Affected oil prices plummeted "three barrels of oil" net profit drop in the oil down 6 percent

In the first half of the average oil price of 57.53 US dollars / barrel
(Reporter Zhao Jia Ni) August 27, PetroChina released first half earnings, revenue fell 24% year on year, net profit plunged 63% year on year. Similarly, due to oil prices downturn, the day before the release of Sinopec, CNOOC performance has also been hit hard. Up to now, the second half of the situation did not improve, "three barrels of oil" days fear will continue difficult. According to the results show that "three barrels of oil" regardless of revenue or net profit, year on year were significantly reduced, or even a decline of more than 50%, 60%, in recent years is rare. Especially more dependent on the upstream business of CNPC and CNOOC, a larger decline. International oil prices are directly related to the "three barrels of oil" business quality of the key factors. Since August this year, the international crude oil prices continued to test a lower, once again fell to the bottom. WTI (US West Texas Light Crude) and Brent not only double the lowest point in the year, and all the way down to nearly six years since the lowest point. In the earnings report, "three barrels of oil" will also be attributed to the reasons for the low oil prices. Which CNOOC said that the average oil price in the first half of 57.53 US dollars / barrel, down 45.9%. As the main oil exploration and production sector, the first half operating profit of 32.917 billion yuan, a substantial reduction of 67.8% year on year. Sales segment to achieve operating profit of 2.783 billion yuan, down 65.8%. Sinopec's exploration and development business from profit to loss, to achieve operating loss of 1.8 billion yuan, year on year to reduce revenue of 30.1 billion yuan. Unfortunately, the industry that the international crude oil prices in the second half is still not optimistic about the performance of the "three barrels of oil" the future will be sad for some time in the future. Longzhong Petrochemical Network analyst Li Yan said that the reason for the current decline in oil prices will be so low, because the demand side of the signs of deterioration, its intensity has obviously overshadowed the impact of excess supply. China and the global stock market crash that the global economy into a low growth crisis, the global economic downturn dragged down the real demand and future demand growth is expected, and the traders bearish mood thus increased. The industry generally believes that if the future demand side is difficult to boost, then the oil price will be more difficult to rebound, the United States and OPEC to maintain high production, abundant supply of the basic short-term flip, the pattern of oversupply is unable to support the rise of the trend. At the same time the Federal Reserve interest rate expectations are not worried, the strong dollar as the tiger in the side, the low price of oil hovering days or will continue for a long time, which will lead to "three barrels of oil" days continued difficult,


117843000:2017-04-05 17:34:40