Bay oil fields in the Alaska North Slope and associated midstream assets in the region. This divestment is likely to help BP in reducing its net methane emissions from global operations.”

 
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