Oil gain: Increased earnings for Inpex on higher crude volumes
Inpex wraps up Ichthys dredging work
04 August 2014 04:56 GMT
BAM Clough completes Ichthys MOF
29 July 2014 12:15 GMT
Ichthys reaches halfway
27 June 2014 12:00 GMT
Inpex and JX Nippon on the move at Sabah play
13 June 2014 12:00 GMT
06 August 2014 09:36 GMT
The Tokyo-headquartered oil and gas company earned 52.4 billion Japanese yen ($512 million) between 1 April and 30 June compared to 29.9 billion in the year-ago period.
Net sales rose 12% over the same timeframe to 341.1 billion yen while average Brent oil prices rose 6.2% to $109.77 per barrel.
The yen’s value against the dollar depreciated by 3.4% compared to the second quarter of 2013, lifting the value of international sales while also causing costs to rise, Inpex said.
The company sold 20.31 million barrels of crude oil in the quarter, up 8.7%, and 75.51 billion cubic feet of natural gas, down 7.2%.
Inpex warned that it now expected sales to decline by around 1.1% for the year between 1 April 2014 and 31 March 2015, but said it would still raise net profit by a forecasted 4.1%.
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