ST洲际(600759) - 洲际油气股份有限公司2024年11月20日投资者关系活动记录表

Group 1: Oil Price Impact - Fluctuations in oil prices directly affect the company's profitability, with the U.S. energy policy under President Trump potentially increasing oil supply and impacting international oil prices, but not leading to significant short-term price drops [3][4] - Global oil supply and demand are currently balanced, with rigid demand from emerging markets and petrochemical sectors maintaining growth in oil demand despite a slowdown [3][4] Group 2: U.S. Oil Production Insights - U.S. oil production peaked at 13.5 million barrels per day in October 2023, with shale oil production growth lacking momentum due to increased operational costs and diminishing high-quality drilling sites [4][5] - The average breakeven price for U.S. shale oil companies is approximately $70 per barrel; prices below this level could halt expansion efforts [5][6] Group 3: Geopolitical Factors - Trump's election may influence ongoing conflicts, such as the Russia-Ukraine war and the Israel-Palestine conflict, but these will have limited direct effects on oil prices [7][8] - Renewed sanctions on Iran and Venezuela could lead to a reduction in oil production by 1 million barrels or more, supporting upward pressure on oil prices [8] Group 4: Iraq Project Insights - The Iraq project operates under a profit-sharing model, allowing operators to recover costs quickly, which is advantageous in both high and low oil price environments [9][10] - The exploration risk in Iraq is considered low due to existing geological data and previous successful drilling in the region [10][11] Group 5: Kazakhstan Sales Model - The company sold a total of 752,800 tons of crude oil in 2023, with 55% of sales being exports [14] - The pricing for exported oil is based on Brent Dated prices, with a significant portion of sales directed towards European markets [15][16] Group 6: Future Developments - The company plans to collaborate with high-level firms for helium extraction and processing, with potential export restrictions due to its strategic resource status [20] - The pricing of helium is subject to market fluctuations, with recent prices for high-purity helium in China ranging from 700 to 2000 yuan per bottle [20]