 鲜花( 1)  鸡蛋( 0)
|
CALGARY - Energy companies start reporting their third-quarter results today amid an environment of plunging oil prices and with credit and equity markets in disarray.
# [' E) U& U6 s' Y' \- G, k( }7 A' m, {# D
As oil closed at US$74.25, up US$2.40 on the day -- above last week's low of US$67 but a far cry from its peak of US$147 per barrel in July -- it's clear the days of wondering how amazing the profits will be are over.' M, _2 W1 o5 c! b4 t# o4 y# q5 T
7 o) ]2 t$ R/ X0 d: E# F" @This time around, capital expenditure plans will be under the microscope. Budgets may still be undergoing finishing touches, but do not expect the Street to wait for the nitty-gritty details.- ~! S7 p8 m8 J3 Q1 d: l9 Y; Z
2 A# F2 A( j5 F2 v# R( C
Take the mammoth Suncor Energy Inc. (SU/TSX) as an example of the dramatic cuts that may be coming.
) n( V; E1 D* H9 h8 a! I. i" i6 y7 w
"We would not be surprised to see Suncor take a more conservative stance towards spending by scaling back its $9-billion to $10-billion 2009 capex program to the $5-billion to $6-billion range," said Andrew Potter, an analyst at UBS Securities Inc.0 Y+ V$ w* J" [
1 E. u6 p; w0 T: e/ [; N* zhttp://www.financialpost.com/money/story.html?id=895061 |
|
狗仔卡
发表于 2008-10-22 16:11
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
