{"id":368259,"date":"2021-02-03T23:18:15","date_gmt":"2021-02-04T07:18:15","guid":{"rendered":"https:\/\/nai500.com\/?p=368259"},"modified":"2021-02-03T23:18:15","modified_gmt":"2021-02-04T07:18:15","slug":"%e9%ab%98%e6%94%b6%e7%9b%8a-%e5%8a%a0%e6%8b%bf%e5%a4%a7%e8%83%bd%e6%ba%90%e8%82%a1","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2021\/02\/%e9%ab%98%e6%94%b6%e7%9b%8a-%e5%8a%a0%e6%8b%bf%e5%a4%a7%e8%83%bd%e6%ba%90%e8%82%a1\/","title":{"rendered":"\u60f3\u8981\u83b7\u5f97\u9ad8\u6536\u76ca\uff1f\u53ef\u4ee5\u8003\u8651\u8fd9\u4e24\u53ea\u52a0\u62ff\u5927\u80fd\u6e90\u80a1"},"content":{"rendered":"

\u6700\u8fd1\u51e0\u5e74\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u80a1\u8868\u73b0\u6b20\u4f73\uff0c\u80fd\u6e90\u6295\u8d44\u6536\u76ca\u4e0d\u7406\u60f3\u5305\u62ec\u57fa\u672c\u9762\u3001\u653f\u6cbb\u4ee5\u53ca\u7ecf\u6d4e\u5c42\u9762\u7684\u539f\u56e0\u3002\u75ab\u60c5\u51b2\u51fb\u4e4b\u4e0b\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u516c\u53f8\u4e0d\u65ad\u7626\u8eab\uff0c\u7cbe\u7b80\u4e1a\u52a1\u5e76\u4f18\u5316\u8d44\u672c\u7ed3\u6784\uff0c\u53e0\u52a0\u80a1\u4ef7\u4ecd\u5904\u4e8e\u4f30\u503c\u533a\u95f4\u7684\u5e95\u90e8\u9644\u8fd1\uff0c\u98ce\u9669\u6536\u76ca\u6bd4\u6301\u7eed\u5411\u597d\uff0c\u53cd\u800c\u5177\u5907\u4e86\u57282021\u5e74\u5411\u6295\u8d44\u8005\u63d0\u4f9b\u9ad8\u6536\u76ca\u7684\u6f5c\u529b\u3002<\/p>\n

\u4e00\u822c\u6765\u8bf4\uff0c\u80fd\u6e90\u751f\u4ea7\u5546\u662f\u4ef7\u683c\u7684\u63a5\u53d7\u8005\uff0c\u800c\u4e0d\u662f\u4ef7\u683c\u5236\u5b9a\u8005\uff0c\u4ed6\u4eec\u5bf9\u4e8e\u5e02\u573a\u4ef7\u683c\u7684\u63a7\u5236\u529b\u6781\u4e3a\u6709\u9650\u3002\u53e6\u5916\uff0c\u7eff\u8272\u80fd\u6e90\u3001\u6e05\u6d01\u6280\u672f\u4ee5\u53ca\u7535\u52a8\u8f66\u65e0\u7591\u4e5f\u5728\u4fb5\u98df\u5e02\u573a\u4e0a\u7684\u77f3\u6cb9\u9700\u6c42\uff0c\u4f46\u53c8\u4e0d\u5f97\u4e0d\u627f\u8ba4\u7684\u662f\uff0c\u6211\u4eec\u793e\u4f1a\uff0c\u5c24\u5176\u662f\u53d1\u5c55\u4e2d\u56fd\u5bb6\u5bf9\u4e8e\u77f3\u6cb9\u7684\u4f9d\u8d56\u8981\u6bd4\u6211\u4eec\u591a\u6570\u4eba\u4ee5\u4e3a\u7684\u6301\u7eed\u66f4\u957f\u65f6\u95f4\u3002<\/p>\n

\u73b0\u5728\u5f88\u591a\u52a0\u62ff\u5927\u77f3\u6cb9\u80a1\u5c31\u662f\u73b0\u91d1\u5976\u725b\uff0c\u521b\u9020\u5927\u91cf\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u3002\u8fd9\u4e9b\u73b0\u91d1\u53ef\u7528\u4e8e\u524a\u51cf\u6216\u6d88\u9664\u503a\u52a1\uff0c\u53ef\u7528\u6765\u56de\u8d2d\u80a1\u7968\uff0c\u6216\u8005\u662f\u4e0a\u8c03\u80a1\u606f\u3002<\/p>\n

\u4ee5\u4e0b\u662f\u6709\u671b\u57282021\u5e74\u4e3a\u6295\u8d44\u521b\u9020\u9ad8\u6536\u76ca\u7684\u4e24\u53ea\u52a0\u62ff\u5927\u80fd\u6e90\u80a1\uff1a<\/p>\n

Pembina Pipeline\uff1a\u80a1\u606f\u5b89\u5168\u7684\u52a0\u62ff\u5927\u80fd\u6e90\u80a1<\/h2>\n

\u51c6\u786e\u6765\u8bf4\uff0cPembina Pipeline Corp\uff08TSX: PPL<\/a>\uff09\uff08NYSE: PBA<\/a>\uff09\u5e76\u4e0d\u662f\u77f3\u6cb9\u751f\u4ea7\u5546\uff0c\u800c\u662f\u52a0\u62ff\u5927\u897f\u90e8\u548c\u7f8e\u56fd\u6cb9\u6c14\u6536\u96c6\u3001\u52a0\u5de5\u548c\u8fd0\u8f93\u57fa\u7840\u8bbe\u65bd\u7684\u6240\u6709\u8005\u548c\u8fd0\u8425\u8005\u3002\u516c\u53f895%\u7684\u6536\u5165\u6765\u81ea\u4e8e\u4e0e\u76f8\u5bf9\u9ad8\u8bc4\u7ea7\u516c\u53f8\uff0875%\u7684\u5408\u7ea6\u5bf9\u65b9\u662f\u6295\u8d44\u7ea7\u6216\u6709\u62c5\u4fdd\u7684\u516c\u53f8\uff09\u7b7e\u8ba2\u7684\u670d\u52a1\u6536\u8d39\u6216\u7167\u4ed8\u4e0d\u8bae\u5408\u540c\u3002\u8be5\u516c\u53f8\u7b80\u76f4\u5c31\u662f\u52a0\u62ff\u5927\u897f\u90e8\u77f3\u6cb9\u751f\u4ea7\u9886\u57df\u7684\u6536\u8d39\u516c\u8def\u3002<\/p>\n

\u8fc7\u53bb\u5341\u5e74\uff0cPembina\u7684\u6bcf\u80a1\u6536\u76ca\u3001\u8c03\u6574\u540e\u6bcf\u80a1EBITDA\u4ee5\u53ca\u6bcf\u80a1\u80a1\u606f\u7684\u5e74\u590d\u5408\u589e\u957f\u7387\uff08CAGR\uff09\u5206\u522b\u4e3a9.3%\u300113%\u548c4.2%\u3002\u53d7\u75ab\u60c5\u5f71\u54cd\uff0c\u516c\u53f8\u4e0b\u8c03\u4e86\u77ed\u671f\u7684\u8d44\u672c\u652f\u51fa\uff0c\u8fd9\u5c06\u5927\u5e45\u589e\u52a0\u516c\u53f8\u7684\u81ea\u7531\u73b0\u91d1\u6d41\uff0c\u8fd9\u4e9b\u73b0\u91d1\u5c06\u6765\u53ef\u4ee5\u7528\u6765\u51cf\u503a\u548c\u56de\u8d2d\u80a1\u7968\u3002<\/p>\n

\u8be5\u80a1\u76ee\u524d\u7684\u80a1\u606f\u7387\u9ad8\u8fbe7.43%\uff0c\u800c\u6d3e\u606f\u7387\u53ea\u670960%\uff0c\u80a1\u606f\u6d3e\u53d1\u5b89\u5168\uff0c\u540c\u65f6\u8fd8\u6709\u671b\u53d7\u76ca\u4e8e\u6cb9\u4ef7\u7684\u590d\u82cf\u3002<\/p>\n

\u52a0\u62ff\u5927\u81ea\u7136\u8d44\u6e90\uff1a\u6700\u5927\u5e76\u4e14\u53ef\u80fd\u662f\u6700\u597d\u7684\u52a0\u62ff\u5927\u80fd\u6e90\u80a1<\/h2>\n

\u52a0\u62ff\u5927\u81ea\u7136\u8d44\u6e90Canadian Natural Resources\uff08TSX: CNQ<\/a>\uff09\uff08NYSE: CNQ<\/a>\uff09\u7684\u89c4\u6a21\u3001\u8d28\u91cf\u4ee5\u53ca\u8d44\u4ea7\u7684\u5bff\u547d\u5728\u5317\u7f8e\u90a3\u90fd\u662f\u9876\u5c16\u7684\u3002\u5728\u7edd\u5927\u591a\u6570\u7684\u8d85\u7ea7\u5de8\u5934\u5f53\u4e2d\uff0c\u52a0\u62ff\u5927\u81ea\u7136\u8d44\u6e90\u662f\u6781\u5c11\u6570\u57282020\u5e74\u7ef4\u6301\u80a1\u606f\u4e0d\u53d8\u7684\u80a1\u7968\u4e4b\u4e00\u3002\u4e09\u6708\u80a1\u5e02\u66b4\u8dcc\u4ee5\u6765\uff0c\u8be5\u80a1\u80a1\u4ef7\u5f3a\u52b2\u53cd\u5f39\uff0c\u4f46\u80a1\u606f\u7387\u4ecd\u9ad8\u8fbe5.7%\u3002<\/p>\n

\u52a0\u62ff\u5927\u81ea\u7136\u8d44\u6e90\u7684\u73b0\u91d1\u6d41\u6301\u5e73\u4ef7\u683c\u975e\u5e38\u4f4e\uff0c\u53ea\u6709WTI\u539f\u6cb9\u4ef7\u683c\u7684\u6bcf\u687631\u7f8e\u5143\u3002\u6cb9\u4ef7\u53ea\u8981\u9ad8\u4e8e\u8fd9\u4e00\u6c34\u5e73\uff0c\u8be5\u516c\u53f8\u5c31\u80fd\u521b\u9020\u5bcc\u4f59\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u7528\u4e8e\u6d3e\u606f\u3001\u51cf\u503a\u548c\u56de\u8d2d\u80a1\u7968\u3002\u6309\u7167$50\u5de6\u53f3\u7684WTI\u539f\u6cb9\u4ef7\u683c\u8ba1\u7b97\uff0c\u8be5\u80a1\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u6536\u76ca\u7387\uff08\u81ea\u7531\u73b0\u91d1\u6d41\/\u5e02\u503c\uff09\u9ad8\u8fbe16%\u3002\u7ba1\u7406\u5c42\u76f8\u4fe1\u8fd9\u4e00\u6bd4\u7387\u52302021\u5e74\u6216\u5c06\u5347\u81f320%\u3002<\/p>\n

\u8be5\u516c\u53f8\u8d1f\u503a\u603b\u91cf\u975e\u5e38\u53ef\u63a7\uff0c\u7ba1\u7406\u5c42\u9884\u8ba1\u8d1f\u503a\/\u8c03\u6574\u540eEBITDA\u5230\u5e74\u5e95\u5c06\u964d\u81f32.3\u3002\u6309\u7167\u8fd9\u4e00\u901f\u5ea6\uff0c\u516c\u53f8\u5e94\u8be5\u4e0d\u7528\u592a\u4e45\u5c31\u80fd\u5b9e\u73b0\u96f6\u8d1f\u503a\u3002\u60f3\u60f3\u770b\uff0c\u8be5\u516c\u53f8\u5230\u65f6\u5019\u4e0d\u518d\u6709\u5229\u606f\u652f\u51fa\uff0c\u81ea\u7531\u73b0\u91d1\u6d41\u6536\u76ca\u7387\u53c8\u8fd9\u4e48\u9ad8\uff0c\u54ea\u91cc\u53bb\u627e\u8fd9\u4e48\u597d\u7684\u80a1\u7968\u3002<\/p>\n

\u4e00\u53e5\u8bdd\u603b\u7ed3\uff0c\u8fd9\u53ea\u52a0\u62ff\u5927\u80fd\u6e90\u80a1\u662f\u4e00\u53ea\u76f8\u5bf9\u4f4e\u98ce\u9669\uff0c\u9ad8\u56de\u62a5\u7684\u80fd\u6e90\u590d\u82cf\u6982\u5ff5\u80a1\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u6700\u8fd1\u51e0\u5e74\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u80a1\u8868\u73b0\u6b20\u4f73\uff0c\u80fd\u6e90\u6295\u8d44\u6536\u76ca\u4e0d\u7406\u60f3\u5305\u62ec\u57fa\u672c\u9762\u3001\u653f\u6cbb\u4ee5\u53ca\u7ecf\u6d4e\u5c42\u9762\u7684\u539f\u56e0\u3002\u75ab\u60c5\u51b2\u51fb\u4e4b\u4e0b\uff0c\u52a0\u62ff\u5927\u80fd\u6e90 […]<\/p>\n","protected":false},"author":27,"featured_media":368260,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1521,430],"tags":[],"class_list":["post-368259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1521","category-trends-strategies-zh-hans","sectors-oil-gas-zh-hans","locations-canada-zh-hans","locations-us-zh-hans","exchange-nyse-zh-hans","exchange-tsx-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/368259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=368259"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/368259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/368260"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=368259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=368259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=368259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}