中国石化新闻网讯 据道琼斯11月4日消息,摩根大通表示,受助于供应链成本紧缩以及在提高效率和技术创新方面作出的努力,2020年前欧洲石油巨头应该能够将它们的上游资本支出减少约20%。摩根大通在一份报告中指出:“尽管未来几年油价很有可能仍窄幅振荡,但是我们建模得出的结论是现金回报长期的增长是受到资本效率改善和产量增长所驱动。”但是该行警告道,可能需要多年的时间才能恢复至历史平均回报水平。
唐绍红摘译自道琼斯
原文如下:
Cost Deflation, Efficiencies Should Help Big Oil Trim Upstream Capex
Europe's biggest oil companies should be able to reduce their upstream capital spending by around 20% by the end of the decade, helped by cost deflation in the supply chain and efforts to improve efficiency and technical innovation, says JP Morgan. "Despite oil prices being likely range-bound over the next few years, we model a period of secular growth in cash returns led by an improvement in capital efficiency and production growth," the bank says in a note. But it warns that "it will be a multi-year process to return to historical return levels."