{"id":577550,"date":"2025-05-28T20:47:57","date_gmt":"2025-05-29T03:47:57","guid":{"rendered":"https:\/\/nai500.com\/?p=577550"},"modified":"2025-05-28T20:47:57","modified_gmt":"2025-05-29T03:47:57","slug":"5-5-%e8%82%a1%e6%81%af-%e6%94%b6%e7%9b%8a%e7%8e%87-pembina-pipeline-%e8%82%a1%e7%a5%a8-%e5%90%ab%e9%87%91%e9%87%8f","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2025\/05\/5-5-%e8%82%a1%e6%81%af-%e6%94%b6%e7%9b%8a%e7%8e%87-pembina-pipeline-%e8%82%a1%e7%a5%a8-%e5%90%ab%e9%87%91%e9%87%8f\/","title":{"rendered":"\u9664\u4e865.5%\u7684\u80a1\u606f\u6536\u76ca\u7387\uff0cPembina Pipeline\u80a1\u7968\u7684\u542b\u91d1\u91cf\u9084\u5728\u4e0a\u5347"},"content":{"rendered":"<p>\u5728\u5168\u7403\u80fd\u6e90\u5e02\u5834\u6ce2\u52d5\u52a0\u5287\u3001\u5229\u7387\u6301\u7e8c\u9ad8\u4f01\u76842025\u5e74\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u57fa\u5efa\u5de8\u982d<strong><b>Pembina Pipeline<\/b><\/strong>\u00a0(<a href=\"https:\/\/nai500.com\/zh-hant\/%E8%82%A1%E7%A5%A8%E6%9F%A5%E8%A9%A2\/?qm_symbol=PPL%3ACA\">TSX:PPL<\/a>)\u6b63\u4ee5\u51765.5%\u7684\u80a1\u606f\u6536\u76ca\u7387\u548c\u7a69\u5065\u7684\u5546\u696d\u6a21\u5f0f\uff0c\u6210\u70ba\u50f9\u503c\u6295\u8cc7\u8005\u773c\u4e2d\u7684\u5bf6\u85cf\u80a1\u7968\u3002<\/p>\n<p>\u4f5c\u70ba\u52a0\u62ff\u5927\u897f\u90e8\u6700\u5927\u7684\u80fd\u6e90\u57fa\u790e\u8a2d\u65bd\u904b\u71df\u5546\u4e4b\u4e00\uff0cPembina\u64c1\u6709\u6a6b\u8de8\u52a0\u62ff\u5927\u548c\u7f8e\u570b\u7684\u9f90\u5927\u7ba1\u7db2\u7cfb\u7d71\u3002\u5176\u7368\u7279\u7684\u5546\u696d\u6a21\u5f0f\u4f7f\u5176\u6210\u70ba\u80fd\u6e90\u677f\u584a\u4e2d\u5c11\u6709\u7684\u201c\u6297\u5468\u671f\u201d\u6a19\u7684\u2014\u2014\u7d0490%\u7684\u6536\u5165\u4f86\u81ea\u9577\u671f\u670d\u52d9\u5354\u8b70\uff0c\u5305\u62ec\u201c\u7167\u4ed8\u4e0d\u8b70\u201d\u5408\u540c\u548c\u53d7\u76e3\u7ba1\u8cc7\u7522\u6536\u76ca\u3002<\/p>\n<p>\u9019\u7a2e\u6536\u5165\u7d50\u69cb\u57282025\u5e74\u4e00\u5b63\u5ea6\u5c55\u73fe\u51fa\u5f37\u5927\u97cc\u6027\uff1a\u8abf\u6574\u5f8cEBITDA\u540c\u6bd4\u589e\u957712%\u81f311.7\u5104\u52a0\u5143\uff0c\u6de8\u6536\u76ca\u5f9e\u4e00\u5e74\u524d\u76844.38\u5104\u52a0\u5143\u6500\u5347\u81f35.02\u5104\u52a0\u5143\uff0c\u7ba1\u9053\u904b\u8f38\u91cf\u9054\u5230\u5275\u7d00\u9304\u7684360\u842c\u6876\/\u65e5\u3002<\/p>\n<p><strong><b>\u6309\u6708\u6d3e\u606f\u7684<\/b><\/strong><strong><b>\u512a\u8cea\u80a1\u606f\u80a1\u7968<\/b><\/strong><\/p>\n<p>\u5728\u7576\u524d\u7684\u8cc7\u672c\u5e02\u5834\uff0c\u6309\u6708\u6d3e\u606f\u7684\u516c\u53f8\u672c\u5c31\u7a00\u5c11\uff0c\u80fd\u5920\u6301\u7e8c\u63d0\u9ad8\u80a1\u606f\u7684\u516c\u53f8\u66f4\u662f\u9cf3\u6bdb\u9e9f\u89d2\u3002Pembina\u8fd1\u671f\u5c07\u5b63\u5ea6\u80a1\u606f\u4e0a\u8abf3%\u81f3\u6bcf\u80a10.71\u52a0\u5143\uff0c\u5be6\u73fe\u9023\u7e8c8\u5e74\u80a1\u606f\u589e\u9577\u3002\u4ee5\u7576\u524d51.75\u52a0\u5143\u7684\u80a1\u50f9\u8a08\u7b97\uff0c\u80a1\u606f\u6536\u76ca\u7387\u90545.5%\uff0c\u9060\u8d85\u52a0\u62ff\u5927\u4e94\u5e74\u671f\u570b\u50b5\u6536\u76ca\u7387\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u8a72\u516c\u53f8\u7dad\u6301\u845790%\u7684\u5065\u5eb7\u6d3e\u606f\u7387\uff0c\u540c\u6642\u4fdd\u6301\u6bcf\u5e744-5\u5104\u52a0\u5143\u7684\u81ea\u7531\u73fe\u91d1\u6d41\u3002<\/p>\n<p><strong><b>\u6230\u7565\u5e03\u5c40\u672a\u4f86\u589e\u9577<\/b><\/strong><\/p>\n<p>Pembina\u57282024\u5e74\u5b8c\u6210\u4e86\u5169\u9805\u95dc\u9375\u6536\u8cfc\u2014\u2014\u5168\u8cc7\u63a7\u80a1Alliance\u7ba1\u9053\u548cAux Sable\u5408\u8cc7\u4f01\u696d\uff0c\u70ba\u516c\u53f8\u5e36\u4f86\u4e86\u7acb\u7aff\u898b\u5f71\u7684\u696d\u7e3e\u63d0\u5347\u3002\u66f4\u503c\u5f97\u95dc\u6ce8\u7684\u662f\u5176\u5728\u80fd\u6e90\u8f49\u578b\u65b9\u9762\u7684\u5e03\u5c40\uff1a\u6295\u8cc72.4\u5104\u52a0\u5143\u5efa\u8a2d\u7684K3\u71b1\u96fb\u806f\u7522\u8a2d\u65bd\u9810\u8a082026\u5e74\u6295\u904b\uff0c\u6bcf\u5e74\u53ef\u6e1b\u5c1118\u842c\u5678\u78b3\u6392\u653e\uff1b\u540c\u6642\u516c\u53f8\u6b63\u7a4d\u6975\u62d3\u5c55\u78b3\u6355\u96c6\u3001\u6c2b\u80fd\u904b\u8f38\u7b49\u65b0\u8208\u696d\u52d9\u9818\u57df\u3002<\/p>\n<p><strong><b>\u8cc7\u7522\u8ca0\u50b5\u8868\u5f70\u986f\u5b89\u5168\u908a\u969b<\/b><\/strong><\/p>\n<p>\u622a\u81f3\u4e0a\u4e00\u5b63\u5ea6\u672b\uff0cPembina\u624b\u63e15\u5104\u52a0\u5143\u73fe\u91d1\uff0c\u6de8\u8ca0\u50b5\/EBITDA\u6bd4\u7387\u63a7\u5236\u57283.8\u500d\u7684\u8212\u9069\u5340\u9593\u3002\u7ba1\u7406\u5c64\u78ba\u8a8d2025\u5e74\u5168\u5e74EBITDA\u6307\u5f15\u70ba40.5-43\u5104\u52a0\u5143\uff0c\u5f70\u986f\u7d93\u71df\u4fe1\u5fc3\u3002\u7576\u524d\u80a1\u50f9\u5c0d\u61c916.7\u500d\u7684\u52d5\u614b\u5e02\u76c8\u7387\uff0c\u8f03\u884c\u696d\u5e73\u5747\u6c34\u5e73\u6298\u50f915%\uff0c\u70ba\u50f9\u503c\u6295\u8cc7\u8005\u63d0\u4f9b\u4e86\u8db3\u5920\u7684\u5b89\u5168\u908a\u969b\u3002<\/p>\n<p>\u5c0d\u65bc\u5c0b\u6c42\u7a69\u5b9a\u73fe\u91d1\u6d41\u7684\u6295\u8cc7\u8005\u800c\u8a00\uff0cPembina Pipeline\u63d0\u4f9b\u4e86\u4e00\u500b\u96e3\u5f97\u7684\u6295\u8cc7\u6a5f\u6703\uff1a\u65e2\u80fd\u7372\u5f97\u9ad8\u65bc\u50b5\u5238\u7684\u73fe\u91d1\u56de\u5831\uff0c\u53c8\u4e0d\u5fc5\u627f\u64d4\u50b3\u7d71\u80fd\u6e90\u80a1\u7684\u5287\u70c8\u6ce2\u52d5\u3002\u5728\u5145\u6eff\u4e0d\u78ba\u5b9a\u6027\u7684\u5e02\u5834\u74b0\u5883\u4e2d\uff0c\u9019\u7a2e\u201c\u9032\u53ef\u653b\u3001\u9000\u53ef\u5b88\u201d\u7684\u7279\u8cea\uff0c\u4f7f\u5176\u6210\u70ba\u8cc7\u7522\u914d\u7f6e\u7d44\u5408\u4e2d\u4e0d\u53ef\u6216\u7f3a\u7684\u7a69\u5b9a\u5668\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5728\u5168\u7403\u80fd\u6e90\u5e02\u5834\u6ce2\u52d5\u52a0\u5287\u3001\u5229\u7387\u6301\u7e8c\u9ad8\u4f01\u76842025\u5e74\uff0c\u52a0\u62ff\u5927\u80fd\u6e90\u57fa\u5efa\u5de8\u982dPembina Pipeline\u00a0(TSX [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":561062,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426,1522],"tags":[2147,589,568,1860],"class_list":{"0":"post-577550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-market-news-zh-hant","8":"category-1522","9":"tag--zh-hant","10":"tag-589","11":"tag-zh-hant-blog-tag-","13":"sectors-oil-gas-zh-hant","14":"locations-canada-zh-hant","15":"exchange-tsx-zh-hant"},"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/577550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=577550"}],"version-history":[{"count":4,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/577550\/revisions"}],"predecessor-version":[{"id":577556,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/577550\/revisions\/577556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/561062"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=577550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=577550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=577550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}