Inpex Revises Earnings Guidance for the Year Ending 31 March 2015
Mar 23 15
Inpex has been forced to trim its profit forecast for the 2014-15 fiscal year ending 31 March 2015 because of JPY 35 billion ($294 million) of foreign upstream asset write-downs. The company revised the firm's forecast profit to JPY 76 billion for 2014-15, down by JPY 44 billion from its previous forecast because of weaker oil prices. The company attributed the revision to a JPY 27.5 billion write-down of its Joslyn oil sands project in Canada and another JPY 7.5 billion write-down in the value of the JPDA06-105 block in the Timor Sea. Inpex posted a JPY 184 billion profit in 2013-14.
ADNOC Seeks Final Bids For Emirate's Onshore Fields
Feb 9 15
Abu Dhabi National Oil Company (ADNOC) is seeking final bids for concessions to the emirate's largest onshore fields by February 10, 2015, said Abdullah Nasser Al Suwaidi, Director General of ADNOC, according to Bloomberg. The offers must match terms of the agreement ADNOC reached with Total SA, Al Suwaidi said at a conference in Dubai. Al Suwaidi declined to say if any more bidders than Total have made final offers and he also declined to specify the terms of ADNOC’s agreement with Total. Other companies ADNOC invited to bid include Inpex Corporation (TSE:1605), China National Petroleum Corporation, Statoil ASA (OB:STL), Eni SpA (BIT:ENI), OJSC OC Rosneft (LSE:ROSN), Occidental Petroleum Corporation (NYSE:OXY), and Korea National Oil Corporation.
Inpex Corporation Announces Consolidated Earnings Results for the Nine Months Ended December 31, 2014; Revises Earnings Guidance for the Year Ending March 31, 2015; Provides Year End Dividend Guidance for Fiscal 2015
Feb 8 15
Inpex Corporation announced consolidated earnings results for the nine months ended December 31, 2014. For the period, the company reported net income of ¥101,783 million or ¥69.70 per basic share, ordinary income was ¥492,358 million, operating income of ¥452,698 million and net sales of ¥926,597 million compared to net income of ¥107,068 million or ¥73.32 per basic share, ordinary income was ¥543,748 million, operating income of ¥547,277 million and net sales of ¥996,901 million for the same period a year ago. Income before income taxes and minority interests was ¥492,358 million compared to ¥543,748 million for the same period a year ago. Net cash provided by operating activities was ¥130.3 billion, increased by ¥3.4 billion from the corresponding period of the previous fiscal year. This is due mainly to decreases in accounts receivable-trade and income taxes paid, despite a decrease in income before income taxes and minority interests. Payments for purchases of tangible fixed assets were ¥338,154 million compared to ¥234,547 million for the same period a year ago. Payments for purchases of intangible assets were ¥4,530 million compared to ¥2,676 million for the same period a year ago.
The company revised earnings guidance for the year ending March 31, 2015. For the period, the company expected net income of ¥120,000 million or ¥82.17 per share, ordinary income was ¥551,000 million, operating income of ¥505,000 million and net sales of ¥1,153,000 million compared with preciously expected net income of ¥160,000 million, ordinary income was ¥656,000 million, operating income of ¥592,000 million and net sales of ¥1,262,000 million.
The company also provided year end dividend guidance for fiscal 2015. For the period, the company expected dividend of ¥9.00 per share.