BAKU, Azerbaijan, May 14
By Leman Zeynalova – Trend:
Net sales of crude oil by Japan’s INPEX Corporation increased by ¥11.4 billion, or 7 percent, to ¥174.4 billion in the first quarter of 2021, as compared to the same period of 2020, Trend reports citing the company.
Sales volume of crude oil decreased by 1,020 thousand barrels, or 3.6 percent, to 27,241 thousand barrels. The average sales price of overseas crude oil increased by US$7.57, or 14.3 percent, to US$60.38 per barrel. The average exchange rate of the Japanese yen against the U.S. dollar on consolidated net sales appreciated by ¥3.03, or 2.8 percent, to ¥106.13 per U.S. dollar.
Meanwhile, cost of sales for the three months ended March 31, 2021 decreased by ¥12.9 billion, or 10 percent, to ¥116.3 billion. Exploration expenses increased by ¥0.3 billion, or 42.1 percent, to ¥1.2 billion. Selling, general and administrative expenses increased by ¥1.4 billion, or 7.8 percent, to ¥20.0 billion. As a result, operating income increased by ¥5.1 billion, or 5.1 percent, to ¥106.0 billion. Other income decreased by ¥4.1 billion, or 16 percent, to ¥21.6 billion due to a decrease in equity in earnings of affiliates and others. Other expenses increased by ¥2.7 billion, or 14.5 percent, to ¥21.6 billion. As a result, ordinary income decreased by ¥1.6 billion, or 1.6 percent, to ¥106.0 billion. Total amount of current income taxes and deferred income taxes increased by ¥5.1 billion, or 6.8 percent, to ¥80.4 billion, and net loss attributable to non-controlling interests was ¥12.5 billion. As a result of the above effects, net income attributable to owners of parent for the three months ended March 31, 2021 increased by 4.6 billion, or 13.7 percent, to ¥38.1 billion.
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