金融危机后壳牌发展战略分析  

Shell's development strategy post-financial crisis

作　　者：张蕤[1] 

机构地区：[1]中国石油集团经济技术研究院

出　　处：《国际石油经济》2015年第7期19-26,共8页International Petroleum Economics

摘　　要：金融危机爆发后的前几年,壳牌公司继续大力发展天然气业务,积极实施有机增长战略,但受内外部因素的影响,资本占用高、投资强度大,储量替代成本和勘探开发成本大幅攀升,导致投资回报率显著降低、现金流甚至出现赤字。为此,壳牌及时调整了投资思路,严格管控投资,审慎选择新项目;同时大力调整表现不佳的北美非常规业务和欧洲下游业务,加大不良资产剥离力度,使公司快速恢复了发展活力。After the outbreak of the financial crisis, Shell continued to develop the natural gas business and actively implemented its organic growth strategy, but it was affected by internal and external factors such as high capacity utilization and investment intensity and soaring cost of reserve replacement and of exploration and development, resulting in a significantly lower rate of return on investment and even a cash flow deficit. Shell accordingly made timely adjustments to its investment orientation： it took strict control over investment, carefully selected new projects, vigorously made adjustments to underperforming unconventional business in North America and European downstream business, and stepped up efforts to shed non-performing assets, enabling the company to quickly restore its development thrust.

关 键 词：壳牌 发展战略 勘探开发 成本 投资回报 业务调整 资产剥离 

分 类 号：F416.22[经济管理—产业经济]