|2020-02-27 来源： 中国石化新闻网|
安永在本月发布的《2019年全球油气交易回顾》(Global Oil and gas transactions review 2019)报告中表示，油气公司继续筹集大量资金，并达成了大型并购交易，但低碳和净零排放的主题已开始影响交易的性质和资本配置策略。
王佳晶 摘译自 今日油价
Big Money Still Loves Oil & Gas
The entire oil and gas industry and its investors are seriously reassessing the value of their beloved fossil fuels in the context of a major energy transition. But don’t be fooled: The returns of oil and gas projects are still highly competitive and plenty of capital is still flowing.
While the energy transition and the low-carbon energy themes will only become more prominent in the coming years, oil and gas returns will continue to be competitive with the returns on investments in green energy, analysts say.
Still, oil and gas companies now know with certainty that they must start to align their capital allocation strategies with the growing investor pressure to show willingness and commitment to curb emissions and help save the planet.
Energy Transition Starts To Shape Capital Flows and M&A Deals
Oil and gas firms continue to raise a lot of capital and strike mega merger deals, but the low-carbon and net zero themes have started to shape the nature of deals and capital-allocation strategies, EY said in its Global oil and gas transactions review 2019 this month.
According to EY, both the values of mergers and acquisitions (M&As) and capital-raising were robust in the sector last year.
Oil and gas firms raised US$617.4 billion in capital in 2019, up by 7 percent on the year, with loans and bonds accounting for 92 percent of capital raised. The total value of capital raised was the highest in five years, but the number of fundraisings was down for yet another year, reflecting challenging conditions for some segments in the industry, notably financial stress among U.S. exploration and production companies and among oilfield services, EY said in its review.
In M&A, the value of upstream deals rose by 17.6 percent to US$160.5 billion, thanks to Occidental’s acquisition of Anadarko. Excluding this deal, total global deal value dropped by 24.2 percent. In exploration and production, the U.S. continued to lead the way for M&A deals for a fifth consecutive year, representing 60 percent of the world’s total upstream deal value, EY’s review.