石油圈据彭博社资讯8月1日伦敦报道，即使原油价格在三年前的半价下跌，欧洲的石油工业还是再次抽走了现金。 然而，企业仍然容易受到新一轮衰退的冲击。 该地区的三大巨头——荷兰皇家壳牌有限公司(Royal Dutch Shell Plc)、道达尔(Total SA)和英国石油公司(BP Plc)——现在可用每桶50美元的油价来支付现金流的支出。 但英国石油公司预计，今年的价格将会下降，而壳牌则表示将“永远走低”。 一场新的经济衰退可能会使股息面临风险，投资者也知道这一点。 能源股是今年摩根士丹利资本国际全球指数表现最差的股票，该行业89家公司市值总计损失了1,530亿美元。 高派息率——股东们所担心的削减支出的信号——一直困扰着石油生产商，使得部分投资者远离了这个行业。 由于今年原油价格下跌了近8%，所有石油巨头均表示，即便收购开始回归，他们仍将严格控制支出。 蔡小全 编译自 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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