Analyse aandeel BP - Aanbevolen Aandeel

De grootste uitdaging voor de grote oliemaatschappijen is om hun reserves op peil te houden. Er is genoeg olie in de wereld, maar het moeilijk om die tegen lage kosten uit de grond te halen. (rapport Engelstalig)

Stephen Simko, CFA 28 oktober, 2014 | 15:23
Facebook Twitter LinkedIn


A key challenge faces the oil majors: Replacing reserves is becoming increasingly difficult. There's a lot of oil left in the world, but finding low-cost barrels has never been harder, in no small part because many governments now don't allow Western companies access to their resources.

Outside of Russia, BP produced the equivalent of 860 million barrels of oil and gas in 2013; this represents the level of reserves it needs to book annually to prevent reserves from declining. But there simply are not this many barrels of conventional (that is, low-cost) oil and gas reserves annually accessible to BP. This has forced the majors to increasingly focus on nonconventional resources (deep water, oil sands, and shale gas, for example). Therefore, at a given level of oil prices we'd expect BP's future returns to be lower as nonconventional resources are typically costlier to develop and produce. This is one of the reasons BP's finding and development costs have been rising in recent years.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

Om dit artikel te kunnen lezen, kunt u zich inschrijven als Morningstar Basic Member

Registreer gratis
Facebook Twitter LinkedIn

Effecten genoemd in dit artikel

Naam effectPrijsChange (%)Morningstar Rating
BP PLC331,20 GBX-0,51Rating

Over de auteur

Stephen Simko, CFA  Stephen Simko, CFA, is a senior stock analyst on the Technology Team.

© Copyright 2021 Morningstar, Inc. Alle rechten voorbehouden.

Voorwaarden        Privacybeleid