英国石油公司财务管理案例分析

BEYOND PETROLEOM,BP漏油事故分析,发展壮大史,1909年，BP由威廉诺克斯达西创立，最初的名字为Anglo Persian石油公司,1935年改为英(国)伊(朗)石油公司，1954年改为现名。BP由前英国石油、阿莫科、阿科和嘉实多等公司整合重组形成，是世界上最大的石油和石化集团公司之一。 BP总部设在英国伦敦。公司的资产市值约为2000亿美元，拥有愈百万股东。截止2008年12月底,雇员约9.2万,在百余个国家拥有生产和经营活动。2003年，BP在财富杂志的全球500强中排前五名，名列欧洲500强之首。,1998年，BP收购美国的阿莫科公司 ，上演了商业版的蛇吞象 ，这是当时世界上最大的一笔收购案 1999年，收购阿科 2000年，收购嘉实多 迅速成长为可以和壳牌，美孚并驾齐驱的石油巨头 2004年又移师远东收购俄罗斯秋明石油公司50的股权，成为西方石油公司在俄罗斯第一笔成功交易。,历次生产事故,1.In December 1965, while the BP oil rig Sea Gem was being moved, two of its legs collapsed and the rig capsized. Thirteen crew were killed. Sea Gem was the first British offshore oil rig 2.2005年3月23日,BP位于美国得克萨斯州的炼油厂异构化装置发生了严重的火灾爆炸事故,造成15名员工丧生,170余人受伤。 3.其后一年不到,BP位于阿拉斯加北坡的石油管道发生泄漏,造成了27万加仑的石油泄漏。 4. 2009年11月,BP阿拉斯加管道接连发生两次泄露事故。最终阿拉斯加州对BP公司提起民事诉讼,称该公司糟糕的维护应对2006年以来发生的数起漏油事故负责。,在美国墨西哥湾 “深水地平线”钻井平台爆炸造成的原油泄漏事件发生后，每天大约有2万至4万桶原油泄漏到墨西哥湾。一家石油公司，两个无奈的国家元首，11个死难者家 属，数以万计奔赴前线救援的志愿者，以及无法统计数量的此死鸟和死鱼，组成了墨西哥湾地区历史上最黑暗的50天。,4月20日事发日 4月20日夜间，路易斯安那州附近墨西哥湾海域“深水地平线”钻井平台爆炸，致7人重伤11人死亡，至少11人失踪。,5月9日事发后第十九天 由于受到深海冰晶的阻碍，英国石油公司通过钢筋水泥罩控制漏油的尝试宣告失败，多地海岸已遭到浮油和焦油凝块侵袭。5月9日，美国墨西哥湾“深水地平线”沉没地点，一只全身裹满原油的海鸟依附在船身上。,5月21日事发后第三十一天 英国石油公司计划继续推进被称为“顶部压井(top kill)”的方案，即将重质钻井液体注入井内以阻止石油与天然气外泄，从而最终封死油井。目前事故油井共有三处漏油点，漏油点位于水下1500米处。打减压井是解决漏油的最终措施。,6月3日事发后四十四天 美国海岸警卫队海军上将萨德艾伦当地时间6月3日上午向媒体表示，英国石油公司终于成功切断海底防喷阀门上方的油井管，这为收集和控制泄露原油创造了条件。然而当天从BP石油公司公布的一段高清视频中看到，墨西哥湾“深水地平线”油井依然不断喷出原油,6月9日事发后五十天 6月9日，一名工人在美国路易斯安那州的海滩边用抽吸软管清理海滩上的油污。英国石油公司首席运营官道格萨特尔斯负责控制漏油说，公众对英国石油公司控制漏油不力而感到沮丧，对此，他表示理解。不过，要到8月份，新的油井建成时，漏油才有望被彻底控制住。,BP开发墨西哥湾油田的历史,In 1992, R L Olver （Deputy Group Chief Executive） led BPs growth in deepwater exploration in the Gulf of Mexico,A new oil and gas production unit in the Gulf of Mexico has been completed in record time, setting an operating efficiency benchmark for future projects.,2002,We continue to innovate and apply leading-edge technology. For example, our new Thunder Horse platform in the deepwater Gulf of Mexico breaks many records as the largest floating facility and will operate in the deepest water, with the harshest reservoir pressure and temperature regime.,2004,Our strategy is to build production by: Focusing on finding the largest fields in the worlds most prolific hydrocarbon basins. Building leadership positions in these areas. Managing the decline of existing producing assets and divesting assets when they no longer compete in our portfolio,2007,TECHNOLOGY FRONTIER IN THE DEPTHS OF THE GULF,The Thunder horse platform in the gulf of Mexico was viewed as an essential step forward for the industry in deepwater developments, going to deeper reservoirs at higher pressures and temperatures than ever before.,2006,2005,年报中有五处提到墨西哥湾油田,We are now the largest producer in deepwater fields globally. In the Gulf of Mexico we ramped up production at Thunder Horse to more than 300,000 barrels of oil equivalent per day. Production started from Atlantis Phase 2, Dorado and King South. And in September we announced the Tiber discovery, the deepest oil and gas discovery well ever drilled. These successes make us the largest producer and leading resource holder in the deepwater Gulf of Mexico.,2009,2008,It was an excellent year, with major projects such as Thunder Horse in the Gulf of Mexico and Deepwater Gunashli in Azerbaijan coming onstream.,新技术、高风险、高技能、高回报,深水区油气资源的勘探开发特点：,BP墨西哥湾油田多数为超过400米深的深水作业，BP预计，到2012年，BP将有一半的油田发展项目来自深水领域，其作业深度将达到25003000米，甚至更深 。,BP 近年财务管理目标 分析,our fundamental objective is to protect and enhance shareholder value, in both the short and long term,2001,Peter Sutherland, Chairman,Our fundamental objective is to protect and enhance shareholder value in a sustainable way, in both the short and long term.,2002,Peter Sutherland, Chairman,Provide the greatest benefit to the broadest constituency,2003,Peter Sutherland, Chairman,Returning cash in excess of our investment requirements to our shareholders both through buybacks and our continued pursuit of a progressive dividend policy is fundamental to our strategy,2004,During 2005, we continued our policy of returning cash in excess of our investment requirements to our shareholders both through buybacks and through our progressive dividend policy,2005,Our aspirations remain unchanged and, in the vast majority of our activities, we continue to be justly proud of our safety record, our environmental initiatives and our high ethical standards. However, it is quite clear to your board that the groups record in some areas has not met the standards to which we aspire. Above all, we must ensure that, at all locations, those who work for us do so safely.,2006,Making the right choices,Peter Sutherland, Chairman,Peter Sutherland, Chairman,Peter Sutherland, Chairman,Our key priorities Safety， People， Performance,2007,We are maintaining our policy of returning cash to shareholders through dividends and buybacks although we are changing the relative proportion of each.,Safety, people and performance, and these remain our priorities.,2008,Tony Hayward Group Chief Executive,Our priorities have remained absolutely consistent safety, people and performance,2009,Tony Hayward Group Chief Executive,Efficiency, momentum AND growth,Peter Sutherland, Chairman,BP财务管理目标： 股东财富最大化 创建持续扩张帝国,从BP各项财务指标看 BP对财务目标之执行力,BP历年财务数据,2005,2009 Reported production grew by 4% and unit production costs were down by 12%.,英国石油公司近五年股票价格走势,从Bp对漏油事故的应对措施 分析 BP财务管理目标,从各方反应看公司财务管理目标的选择,相关的法律法规：,社会公众的利益：,中小企业： 利润最大化,上市公司： 股东财富最大化,大型跨国公司和企业巨头： 社会价值最大化,