石油圈據彭博社資訊8月1日倫敦報道，即使原油價格在三年前的半價下跌，歐洲的石油工業還是再次抽走了現金。 然而，企業仍然容易受到新一輪衰退的沖擊。 該地區的三大巨頭——荷蘭皇家殼牌有限公司(Royal Dutch Shell Plc)、道達爾(Total SA)和英國石油公司(BP Plc)——現在可用每桶50美元的油價來支付現金流的支出。 但英國石油公司預計，今年的價格將會下降，而殼牌則表示將“永遠走低”。 一場新的經濟衰退可能會使股息面臨風險，投資者也知道這一點。 能源股是今年摩根士丹利資本國際全球指數表現最差的股票，該行業89家公司市值總計損失了1,530億美元。 高派息率——股東們所擔心的削減支出的信號——一直困擾著石油生產商，使得部分投資者遠離了這個行業。 由于今年原油價格下跌了近8%，所有石油巨頭均表示，即便收購開始回歸，他們仍將嚴格控制支出。 蔡小全 編譯自 WorldOil.com 原文如下： Oil majors seen vulnerable to fresh slump despite growth at $50 Europe’s oil industry is once again pumping out cash even as crude languishes at half the price of three years ago. Yet companies remain vulnerable to a renewed downturn. The region’s top three — Royal Dutch Shell Plc, Total SA and BP Plc — can now cover spending from cash flow with oil at $50/bbl. But BP predicts prices will drop this year, while Shell talks of a “ lower forever” view. A fresh slump could put dividends at risk, and investors know it. Energy stocks are the worst performers in the MSCI World Index this year, with the 89 companies in the industry losing a combined $153 billion in market value. High dividend yields — a signal that shareholders fear a cut in payouts — have dogged oil producers, turning some investors away from the sector. With crude prices down almost 8% this year, all the oil majors have said they’ll keep a tight rein on spending, even as acquisitions start to return.
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