Core Viewpoint - 延长石油国际 has issued a profit warning, indicating significant losses in its Canadian oil and gas production business due to declining international oil prices and various geopolitical uncertainties [2][4]. Group 1: Financial Performance - The company expects a loss of approximately HKD 27.9 million for the six months ending June 30, 2025, compared to a loss of about HKD 27.3 million in the same period last year [4]. - The primary reason for the anticipated loss is a projected loss of around HKD 28.3 million from its Canadian oil and gas operations [4]. Group 2: Market Conditions - The performance of the Canadian oil and gas business is highly sensitive to fluctuations in international oil prices, which have shown a volatile downward trend [4]. - Factors contributing to the decline in oil prices include the ongoing Russia-Ukraine conflict, escalating tensions in the Middle East, and uncertainties stemming from the U.S. tariff war, alongside weak global economic recovery and subdued industrial output and refined oil consumption [4]. - The average WTI crude oil price fell from approximately USD 77 per barrel in 2024 to around USD 68 per barrel for the six months ending June 30, 2025 [4]. Group 3: Company Background - 延长石油国际 acquired the Canadian small to medium-sized oil and gas company Novus in 2013, which has its main assets located in the Viking oil field at the border of Saskatchewan and Alberta [5]. - The Viking oil field features shallow buried light crude oil, with relatively low drilling costs, representing a lower exploration risk due to its status as a mature producing oil field [5]. - According to a report by the authoritative technical consulting firm Sproule, Novus has proven reserves of 14.85 million equivalent barrels and total proven plus probable reserves of 22.72 million equivalent barrels [5].
延长石油国际补充公告盈警：原油价格下跌导致加拿大油气业务亏损