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  • Noc Ioc Ms Pei Ying

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    tsar_philip2010
    24 vizualizări12 pagini
    The document discusses facilitating cooperation between National Oil Companies (NOCs) and International Oil Companies (IOCs) to reduce uncertainties in oil investments. It notes that low oil prices since 2009 have led to postponed or cancelled production growth projects accounting for 52% of expected 2014 growth. To address challenges, the document calls for NOCs and IOCs to jointly cut costs, apply new technologies, and integrate their synergies in technology, management, talents, resources, and markets. It expresses China National Petroleum Corporation's willingness to enhance cooperation with other oil companies to jointly address challenges and develop mutually beneficial relationships.

    Descriere originală:

    Reducing investment uncertainty - Cooperation

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    noc-ioc-ms-pei-ying

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    The document discusses facilitating cooperation between National Oil Companies (NOCs) and International Oil Companies (IOCs) to reduce uncertainties in oil investments. It notes that low oil prices since 2009 have led to postponed or cancelled production growth projects accounting for 52% of expected 2014 growth. To address challenges, the document calls for NOCs and IOCs to jointly cut costs, apply new technologies, and integrate their synergies in technology, management, talents, resources, and markets. It expresses China National Petroleum Corporation's willingness to enhance cooperation with other oil companies to jointly address challenges and develop mutually beneficial relationships.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    24 vizualizări12 pagini

    Noc Ioc Ms Pei Ying

    Încărcat de

    tsar_philip2010
    The document discusses facilitating cooperation between National Oil Companies (NOCs) and International Oil Companies (IOCs) to reduce uncertainties in oil investments. It notes that low oil prices since 2009 have led to postponed or cancelled production growth projects accounting for 52% of expected 2014 growth. To address challenges, the document calls for NOCs and IOCs to jointly cut costs, apply new technologies, and integrate their synergies in technology, management, talents, resources, and markets. It expresses China National Petroleum Corporation's willingness to enhance cooperation with other oil companies to jointly address challenges and develop mutually beneficial relationships.

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    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    Facilitating Cooperation between NOCs and IOCs to Reduce Oil Investment Uncertainties

    Pei Ying
    Deputy Director-General, International Dept. China National Petroleum Corporation (CNPC) March 30th, 2009 Kuwait

    02

    World Oil Price Fluctuations

    03

    Oil Price Remained at around 40 USD/barrel after 2009


    USD/barrel

    54.34

    48.36

    38.4

    04

    Global Discoveries in 2008


    ODIP: 48.2 billion BOE

    Offshore Discoveries: 37.8 billion BOE

    Deep Water Discoveries: 31.3 billion BOE

    04

    CERA's Analysis:
    7.6 million barrels growth potential in daily production may be postponed or even cancelled from 2009 to 2014,
    accounting for roughly 52% of total production growth in 2014.

    05

    Nobuo Tanaka

    Low oil prices will discourage investments, impede new production capacity from building up and place uncertainties in supply, which is unfavorable to consumers in the long run.

    06

    NOCs and IOCs must take actions together to lower uncertainties in the oil industry.

    To confront the challenges facing us, companies need to:


    Adjust investment structures Cut off high-cost investments Apply advanced technologies and effective management

    Reduce operational cost

    12

    Integration of NOCs and IOCs Synergy

    Technology
    Management Talents

    Resources Markets

    13

    CNPC is willing to enhance cooperation with NOCs and IOCs to jointly combat the challenges ahead of us and to develop collaborative relations based on mutual benefit.

    11

    Thank you!

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