德银-欧洲-石油与天然气行业-欧洲整装油2017Q4业绩预览-20180128-25页

DeutscheBankMarketsResearchEuropeUnitedKingdomOil&GasExploration&ProductionIndustryEuropeanIntegratedOilsDate28January2018IndustryUpdateQ4ResultsPreview:Fromscriptobuy-backStatementswillbemoreimportantthanresults________________________________________________________________________________________________________________DeutscheBankAG/LondonDeutscheBankdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Thus,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.DISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.LucasHerrmann,ACAResearchAnalyst(+44)20754-73636lucas.herrmann@db.comYuriyKukhtanychResearchAssociate(+44)207545-1200yuriy.kukhtanych@db.com