Abstract: Five international oil majors of Exxon-Mobil, BP, Shell, Chevron and Total saw a good turn for their 2018 business results. Concretely speaking, the oil and gas production have been kept rising for five consecutive years. The processing amount of crude oil and sales of oil products were kept from declining and became gradually stable, with the business revenues and net profits growing rapidly. The backbone position of upstream profit contribution was further consolidated. The capital expenditure saw a significant growth for the first time in four years. The bouncing stage of oil prices was used to handle the non-core assets. With adequate cash flow, the companies were capable of making large-scale acquisitions and buying back shares. International oil majors have obviously changed their development models in this new period. They have committed themselves to increase reserves and production cost-effectively, promoted transformation of their growth patterns with digitalization and intelligence, optimized operation for improvement of sharing, made integration of businesses for higher efficiency. It is good for the Chinese oil and gas companies to borrow those successful practices. It is proposed that the domestic companies should firmly adhere to the bottom-line of business growth, establish the assets capable of sustainable development worldwide through a multiple of channels, bring about business development on the basis of innovation, improve independent innovative capability with higher information and intelligence levels, enhance optimization of project operation, and accelerate construction of the standardization and sharing system.

摘要： 埃克森美孚、BP、壳牌、雪佛龙、道达尔5 家国际大石油公司2018 年的经营业绩明显好转， 具体表现为：油气产量连续5 年保持增长，原油加工量和油品销售量由降趋稳；营业收入和净利润均较快 增长，上游利润贡献主体地位进一步巩固；资本支出4 年来首次大幅增长，利用油价回升期处置非核心资 产；自由现金流充裕，具备实施大型并购和股票回购的能力。新时期，国际大石油公司发展方式发生明显 转变，坚持有效益的增储上产，以数字化、智能化驱动增长方式转型，优化运营推进共享，实现业务整合、 挖潜增效。这些成功做法值得中国油气公司借鉴，建议国内公司应坚定增量业务的效益底线，多途径在全 球配置可持续发展的资产组合；大力实施创新驱动，提升自主创新能力和信息化、智能化水平；加大项目 优化运营力度，加快标准和共享体系建设。

关键词: 国际大石油公司, 经营业绩, 发展战略, 资本运作, 增储上产, 技术创新, 智能化, 价值创造