2015年,埃克森美孚、BP、壳牌、雪佛龙及道达尔等5家跨国石油公司(IOC)资产价值缩水18.6%。低油气价格的持续及随之而来的高负债,抵消了成本下降及下游炼化、销售和运输业务利润空间改善带来的增长效应。其间,跨国油企股票平均价格下降23%,略高于资产评估价值的下跌幅度。资产负债比增加、现金流入不敷出,2016年油市寒冬依旧,这一现 In 2015, the assets of five multinational oil companies (IOCs) such as ExxonMobil, BP, Shell, Chevron and Total dipped by 18.6%. The low oil and gas prices and the consequent high debt offset the cost reduction and the growth impact of the improved profit margins of downstream refining, sales and transportation businesses. In the meantime, the average price of multinational oil companies fell 23%, slightly higher than the valuation of assets decline. The increase in the ratio of assets and liabilities, cash inflows make ends meet, the oil market in 2016 still cold winter, this is now