<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/kHCyV43vMA9pt0j4vQnCrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-/https://media.zenfs.com/en/afp.com.sg/1e447dbcf44ce0e1456f184c16b47065?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/kHCyV43vMA9pt0j4vQnCrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-/https://media.zenfs.com/en/afp.com.sg/1e447dbcf44ce0e1456f184c16b47065"/></p>
<p>包括殼牌在內的能源巨頭在今年前三個月中實現了強勁的利潤，因為由於中東戰爭，全球油價飆升（Ben STANSALL）</p>
<p>在中東戰爭導致價格飆升的情況下，歐洲的石油和天然氣公司在第一季度報告了鉅額利潤，倫敦和巴黎的新呼聲要求對其超額收益徵税。</p>
<p>殼牌在週四結束了主要能源生產商的財報季，宣佈淨利潤接近 57 億美元（約 48 億歐元），比 2025 年第一季度增長了 19%。</p>
<p>該集團解釋稱，它受益於更高的價格和 “提高的煉油利潤”，以及 “來自交易活動的更高貢獻”。</p>
<p>英國競爭對手 BP 的情況類似，上個月底報告了利潤大幅上升，達到了 38.4 億美元，而 TotalEnergies 的利潤則飆升 51% 至 58 億美元。</p>
<p>相比之下，美國能源公司埃克森美孚和雪佛龍的利潤下降，結果受到衍生品市場中銷售與交付之間不利時間差的影響。</p>
<p>美以戰爭促使德黑蘭封鎖霍爾木茲海峽這一關鍵能源通道，導致市場上的石油供應急劇下降，價格飆升。</p>
<p>布倫特原油每桶在 3 月份的平均價格約為 100 美元，最高達到 120 美元，而在 2 月底衝突開始之前為 70 美元。</p>
<p>這顯著幫助了歐洲三巨頭 BP、殼牌和 TotalEnergies，它們擁有強大的交易業務——與其美國同行埃克森美孚和雪佛龍相比，後者更依賴於生產活動。</p>
<p>本季度的一個重大區別是，“BP、殼牌和 Total 受益於更高的價格和動盪本身，” SPI 資產管理公司的分析師 Stephen Innes 對法新社表示。</p>
<p>他補充説，“本季度歐洲大型企業看起來不像傳統的石油公司，更像是在全球能源系統中運作的複雜波動交易者。”</p>
<p>- 新項目 -</p>
<p>從倫敦到巴黎，強勁的業績引發了對石油公司暴利徵税的呼聲，正如 2022 年烏克蘭戰爭後發生的情況。</p>
<p>“再次，化石燃料巨頭們正在獲取鉅額利潤，” 非政府組織地球之友的 Danny Gross 在一份聲明中感嘆，並呼籲對利潤徵收更高的税。</p>
<p>在英國，北海的石油公司仍然受到能源利潤税的約束，這是一項針對 2022 年引入的石油和天然氣上游生產利潤的臨時税，已多次延長和增加。</p>
<p>該税目前設定為利潤的 38%，直到 2030 年，並且是在該行業已經實施的 40% 税收基礎上。此外，它僅適用於來自英國石油和天然氣生產的利潤。</p>
<p>殼牌和 BP 的利潤激增引發了對增加這些税收的更多呼聲，能源部長 Ed Miliband 特別譴責了他所稱的 “過高利潤”。</p>
<p>與此同時，法國總統埃馬紐埃爾·馬克龍呼籲在面對能源公司過高的暴利或 “投機行為” 時採取歐洲應對措施。</p>
<p>法新社諮詢的分析師表示，預計公司在第二季度將再次報告強勁的利潤。</p>
<p>“即使緊張局勢緩解，市場也不會在一夜之間恢復正常，” Innes 觀察到。</p>
<p>“我不確定這個衝突會那麼容易解決，” 牛津大學能源系統高級講師 Adi Imsirovic 表示。這將使價格保持在較高水平更長時間。</p>
<p>這種情況可能會刺激新的石油和天然氣項目，正如 TotalEnergies 所設想的，涉及能夠快速生產的小規模油田。</p>
<p>Innes 認為，公司將更傾向於相信低成本項目，而不是 “盲目” 衝進大規模擴張。</p>
<p>“贏家可能是那些低成本、靈活且地緣政治安全的項目，而不是為了擴張而擴張的大規模項目，” 他補充道。</p>
<p>近年來，BP 和殼牌已縮減了多個氣候目標，以繼續進行石油和天然氣生產。</p>
<p>最近，TotalEnergies 宣佈無法再承諾其 2050 年碳中和目標，強調世界尚未準備好擺脱石油。</p>
<p>然而，這場衝突使可再生能源在能源安全中的角色再次受到關注。</p>
<p>“這一點在全球各國的首都並沒有被忽視，” Imsirovic 表示。</p>
<p>ode-nal/abb/cw/rl/ceg</p>

RDSB

英國石油

SHEL

SHEL.WI

<p>歐洲的石油和天然氣公司，包括殼牌和英國石油，在第一季度報告了顯著的利潤，這主要是由於中東衝突推動的油價飆升。這重新點燃了從倫敦到巴黎對暴利税的呼聲，類似於烏克蘭戰爭後實施的税收。英國對北海利潤徵收 38% 的能源利潤税，而法國總統馬克龍則倡導對過高利潤採取歐洲層面的回應。分析師預測第二季度將繼續保持強勁的利潤，重點關注在持續的地緣政治緊張局勢下的低成本、靈活的能源項目</p>

<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/kHCyV43vMA9pt0j4vQnCrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-/https://media.zenfs.com/en/afp.com.sg/1e447dbcf44ce0e1456f184c16b47065" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/kHCyV43vMA9pt0j4vQnCrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-/https://media.zenfs.com/en/afp.com.sg/1e447dbcf44ce0e1456f184c16b47065"/></p>
<p>Energy giants, including Shell, have posted strong profits in the first three months of the year as global oil prices soar due to the war in the Middle East (Ben STANSALL)</p>
<div class="lb-trans"><p>包括殼牌在內的能源巨頭在今年前三個月中實現了強勁的利潤，因為由於中東戰爭，全球油價飆升（Ben STANSALL）</p>
</div><p>European oil and gas companies who posted huge profits in the first quarter on soaring prices caused by the war in the Middle East face new calls from London to Paris to tax their outsized gains.</p>
<div class="lb-trans"><p>在中東戰爭導致價格飆升的情況下，歐洲的石油和天然氣公司在第一季度報告了鉅額利潤，倫敦和巴黎的新呼聲要求對其超額收益徵税。</p>
</div><p>Shell rounded out the major energy producers' earnings season on Thursday by announcing net profit of nearly $5.7 billion (around 4.8 billion euro), up 19 percent on the first quarter of 2025.</p>
<div class="lb-trans"><p>殼牌在週四結束了主要能源生產商的財報季，宣佈淨利潤接近 57 億美元（約 48 億歐元），比 2025 年第一季度增長了 19%。</p>
</div><p>The group explained it had benefited from higher prices and &#34;increased refining margins,&#34; as well as &#34;a higher contribution from trading activities&#34;.</p>
<div class="lb-trans"><p>該集團解釋稱，它受益於更高的價格和 “提高的煉油利潤”，以及 “來自交易活動的更高貢獻”。</p>
</div><p>It was a similar story for British rival BP, which reported a sharp rise in profits at the end of last month, posting $3.84 billion while TotalEnergies saw their profits soar 51 percent to $5.8 billion.</p>
<div class="lb-trans"><p>英國競爭對手 BP 的情況類似，上個月底報告了利潤大幅上升，達到了 38.4 億美元，而 TotalEnergies 的利潤則飆升 51% 至 58 億美元。</p>
</div><p>In contrast, US energy companies ExxonMobil and Chevron saw their profits decline, results affected by an unfavourable time lag between the sale and delivery of products within the derivatives markets.</p>
<div class="lb-trans"><p>相比之下，美國能源公司埃克森美孚和雪佛龍的利潤下降，結果受到衍生品市場中銷售與交付之間不利時間差的影響。</p>
</div><p>The US-Israeli war on Iran prompted Tehran to blockade the key energy chokepoint of the Strait of Hormuz, causing a sharp drop in oil supplies on the market and a surge in prices.</p>
<div class="lb-trans"><p>美以戰爭促使德黑蘭封鎖霍爾木茲海峽這一關鍵能源通道，導致市場上的石油供應急劇下降，價格飆升。</p>
</div><p>A barrel of Brent crude, the global benchmark, averaged around $100 in March, with peaks of $120, compared with $70 before hostilities began in late February.</p>
<div class="lb-trans"><p>布倫特原油每桶在 3 月份的平均價格約為 100 美元，最高達到 120 美元，而在 2 月底衝突開始之前為 70 美元。</p>
</div><p>That notably helped European trio BP, Shell and TotalEnergies, which have strong trading operations -– unlike their US counterparts and rivals ExxonMobil and Chevron, which are more reliant on production activities.</p>
<div class="lb-trans"><p>這顯著幫助了歐洲三巨頭 BP、殼牌和 TotalEnergies，它們擁有強大的交易業務——與其美國同行埃克森美孚和雪佛龍相比，後者更依賴於生產活動。</p>
</div><p>The big difference this quarter is that &#34;BP, Shell and Total benefited from both the higher prices and the turbulence itself,&#34; Stephen Innes, analyst with SPI Asset Management, told AFP.</p>
<div class="lb-trans"><p>本季度的一個重大區別是，“BP、殼牌和 Total 受益於更高的價格和動盪本身，” SPI 資產管理公司的分析師 Stephen Innes 對法新社表示。</p>
</div><p>He added that &#34;the European majors looked less like traditional oil companies this quarter and more like sophisticated volatility traders operating inside the global energy system.&#34;</p>
<div class="lb-trans"><p>他補充説，“本季度歐洲大型企業看起來不像傳統的石油公司，更像是在全球能源系統中運作的複雜波動交易者。”</p>
</div><p>- New projects -</p>
<div class="lb-trans"><p>- 新項目 -</p>
</div><p>From London to Paris the strong results have sparked calls to tax oil company windfall profits, as occurred following the war in Ukraine which started in 2022.</p>
<div class="lb-trans"><p>從倫敦到巴黎，強勁的業績引發了對石油公司暴利徵税的呼聲，正如 2022 年烏克蘭戰爭後發生的情況。</p>
</div><p>&#34;Once again, the fossil fuel giants are raking in massive profits,&#34; lamented Danny Gross of NGO Friends of the Earth in a statement which called for increased taxes on profits.</p>
<div class="lb-trans"><p>“再次，化石燃料巨頭們正在獲取鉅額利潤，” 非政府組織地球之友的 Danny Gross 在一份聲明中感嘆，並呼籲對利潤徵收更高的税。</p>
</div><p>In the UK, oil companies operating in the North Sea remain subject to the Energy Profits Levy, a temporary levy on profits arising from the upstream production of oil and gas introduced in 2022, which has been extended and increased several times.</p>
<div class="lb-trans"><p>在英國，北海的石油公司仍然受到能源利潤税的約束，這是一項針對 2022 年引入的石油和天然氣上游生產利潤的臨時税，已多次延長和增加。</p>
</div><p>It is currently set at 38 percent of profits until 2030 and is in addition to the 40 percent of taxes already in force in the sector. However, it only applies to profits derived from UK oil and gas production.</p>
<div class="lb-trans"><p>該税目前設定為利潤的 38%，直到 2030 年，並且是在該行業已經實施的 40% 税收基礎上。此外，它僅適用於來自英國石油和天然氣生產的利潤。</p>
</div><p>The surging profits at Shell and BP has brought more calls to increase these levies, with Energy Minister Ed Miliband notably condemning what he termed &#34;excessive profits&#34;.</p>
<div class="lb-trans"><p>殼牌和 BP 的利潤激增引發了對增加這些税收的更多呼聲，能源部長 Ed Miliband 特別譴責了他所稱的 “過高利潤”。</p>
</div><p>French President Emmanuel Macron is meanwhile calling for a European response in the face of excessive energy firm windfall profits or &#34;speculative behaviour&#34;.</p>
<div class="lb-trans"><p>與此同時，法國總統埃馬紐埃爾·馬克龍呼籲在面對能源公司過高的暴利或 “投機行為” 時採取歐洲應對措施。</p>
</div><p>Analysts consulted by AFP indicate companies are expected to post strong profits again in the second quarter.</p>
<div class="lb-trans"><p>法新社諮詢的分析師表示，預計公司在第二季度將再次報告強勁的利潤。</p>
</div><p>&#34;Even if tensions ease, markets do not suddenly snap back to normal overnight,&#34; observed Innes.</p>
<div class="lb-trans"><p>“即使緊張局勢緩解，市場也不會在一夜之間恢復正常，” Innes 觀察到。</p>
</div><p>&#34;I am not sure this conflict will get resolved that easily,&#34; said Adi Imsirovic, senior lecturer in energy systems at Oxford University. That would keep prices higher for longer.</p>
<div class="lb-trans"><p>“我不確定這個衝突會那麼容易解決，” 牛津大學能源系統高級講師 Adi Imsirovic 表示。這將使價格保持在較高水平更長時間。</p>
</div><p>That scenario is likely to stimulate new oil and gas projects, as envisaged by TotalEnergies, involving small-scale fields capable of rapid production.</p>
<div class="lb-trans"><p>這種情況可能會刺激新的石油和天然氣項目，正如 TotalEnergies 所設想的，涉及能夠快速生產的小規模油田。</p>
</div><p>Innes believes companies will prefer to put their faith in low-cost projects rather than rushing &#34;blindly&#34; into massive expansion.</p>
<div class="lb-trans"><p>Innes 認為，公司將更傾向於相信低成本項目，而不是 “盲目” 衝進大規模擴張。</p>
</div><p>&#34;The winners will likely be the projects that are low-cost, flexible, and geopolitically secure, rather than massive expansion for expansion’s sake,&#34; he added.</p>
<div class="lb-trans"><p>“贏家可能是那些低成本、靈活且地緣政治安全的項目，而不是為了擴張而擴張的大規模項目，” 他補充道。</p>
</div><p>In recent years, BP and Shell have scaled back several climate targets in favour of continuing oil and gas production.</p>
<div class="lb-trans"><p>近年來，BP 和殼牌已縮減了多個氣候目標，以繼續進行石油和天然氣生產。</p>
</div><p>More recently, TotalEnergies announced it could no longer commit to its 2050 carbon neutrality target, stressing the world was not yet ready to move on from oil.</p>
<div class="lb-trans"><p>最近，TotalEnergies 宣佈無法再承諾其 2050 年碳中和目標，強調世界尚未準備好擺脱石油。</p>
</div><p>The conflict has, nonetheless, brought the role of renewable energy in energy security back into the spotlight.</p>
<div class="lb-trans"><p>然而，這場衝突使可再生能源在能源安全中的角色再次受到關注。</p>
</div><p>&#34;This has not gone unnoticed in all capitals across the globe,&#34; said Imsirovic.</p>
<div class="lb-trans"><p>“這一點在全球各國的首都並沒有被忽視，” Imsirovic 表示。</p>
</div><p>ode-nal/abb/cw/rl/ceg</p>
<div class="lb-trans"><p>ode-nal/abb/cw/rl/ceg</p>
</div>

能源利潤的飆升重新引發了對徵收暴利税的呼聲