The Financial Analysis On Offshore Oil Engineering Co.,Ltd. Under The Harvard Framework

Under the current international situation,the whole oil industry is in a downturn.The international oil price began to fall from the June,2014,and remains concussion at a low price level.The major oil corporations also cut their exploration and development investment,which result to the increasingly fierce competition situation among petroleum engineering technology service enterprises.It is so significant for Chinese petroleum engineering technology service enterprises to analysis their financial activities from a strategic point of view before designing a suitable long-term development strategy if they hope to survive from the complicated and fierce industrial environment.Taking the Offshore Oil Engineering Co.,Ltd.(hereinafter referred to as COOEC)as instance,this article comprehend its financial health status and operating performance based on strategy level by analyzing its financial statements from 2010 to 2014 combined with other twenty corporations' statistics as counterparts.This article,through its research,finds that the COOEC is well-run as a whole,but there is a gap between COOEC and international leading enterprises in profitability,management cost control and international competitiveness,which restricts its development.Last but not the least,this article put forward suggestions from following five aspects,coping with low oil price,enhancing international competitiveness,responding to Deepwater market risk,improvement of the ability against the risk of exchange rate and promotion in self operating capability.