近年，盡管歐洲一些煉油廠已經(jīng)在削減產(chǎn)能，但亞洲和中東等地區(qū)大型煉油廠的建設(shè)浪潮抵消了歐洲產(chǎn)能的下降。煉油產(chǎn)能過(guò)剩以及西方經(jīng)濟(jì)體汽柴油需求疲弱，導(dǎo)致下游業(yè)務(wù)利潤(rùn)萎縮。
Squeezed margins in the global refining industry are hurting the world’s largest oil companies，as Royal Dutch Shell，Total and Exxon Mobil all blamed poor quarterly earnings on a decline in their downstream businesses.
全球煉油行業(yè)利潤(rùn)率受到擠壓，損及荷蘭皇家殼牌、道達(dá)爾和�？松梨诘仁澜缱畲蟮氖凸荆@些石油巨擘都將季度盈利不佳歸咎于下游業(yè)務(wù)的下降。(英國(guó)《金融時(shí)報(bào)》)
Royal Dutch Shell PLC (RDSA) Thursday reported a 31% decline in third-quarter profit largely because of weak refining margins and increased exploration-and-production expenses. Shell posted profit on a“current cost of supplies”basis——a figure that factors out the impact of inventories，making it equivalent to the net profit reported by U.S. oil companies——of $4.25 billion，down from $6.15 billion in the same period last year.
荷蘭皇家殼牌公司上周四宣布第三季度利潤(rùn)下跌31%，主要因?yàn)闊捰屠麧?rùn)率不佳以及勘探和生產(chǎn)費(fèi)用上升。殼牌公司是以當(dāng)前供應(yīng)成本為基礎(chǔ)報(bào)告其利潤(rùn)的，這一會(huì)計(jì)方法所得到的數(shù)字反映了庫(kù)存的影響，并使其與美國(guó)石油公司報(bào)告的凈利潤(rùn)相一致。用這種方法得到的利潤(rùn)額為42.5億美元，低于去年同期的61.5億美元。(美國(guó)《華爾街日?qǐng)?bào)》)
Oil and natural gas giant Exxon Mobil Corp. posted lower third-quarter GAAP net income attributable to the company of $7.87 billion，or $1.79 a share，versus last year’s $9.57 billion，or $2.09 a share.
油氣巨頭�？松梨诎l(fā)布了較低的按GAAP會(huì)計(jì)原則計(jì)算的第三季度凈利潤(rùn)，利潤(rùn)額為78.7億美元，合每股1.7美元。去年同期，其利潤(rùn)額為95.7億美元，合每股2.09美元。(納斯達(dá)克)
In the latest period，the company’s refining and marketing business reported operating earnings plunged 81% to $592 million，as weaker margins，primarily in its refining business，decreased profits by $2.4 billion.
在最近一個(gè)季度，�？松梨诘臒捰秃蜖I(yíng)銷(xiāo)業(yè)務(wù)運(yùn)營(yíng)利潤(rùn)大幅下降81%，為5.92億美元。煉油業(yè)務(wù)利潤(rùn)率低下為主因，造成企業(yè)利潤(rùn)下降24億美元。(美國(guó)《華爾街日?qǐng)?bào)》)
Like most of itspeers in the oil and gas industry，Total is grappling with depressed refiningmargins in Europe，as weak economic growth weighs on demand for oil products. “The refining environment in Europe remains very difficult;the overcapacities are still a major issue，”said Chief Financial Officer Patrick de la Chevardière.Refining margins in the third quarter dropped 79% from a year earlier，Totalsaid.
和油氣行業(yè)的大部分其他同行一樣，受經(jīng)濟(jì)增長(zhǎng)疲軟對(duì)石油產(chǎn)品需求的影響，道達(dá)爾公司也在努力應(yīng)對(duì)歐洲蕭條的煉油利潤(rùn)率。公司首席財(cái)務(wù)官Chevardière表示，歐洲的煉油環(huán)境仍然非常困難，產(chǎn)能過(guò)剩仍是主要的問(wèn)題。道達(dá)爾稱，第三季度煉油利潤(rùn)率比一年前下降了79%。(美國(guó)《華爾街日?qǐng)?bào)》)
The problem is most striking in Europe，despite refinery closures that have taken some 1.7m barrels a day of capacity out of the system since 2008. Figures from the International Energy Agency show European demand for refined products will average 13.5m b/d， almost 2m b/d less than in 2008.
產(chǎn)能過(guò)剩問(wèn)題在歐洲最為明顯。自2008年以來(lái)，一些煉油廠關(guān)閉將產(chǎn)能降低170萬(wàn)桶/日。但國(guó)際能源機(jī)構(gòu)數(shù)據(jù)顯示，歐洲對(duì)精煉產(chǎn)品的需求平均為1350萬(wàn)桶/日，幾乎比2008年減少了200萬(wàn)桶/日。(英國(guó)《金融時(shí)報(bào)》)
This weakening demand has coincided with the construction of a new wave of giant refineries in Asia and the Middle East that are putting pressure on older and less sophisticated plants in more mature markets. The IEA says global crude oil distillation capacity is set to rise from 86m b/d in 2005 to 101m b/d by 2017 once all the planned new capacity comes on stream.
在需求日益疲弱之際，亞洲和中東大型煉油廠建設(shè)浪潮對(duì)陳舊的、技術(shù)含量不高的成熟市場(chǎng)煉油廠構(gòu)成壓力。國(guó)際能源機(jī)構(gòu)表示，一旦所有計(jì)劃中的新增產(chǎn)能投產(chǎn)，原油蒸餾能力將從2005年的8600萬(wàn)桶/日提高到2017年的1.01億桶/日。(英國(guó)《金融時(shí)報(bào)》)
Some majors have responded by selling their European refineries，though in some cases they have struggled to find buyers. Others are shifting their focus to areas of higher demand growth and lower costs. Total，for example，has built a big new refinery in Jubail，Saudi Arabia，in a joint venture with the country，which shipped its first cargo last month.
一些主要企業(yè)以出售歐洲的煉油廠為應(yīng)對(duì)之策，盡管在某些情況下他們難以找到買(mǎi)家。還有一些企業(yè)則將注意力轉(zhuǎn)向需求增長(zhǎng)較高且成本較低的地區(qū)，比如，道達(dá)爾就在沙特阿拉伯的朱拜勒和該國(guó)合資建了一個(gè)新的煉油廠，上月已經(jīng)開(kāi)始運(yùn)送首批貨物。(英國(guó)《金融時(shí)報(bào)》)