Advancing the capabilities in Risk Management at Statoil
|
|
- Virgil Pitts
- 6 years ago
- Views:
Transcription
1 Advancing the capabilities in Risk Management at Statoil The IT challenge 1 - SAS
2 Who we are Energy company present in 35 countries with 23,000 employees Producing 2 million barrels of oil equivalent (boe) per day in 2012 (equity production) One of the world s largest net sellers of crude oil The world's largest operator in waters deeper than 100 metres World leader in carbon storage The second largest exporter of gas to Europe 2 -
3 Embedded in our values
4 A «GRC» Governance, Risk & Compliance or a Mirage? Do the governance structure allow a true Risk & Compliance with sufficient integrity? A true GRC with skilled people could be seen as strait jacket from the administration point of view! Do we have the system support to do it? 4 -
5 5 Risk appetite The level of uncertainty a corporate is willing- and able to take on to execute their activities and realize their long term goals. Risk appetite is about both willingness and ability! «Risk gaps» huge gaps between risk and reward
6 6 - Auditors looking for Risk in all the wrong Places, what about RM
7 Strategic Risk Appetite Bars shows stacked risk figures (not showing combined risk) Positive asymmetry is preferable Less variance in outcomes are preferable over high variance Different strategies for the portfolio: An assessment of different strategic choices Goal Compare risk across segments Compare risk between strategic choices and scenarios
8 The risks that matter Statoil s value chain Upstream Downstream Market Crude oil Crude oil Market risks NGL Refining Fuel oil Gas oil Jet kero Gasoline Naphtha LPG Natural gas Methanol Methanol Dry gas Currency and interest Accidents Catastrophes HSE risks Operational risks Project risk Production risk Reservoir risk Country risks Tax risks Reputational impact
9 Why Enterprise Risk Management, some examples? Know what to manage BU A BU B BU A BU B + 10 musd Portfolio perspective Avoiding suboptimization - 10 musd BU A decides to hedge their currency position - 10 musd Utilizing correlations + 10 musd - 10 musd BU A BU B Net risk = 0 Net risk = -10 Expenses: NOK (10 musd * 6,00 * 30 points) Individual Risk versus portfolio risk 0,7-1 bn NOK Brent 0,6 + 1 bn NOK Gas oil Risk (standard deviation) 0,5 0,4 0,3 0,2 Gas oil Correlation (Brent and gas oil): 0,94 0,1 Brent Net risk =? - Total Individual risks Doing nothing Double hedge 9 -
10 Market Risk (illustrative figures) Risk = Exposure x volatility (annualized) St.dev. in musd 20.0 HSE Gasoil Fueloil Crude Pre-tax Post-tax Total market risk post tax and including correlation effects Distribution of USD EBIT in MUSD (pre-tax) -52 Effect on 2008 results (NOK bn) -16 Oil price - 20 USD/bbl Gas price - 57 øre/sm Entitlement oil prod bbl/day NOK/USD average -0,60 NOK 3 NOK/USD close -0,60 NOK Net income Profit before financial items 10 -
11 Do we understand operational risk? Operational risk is more than HSE High Impact Low Probability events have to be acknowledged! Insurance is a risk adjusting tool, and Statoil has one of the biggest Captives in the world!
12 The need for system support A new VAR system is beeing implemented! VAR is just a part of ERM! What kind of information do we really need from a 2nd generation ERM system? What kind of functionality do we need based on our long experience? Is it possible to simplify? 12 Classification: Internal
13 More than a VAR system??? A modern system contains a lot of optionality and flexibility, but do we really utilize the potential? How difficult is it to transform embedded optionality into useful functionality? A transformation require a true competence about what it is possible to get out of a modern system architecture and ERM professionals! 13 Classification: Internal
14 The level of accuracy Example calculation XX.YY.2011: Ca. 100% oil price exposure hedged at strike 80 USD/bbl for a premium of 0.9 USD/bbl Benchmark at X bnusd Market risk: -389 musd E(probability) -0.8%-points E(shortfall) 1 bn USD Shortfall risk: -110 musd (42%) Cost of an oil hedge post-tax is 83 musd Net Income
15 Impact (incl. reputation effect) Impact Category Proba bility Market Impl. Market Market Market HSE Market Impl. HSE Market Impl. HSE Country 1 Country 2 Country 3 Country 4 Country 5 Market Impl. Impl. Market HSE Market Impl. Impl. Market HSE Activity Corporate Risk Management main products Corporate perspective Secretary function to the Corporate Risk Committee Process owner role of Risk Management Risk reporting Detailed analyses Total risk Risk adjusting actions Equity production Risk communication Mill. USD RISK MAP FOR XXX Acc Oil Gas Prod Mat Pro 17.Feb , 3, 2, 5 2, 1, 50 1, 0, 5 0, ,6 Expected Value 1,7 1,8 1,9 2,0 2, External Forec Targ Guiding ast et Trading Risk - VaR Country Risk Total risk Corporate hedge planning Probability 1% 5% 10%15% 25% 50% 75% Pro Mat Spill HMS1 GT Prod Oil Gas Acc p m 50 p 85 Debt optimization Fixed assets distribution 2012 Other Europe Other 6 % USA 1 % 4 % Canada 8 % Norway Azerbaijan 61 % 3 % Russia 4 % Algeria 2 % Angola 5 % Unspec. INT Venezuela Nigeria 5 % 1 % 0 % low medium risk high risk risk Catastrophic scenarios Cash flow, Net Profit etc. BCM E m e r g e n c y r e s p Business o n recovery s Time e Corporate Insurance risk policy and strategy Squares: Significant Reputational Risk Tax asymmetry Strategic Risk Risk figure in musd Risk specifications; countries in Africa Impl. Impl. Impl.
16 Nice to have vs need to have Start with risk that matters Make it transparent Keep the analythics simple A new system is a prosess! 16 -
17 Risk management in Statoil Summing up Risk is originated from the activies in the value chain In Enterprise Risk management risk is seen in relation to Principal Objectives Create sustainable value Avoid incidents Risk management as an Integrated part of management in general Chapter 4 Case: Statoil
18
The Statoil group 1998
The Statoil group 1998 Key financial figures 1998 (NOK bn) Key financial figures 1998 1997 Operating profit 7.0 17.0 Profit before taxation 4.7 14.0 Net profit 0.3 4.3 After-tax return on capital employed
More informationFinancial statements and review 2nd quarter 2012
2012 Financial statements and review 2nd quarter 2012 2012 SECOND QUARTER RESULTS Statoil's second quarter 2012 net operating income was NOK 62.0 billion, a 2% increase compared to NOK 61.0 billion in
More informationQuarterly Oil Price Outlook:
Quarterly Oil Price Outlook: 2016-2018 Stratas Webinar June 28, 2016 UPSTREAM MIDSTREAM DOWNSTREAM FUEL & TRANSPORT Webinar Agenda Overview of Short Term Outlook Service Recent Happenings Highlights of
More informationPress release 25 July SECOND QUARTER RESULTS. Statoil's second quarter 2013 operating and financial review. Second quarter results 2013
Press release 25 July 2013 2013 SECOND QUARTER RESULTS Statoil's second quarter 2013 operating and financial review Statoil's second quarter 2013 net operating income was NOK 34.3 billion. Adjusted earnings
More informationManaging Oil Price Risks Against the Current Volatile Market
Managing Oil Price Risks Against the Current Volatile Market Petroleum Industry Workshop - by SPC & S&P Global Platts Auckland, New Zealand 22 March 2017 Presenter: Wu Tuck Leong Manager, Commodity Risk
More informationFinancial statements and review. 2nd quarter 2010
Financial statements and review 2nd quarter 2010 High activity and good operations Second quarter Operating and Financial Review Statoil's second quarter 2010 net operating income was NOK 26.6 billion,
More informationFixed Income Investor Update November, 2017
Fixed Income Investor Update 27-28 November, 2017 Disclaimer THIS PRESENTATION IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.
More informationFinancial statements and review 3rd quarter 2011
011 Financial statements and review 3rd quarter 2011 Third quarter 2011 results Statoil's third quarter 2011 net operating income was NOK 39.3 billion, a 39% increase compared to NOK 28.2 billion in the
More informationBRIEFING OCTOBER 2018
BRIEFING OCTOBER 2018 It is very positive that s country-by-country information together with its annual accounts, and the legislator should ensure that this become standard still does not eliminations
More informationStatoil's second quarter 2012 net operating income was NOK 62.0 billion, a 2% increase compared to NOK 61.0 billion in the second quarter of 2011.
Press release 26 July 2012 2012 SECOND QUARTER RESULTS Statoil's second quarter 2012 net operating income was NOK 62.0 billion, a 2% increase compared to NOK 61.0 billion in the second quarter of 2011.
More informationBusiness Plan
PETRÓLEO BRASILEIRO S.A. - PETROBRAS MATERIAL FACT 2011-2015 Business Plan Rio de Janeiro, July 22, 2011 Petróleo Brasileiro S.A. Petrobras hereby announces that its Board of Directors approved today the
More informationStatoil's second quarter 2010 net operating income was NOK 26.6 billion, compared to NOK 24.3 billion in the second quarter of 2009.
Press release 29 July 2010 High activity and good operations Operating and Financial Review Statoil's second quarter 2010 net operating income was NOK 26.6 billion, compared to NOK 24.3 billion in the
More informationANNUAL Financial statements 20-F. 2nd quarter 2013
ANNUAL Financial statements REPORT and review /2012 /2013 20-F 2nd quarter 2013 2013 SECOND QUARTER RESULTS Statoil's second quarter 2013 operating and financial review Statoil's second quarter 2013 net
More informationFinancial statements and review 1st quarter 2011
011 Financial statements and review 1st quarter 2011 Results for first quarter 2011 Statoil's first quarter 2011 net operating income was NOK 50.7 billion, a 28% increase compared to NOK 39.6 billion in
More informationSTATOIL S THIRD QUARTER 2002 OPERATING AND FINANCIAL REVIEW
STATOIL S THIRD QUARTER 2002 OPERATING AND FINANCIAL REVIEW Satisfactory result, good production Net income for the Statoil group in the third quarter of 2002 was NOK 3.3 billion compared with NOK 4.1
More informationFinancial statements and review 1st quarter 2012
2012 Financial statements and review 1st quarter 2012 2012 FIRST QUARTER RESULTS Statoil's first quarter 2012 net operating income was NOK 57.9 billion, a 14% increase compared to NOK 50.8 billion in the
More informationBASF and LetterOne to merge their oil and gas subsidiaries Wintershall and DEA December 7, 2017
BASF and LetterOne to merge their oil and gas subsidiaries Wintershall and DEA December 7, 2017 Cautionary note regarding forward-looking statements This presentation contains forward-looking statements.
More informationFinancial statements and review 4th quarter 2011
011 Financial statements and review 4th quarter 2011 2011 FOURTH QUARTER RESULTS Fourth quarter and preliminary 2011 Operating and Financial Review Statoil's fourth quarter 2011 net operating income was
More informationWEBCAST CONFERENCE CALL First Quarter 2015 Results
WEBCAST CONFERENCE CALL First Quarter 2015 Results May 7th, 2015 Repsol Investor Relations www.repsol.com Disclaimer ALL RIGHTS ARE RESERVED REPSOL, S.A. 2015 Repsol, S.A. is the exclusive owner of this
More informationUniversity of Colorado at Boulder Leeds School of Business Dr. Roberto Caccia
Applied Derivatives Risk Management Value at Risk Risk Management, ok but what s risk? risk is the pain of being wrong Market Risk: Risk of loss due to a change in market price Counterparty Risk: Risk
More informationLOTOS Group Q3 Consolidated Financial results
LOTOS Group Q3 Consolidated Financial results 29 October 2014 Disclaimer Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada
More informationOil Value Chain & Markets. Global Oil Markets
Oil Value Chain & Markets Global Oil Markets World Oil Reserves WORLD OPEC Middle East Former Soviet Union Africa End 2006 End 2000 End 1990 End 1980 North America USA South & Central America Asia Pacific
More informationLondon Investor Update November 2015
London Investor Update November 2015 Philippe F. Mathieu, Senior Vice President, Head of Finance Fride Seljevold Methi, Vice President, Head of Corporate Financing Forward-looking statements This presentation
More informationBuilding energy value worldwide
Building energy value worldwide Combining in-depth industry experience and financialmarket knowledge, ENGIE Global Markets (EGM) is the trading platform at the heart of ENGIE, a leading energy player with
More informationGROWING OUR BUSINESS
GROWING OUR BUSINESS Statoil s first quarter 2007, operating and financial review Statoil s net income in the first quarter of 2007 amounted to NOK 7.8 billion, compared to NOK 10.8 billion in the first
More informationMOL Hungarian Oil and Gas Company. Q preliminary results. May 13, 2005
MOL Hungarian Oil and Gas Company Q1 2005 preliminary results May 13, 2005 Disclaimer "This presentation and the associated slides and discussion contain forward-looking statements. These statements are
More informationSolvency II. Building an internal model in the Solvency II context. Montreal September 2010
Solvency II Building an internal model in the Solvency II context Montreal September 2010 Agenda 1 Putting figures on insurance risks (Pillar I) 2 Embedding the internal model into Solvency II framework
More informationWEBCAST CONFERENCE CALL Fourth Quarter 2014 Results
WEBCAST CONFERENCE CALL Fourth Quarter 2014 Results February 26th, 2015 Repsol Investor Relations www.repsol.com Disclaimer ALL RIGHTS ARE RESERVED REPSOL, S.A. 2015 Repsol, S.A. is the exclusive owner
More informationFirst half preliminary results
Healthy EBIT despite weaker US dollar First half preliminary results 9 August 2007 Delivering on Strategic Plan Operational results in H1 2007 in line with expectations Organic growth and development support
More informationContinued deliveries in turbulent markets
Press release 11 February 2010 Continued deliveries in turbulent markets Statoil's strategy update, fourth quarter 2009 and preliminary results for 2009 Statoil today presents its fourth quarter results
More informationFinancial statements and review 3rd quarter 2012
2012 Financial statements and review 3rd quarter 2012 2012 THIRD QUARTER RESULTS Statoil's third quarter 2012 net operating income was NOK 40.9 billion, a 4% increase compared to NOK 39.3 billion in the
More informationOil and gas business in changing times
Oil and gas business in changing times Sergiu BRASOVEANU The Bucharest University of Economic Studies, Bucharest, Romania sergiu.brasoveanu@gmail.com Abstract. The top 5 oil majors (British Petroleum,
More informationCapital Markets Update. London, 6 February 2015 Classification: Internal
Capital Markets Update London, 6 February 2015 Classification: Internal 2012-10-24 Seizing the opportunity London, 6 February 2015 Eldar Sætre, President and CEO Classification: Internal 2012-10-24 Forward-looking
More informationImperial announces 2017 financial and operating results
Q4 News Release Calgary, February 2, 2018 Imperial announces 2017 financial and operating results Full-year earnings of $490 million; $1,056 million excluding upstream non-cash impairment charges Progressing
More information8:00 am 2, 2018, August. for the. Highlights. 1.1 bn Clean CCS Clean CCS. the largest contributor. c. The six-week. Our operating
Investor News August 2, 208, 8:00 am (local time), 7:000 am (CEST), 6:000 am (BST) OMV Petrom S.A. OMV Petrom Group results for January June and Q2 208 ncluding unaudited interim condensed consolidatedd
More information2010 FOURTH QUARTER RESULTS Statoil's strategy update, fourth quarter and preliminary 2010 Operating and Financial Review
Press release 9 February 2011 2010 FOURTH QUARTER RESULTS Statoil's strategy update, fourth quarter and preliminary 2010 Operating and Financial Review Statoil today presents its fourth quarter results
More informationRNR/HYK. Interim Report 1 January - 31 March April 2002 Teleconference
RNR/HYK Interim Report 1 January - 31 March 2002 Teleconference Highlights of the quarter Delivering on strategic agenda Slightly improved results Weakened market conditions 2 Delivering on strategic agenda
More informationIn for the Long Haul Why Lower Oil Prices will be Good for You!
In for the Long Haul Why Lower Oil Prices will be Good for You! CO2-EOR Institute, 16 July 2015 BEG/CEE-UT, 1 Lower oil prices will Build demand Reduce competition to oil from non-oil alternatives (high
More informationFinancial statements and review 4th quarter 2012
2012 Financial statements and review 4th quarter 2012 2012 FOURTH QUARTER RESULTS Fourth quarter and preliminary 2012 Operating and Financial review Statoil's fourth quarter 2012 net operating income was
More informationInterim Report 1 January - 31 March April 2002
Interim Report 1 January - 31 March 2002 RNR/HYK Highlights of the quarter Delivering on strategic agenda Slightly improved results Weakened market conditions 2 Delivering on strategic agenda Completed
More informationImperial announces 2016 financial and operating results
Q4 News Release Calgary, January 31, 2017 Imperial announces 2016 financial and operating results Full-year earnings of $2.2 billion, including gains on retail asset sales of $1.7 billion Increased annual
More informationBasel Infrastructure Survey 2012 kpmg.com
ADVISORY Basel Infrastructure Survey 202 kpmg.com Table of Contents Introduction... Survey scope and participants... 2 Respondent characteristics... 2 Summary of key findings... 3 Conclusion...0 Appendix:
More informationImperial announces third quarter 2017 financial and operating results
Q3 News Release Calgary, October 27, 2017 Imperial announces third quarter 2017 financial and operating results 18 percent increase in upstream production from the second quarter of 2017 Petroleum product
More informationOilfield Services and Equipment Sector Market Opportunity Update
May 2010 Oilfield Services and Equipment Sector Market Opportunity Update C O N F I D E N T I A L www.oliverwyman.com Contents Introduction and executive summary Global energy industry and oilfield services
More informationLOTOS Group 2Q 2015 consolidated financial results
LOTOS Group 2Q 2015 consolidated financial results August 11th, 2015 1 Key highlights 3-4 2 EFRA Programme milestones 5-9 3 External environment 10-13 4 Upstream 14-17 5 Downstream 18-22 6 Consolidated
More informationOMV Q Conference Call
OMV Q2 208 Conference Call Rainer Seele Chairman of the Executive Board and CEO August 2, 208 OMV Aktiengesellschaft Disclaimer This report contains forward-looking statements. Forward-looking statements
More informationCREATING STAKEHOLDER VALUE THROUGH THE ENERGY TRANSITION
PRICE SENSITIVE In the past five years we have been rapidly delivering a strategy of transformation that was designed to enhance our business model by drastically reducing debt, increasing production and
More informationSupplementary Information: Definitions and reconciliation of non-gaap measures.
Supplementary Information: Definitions and reconciliation of non-gaap measures. The information below has been provided to enhance understanding of the terminology and performance measures that have been
More informationRESULTS FOR Q ANALYST TELECONFERENCE
RESULTS FOR Q3 217 ANALYST TELECONFERENCE Market 1 2 Operation Financials 3 Market 1 217 Third Quarter Market Conditions Fires & Strikes in Europe Harsh Hurricane Season in United States Increase in Global
More informationSEB Investment Grade Seminar 2 September Morten Færevåg, Vice President, Head of Capital Markets
SEB Investment Grade Seminar 2 September 2015 Morten Færevåg, Vice President, Head of Capital Markets Forward-looking statements This presentation contains certain forward-looking statements that involve
More informationOil price. Laura Lungarini
Oil price Laura Lungarini Agenda Crude oil market What is behind oil price Fundamentals Main Players Geopolitics Financial market The price determinant Benchmark crude oils Brent Physical and paper market
More informationANNUAL Financial statements 20-F. 1st quarter 2013
ANNUAL Financial statements REPORT and review /2012 /2013 20-F 1st quarter 2013 2013 FIRST QUARTER RESULTS Statoil's first quarter 2013 operating and financial review Statoil's first quarter 2013 net operating
More informationValue creation through performance
Investor Meeting Reinhard Florey, Chief Financial Officer Munich April 5, 2017 Value creation through performance OMV Aktiengesellschaft Disclaimer This presentation contains forward looking statements.
More informationCEFC INTERNATIONAL LIMITED (SGX: Y35) CORPORATE PRESENTATION. October 2015
1 CEFC INTERNATIONAL LIMITED (SGX: Y35) CORPORATE PRESENTATION October 2015 1 Disclaimer 2 The presentation is prepared by CEFC International (the Company ) and is intended solely for your personal reference
More informationEnterprise Risk Management process at Dragon Oil
Enterprise Risk Management Risk Management Process Dragon Oil s business is potentially exposed to different risks. However, some business risks can be accepted by the Group provided that acceptance of
More information2017: The Bumpy Road to Rebalancing
2017: The Bumpy Road to Rebalancing PESA Supply Chain Seminar February 22, 2017 www.stratasadvisors.com UPSTREAM MIDSTREAM DOWNSTREAM FUEL & TRANSPORT Who We Are Stratas Advisors is a global consulting
More informationOPEC extends oil output cut through March 2018
Economics Research Desk Market Highlights: Oil & Gas update 25 May 2017 OPEC extends oil output cut through March 2018 Oil prices swung between sharp gains and losses in volatile trade on Thursday, after
More informationRESULTS FOR Q ANALYST TELECONFERENCE
RESULTS FOR Q2 217 ANALYST TELECONFERENCE Market 1 2 Operation Financials 3 2 Market 1 3 4 217 Second Quarter Market Conditions Supply Disruptions Increase in middle distillate demand High import requirements
More information1 st Quarter 2002 DNO ASA 23 May 2002
1 st Quarter 2002 DNO ASA 23 May 2002 1 Highlights 1st Quarter 2002 Operations Achieved record production > 20.000 BOPD Yemen production up 100 % due to Sharyoof Maintaining good operating margins Reduced
More informationApplication of ERM to Private Pension
Application of ERM to Private Pension Katsuhiro Yagura Certified Pension Actuary Fellow of the Institute of Actuaries of Japan Session Number: WBR10 Contents 1. Private Pension 2 2. ERM 10 3. Case Studies
More informationImperial earns $516 million in the first quarter of 2018
Q1 News Release Calgary, April 27, 2018 Imperial earns $516 million in the first quarter of 2018 $1 billion of cash generated from operations; nearly $400 million returned to shareholders Quarterly dividend
More informationPrice Risk Value. Risk Management. Jawwad Intro. Alchemy Intro What is this course about. Fellow Society of Actuaries, Investments
Jawwad Intro Fellow Society of Actuaries, Investments June 2012 Risk Management Ideas, Products, Risks, Limits MBA, Columbia Business School 19 years consulting: US, UK, ME & Pakistan Risk Management,
More informationImperial announces first quarter 2017 financial and operating results
Q1 News Release Calgary, April 28, 2017 Imperial announces first quarter 2017 financial and operating results Earnings of $333 million, an increase of $434 million compared to the same period of 2016 Strong
More informationInterim Report 1 January 30 June 2002
Interim Report 1 January 30 June 2002 FORTUM CORPORATION Domicile Espoo Business ID 1463611-4 VAT No. FI14636114 2(11) Fortum Corporation Interim Report 1 January 30 June 2002 Fortum s strategic agenda
More informationMAJOR LOSSES IN THE HYDROCARBON INDUSTRY 03 JULY Jonathan Carter, Global Energy Risk Engineering London
MAJOR LOSSES IN THE HYDROCARBON INDUSTRY 03 JULY 2014 Jonathan Carter, Global Energy Risk Engineering London Introduction to Marsh Introduction to Insurance Risk Engineering Marsh 100 Largest Losses 23
More informationCredit Suisse Financial Services Conference
Credit Suisse Financial Services Conference David H. Sidwell, Executive Vice President & Chief Financial Officer John A. Shapiro, Managing Director & Global Head of Commodities February 7, 2007 Notice
More informationIsraeli off-shore exploration and development. How to manage the risks?
Israeli off-shore exploration and development How to manage the risks? Eitan Glazer, Partner Energy Practice Leader Israel April 28, 2013 Helping energy companies succeed With over 5,300 industry-dedicated
More informationWEBCAST CONFERENCE CALL Third Quarter 2018 Results
WEBCAST CONFERENCE CALL Third Quarter 2018 Results October 31 st 2018 Repsol Investor Relations www.repsol.com Disclaimer ALL RIGHTS ARE RESERVED REPSOL, S.A. 2018 Repsol, S.A. is the exclusive owner of
More informationQ4 Financial Presentation 2015 DOF ASA
Q4 Financial Presentation 2015 Highlights Main Highlights EBITDA Q4 MNOK 818 (operational EBITDA MNOK 814) EBITDA 2015 MNOK 3 719 (operational EBITDA MNOK 3 344) General good operational performance in
More informationUNIPETROL 4Q 2013 FINANCIAL RESULTS
UNIPETROL 4Q 2013 FINANCIAL RESULTS Marek Świtajewski, CEO Mirosław Kastelik, CFO Prague, Czech Republic AGENDA Key highlights of 4Q 2013 Macro environment Financial results Segment results CAPEX, cash
More information4Q and 12M 2017 IFRS Financial Results
Always moving forward 4Q and 12M 2017 IFRS Financial Results Record high EBITDA and core free cash flow March 23, 2018 Forward-Looking Statements Certain statements in this presentation are not historical
More informationNews Release Exxon Mobil Corporation 5959 Las Colinas Boulevard Irving, TX Telephone Facsimile
News Release 5959 Las Colinas Boulevard Irving, TX 75039 972 444 1107 Telephone 972 444 1138 Facsimile FOR IMMEDIATE RELEASE TUESDAY, JANUARY 31, 2017 ExxonMobil Earns $7.8 Billion in 2016; $1.7 Billion
More informationAccessing the North American Energy Value Chain. Investing in essential assets
Accessing the North American Energy Value Chain Investing in essential assets Advancements in technology create opportunities North America is in the midst of a significant energy transformation Technology
More informationImperial earns $196 million in the second quarter of 2018
Q2 News Release Calgary, July 27, 2018 Imperial earns $196 million in the second quarter of 2018 Nearly $900 million of cash generated from operations; more than $1 billion returned to shareholders Renewed
More informationStrategic Monitoring and Business and Management Plan
Strategic Monitoring and Business and Management Plan 2018-2022 Rio de Janeiro, December 21, 2017 Petróleo Brasileiro S.A. Petrobras informs that its Board of Directors approved in a meeting held yesterday
More informationRESULTS AND CONSOLIDATED INFORMATION
RESULTS AND CONSOLIDATED INFORMATION FIRST QUARTER 2017 Investor relations 1 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY... 3 2. KEY FIGURES... 4 3. MARKET ENVIRONMENT... 5 4. EXPLORATION & PRODUCTION... 6
More informationOMV Petrom Most complex and successful transformation of a state owned company in SEE
OMV Petrom Most complex and successful transformation of a state owned Andreas Matje, CFO OMV Petrom November 2014 Largest group in Romania & South-eastern Europe Privatized in 2004 to OMV AG (Austrian
More informationPreview of income statement for first quarter 2008
At Eu1,212 million, net income rises 36.5% year-on-year Unaudited figures (IFRS) FIRST QUARTER 2008 RESULTS 1Q07 4Q07 1Q08 1Q08/1Q07 REPORTED EARNINGS INCOME FROM OPERATIONS 1,407 1,541 1,606 14.1 NET
More informationROSNEFT Q3 and 9M 2012 IFRS Financial Results. 1 November 2012
ROSNEFT Q3 and 9M 2012 IFRS Financial Results 1 November 2012 Important Notice The information i contained herein has been prepared by the Company. The opinions i presented herein are based on general
More informationREPSOL POSTS ADJUSTED NET INCOME OF 1.86 BILLION EUROS
2015 RESULTS Press release Madrid, February 25 th, 2016 7 pages Following impairments of 2.957 billion euros, net income was -1.227 billion euros REPSOL POSTS ADJUSTED NET INCOME OF 1.86 BILLION EUROS
More informationMARKET UPDATE. Julie Afanasiff Mark McRae. November 15, 2017
MARKET UPDATE Julie Afanasiff Mark McRae November 15, 2017 THE GLOBAL BACKDROP Millions of Barrels / Day The Global Backdrop ANNUAL GLOBAL DEMAND 102.0 Annual Global Demand Growth from 2013 2018E 100.0
More information1st Quarter 2014 Earnings Webcast. May 9, 2014
1st Quarter 2014 Earnings Webcast May 9, 2014 Disclaimer Safe harbor statement under the US Private Securities Litigation Reform Act of 1995. This document contains statements that YPF believes constitute
More informationEuropean Solvency II Survey 2014
European Solvency II Survey 2014 Agenda I. Regulatory update II. III. IV. Introduction to survey and findings Pillar 1 findings Eric Brown Pillar 2 findings Frank O Callaghan V. Pillar 3 findings VI. VII.
More informationOMV Q Results Conference Call
OMV Q 207 Results Conference Call Rainer Seele Chairman of the Executive Board and CEO May, 207 OMV Aktiengesellschaft Disclaimer This report contains forward-looking statements. Forward-looking statements
More informationTONY MILSOM Specialist Risk Engineering KPC
www.kuwaiterm.com Quantitative Risk Management Methods, Techniques and Tools TONY MILSOM Specialist Risk Engineering KPC w w w. k u w a i t e r m. c o m KPC ERM Objectives: Three key objectives of KPC
More informationWORLD ENERGY INVESTMENT OUTLOOK. Dr. Fatih Birol Chief Economist Head, Economic Analysis Division International Energy Agency / OECD
WORLD ENERGY INVESTMENT OUTLOOK Dr. Fatih Birol Chief Economist Head, Economic Analysis Division International Energy Agency / OECD Global Strategic Challenges Security of energy supplies Threat of environmental
More informationFinancial statements and review 1st quarter 2008
Financial statements and review 1st quarter 2008 www.statoilhydro.com Solid production, good results StatoilHydro's first quarter 2008, operating and financial review StatoilHydro's first quarter 2008
More informationRecord year without Gas Business 2006 AND 2006 IV. QUARTER PRELIMINARY RESULTS. February 12, 2007
Record year without Gas Business AND IV. QUARTER PRELIMINARY RESULTS February 12, 2007 highlights Outstanding results due to previous years investments and efficiency improvements in all businesses Key
More informationStrategy Presentation Transforming eni, creating value. London, 13 March 2015
2015-2018 Strategy Presentation Transforming eni, creating value London, 13 March 2015 2014 achievements new organization upstream production in line with guidance RRR >100% positive results in g&p r&m
More informationPress release 13 May Solid production, good results StatoilHydro's first quarter 2008, operating and financial review
Press release 13 May Solid production, good results StatHydro's first quarter, and financial review StatHydro's first quarter result was influenced by high and gas prices. income in the first quarter amounted
More informationInvestor Presentation
Investor Presentation Fourth Quarter 2016 KCA Deutag is a leading international drilling and engineering company working onshore and offshore with a focus on safety, quality and operational performance
More informationFocus for the future
N O R S K H Y D R O T H I R D Q U A R T E R 2 0 0 0 Focus for the future NORSK HYDRO OIL AND GAS LIGHT METALS AGRICULTURE PETROCHEMICALS OTHER ACTIVITIES Exploration and Production Norway 1) Exploration
More informationPresentation of Interim results. 2nd quarter 2003 Managing Director Helge Eide CFO Haakon Sandborg
Presentation of Interim results 2nd quarter 23 Managing Director Helge Eide CFO Haakon Sandborg Highlights! Good operational and financial results! Broom Development Plan presented to DTI! Positive results
More informationNews Release Exxon Mobil Corporation 5959 Las Colinas Boulevard Irving, TX Telephone Facsimile
News Release 5959 Las Colinas Boulevard Irving, TX 75039 972 444 1107 Telephone 972 444 1138 Facsimile FOR IMMEDIATE RELEASE THURSDAY, APRIL 30, 2015 ExxonMobil Earns $4.9 Billion in of 2015 Balanced portfolio
More informationInterim Report 3 rd Quarter 2013
Interim Report 3 rd Quarter 2013 Interim Report 3 rd Quarter 2013 Crudecorp ASA is an independent and international E&P company engaged in the acquisition, development and operation of oil and natural
More informationREPSOL NET INCOME RISES 28% TO BILLION EUROS
RESULTS FOR JANUARY-SEPTEMBER 2014 PRESS RELEASE Madrid, 6 November 2014 5 pages The company's debt falls to a historical low at the same time as the company generates a significant amount cash REPSOL
More informationPetrochemical Outlook
Petrochemical Outlook May 25, 2017 www.stratasadvisors.com UPSTREAM MIDSTREAM DOWNSTREAM FUEL & TRANSPORT Main Themes Macro Context Petrochemical Demand Feedstock Availability Projected Investments Key
More informationALM processes and techniques in insurance
ALM processes and techniques in insurance David Campbell 18 th November. 2004 PwC Asset Liability Management Matching or management? The Asset-Liability Management framework Example One: Asset risk factors
More information(TÜPRAŞ) THE CONSOLIDATED INCOME STATEMENT
Turkish Petroleum Refineries Corporation (TÜPRAŞ) THE CONSOLIDATED INCOME STATEMENT In accordance with Capital Market Board Regulations Unaudited Income Statement Unaudited Income Statement (1000 TL) (1000
More informationDNO ASA. Corporate Presentation rd Quarter Q 2002 DNO ASA
DNO ASA Corporate Presentation 20.11.02 3 rd Quarter 2002 1 Highlights 3Q 2002 Record financial performance from Oil & Gas activity Strong cashflow and operating margins Positive results from drilling
More information