石油圈中國石化新聞網訊 據路透社倫敦報道，全球最大的石油交易商之一摩科瑞表示，隨著利率的上升和油價的上漲，全球能源交易業務將迎來一波新的整合浪潮。 摩科瑞首席執行官Marco Dunand在全球大宗商品峰會上表示：“整個行業規模過大。在交易領域，如果你看看過去幾年的典型情況，你會發現股票的回報率是多少，也沒有那么糟糕了。但如果你看利潤與營業額的比較，就會發現它是非常小的。該行業的凈利潤率通常在1%以下，在貧困年代接近0.5%，這幾乎沒有留下任何出錯的余地。與營業額相比，凈利潤率可能是市場上最低的，我們認為，行業內部應該進行整合?！?近年來，摩科瑞通過收購競爭對手的業務，而得到迅速增長，如摩根大通部分業務（各銀行退出大宗商品交易）以及陷入困境的競爭對手來寶集團(Noble Group)的部分業務。 Dunand表示，推動整合的另一個因素可能是油價上漲，需要更多的流動資金來為交易業務提供資金，以及全球利率的上升。 Dunand表示，摩科瑞仍在尋找進入LNG市場的機會，在這個市場上，它的競爭對手如貢沃集團和托克集團已經在流動性日益增強的市場上占據了很大的份額。 該公司試圖在今年早些時候獲得LNG的敞口，當時該公司是海港能源公司收購澳大利亞天然氣生產商桑托斯的失敗競標的一部分。 這家總部位于瑞士的公司報告稱，其2017年的毛利潤為6.74億美元，低于2016年的7.16億美元，而原油和精煉產品交易量從1.05億噸上升到1.21億噸。 Dunand說，該公司交易量在2018年會略有上升，其中天然氣、電力、煤炭和金屬交易將占50%以上，而石油和產品交易業務比例將低于50%。 詹曉晶摘自路透社 原文如下： Mercuria predicts new wave of consolidation in global oil trading Global energy trading businesses are set for a new wave of consolidation as rising interest rates and high oil prices compress already thin profit margins, said Mercuria, one of the world’s biggest oil traders. “The overall industry is oversized,” chief executive Marco Dunand told the Reuters Global Commodities Summit. “In the trading world, if you look typically over the last few years what the return on equity in trading is, it’s not so bad. But if you look at profit compared to turnover it is very small,” he said. The industry usually operates with a net margin of below 1 percent and during poor years closer to 0.5 percent, which Dunand said leaves very little room for error. “The net margin compared to turnover is probably one of the lowest you can find in markets… We believe there should be consolidation within the industry.” Mercuria grew rapidly in recent years by buying trading books and businesses of rivals such as JP Morgan as banks exited commodities trading and some parts of struggling rival Noble Group. Also spurring consolidation might be higher oil prices, requiring larger working capital to fund trading operations, as well as increasing interest rates around the world, he said. Mercuria is still looking to enter the liquefied natural gas (LNG) market, Dunand said, where its rivals such as Gunvor and Trafigura have already carved out a chunk of the increasingly liquid market. The firm tried to gain exposure to LNG earlier this year when it was part of a failed bid by Harbour Energy to buy Australian gas producer Santos Ltd. The Swiss-based firm reported a gross profit of $674 million in 2017, down from $716 million in 2016 while traded volumes of crude and refined products rose to 121 million tonnes from 105 million tonnes. Volumes will go slightly up in 2018 and the trader will have more than 50 percent of its business in gas, power, coal and metals trading and less than 50 percent in oil and products, said Dunand.? ?
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