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INPEX sees decrease in net natural gas sales

Oil&Gas Materials 14 May 2021 13:09 (UTC +04:00)
INPEX sees decrease in net natural gas sales

BAKU, Azerbaijan, May 14

By Leman Zeynalova – Trend:

Net sales of natural gas by Japan-based INPEX decreased by ¥17.4 billion, or 21.3 percent, to ¥64.6 billion in Q1 2021, as compared to the first three months of 2020, Trend reports with reference to the company.

Sales volume of natural gas decreased by 896 million cf, or 0.7 percent, to 120,356 million cf. Sales volume of overseas natural gas decreased by 2,504 million cf, or 2.6 percent, to 95,293 million cf, and sales volume of domestic natural gas increased by 43 million ㎥, or 6.9 percent, to 672 million ㎥ (25,063 million cf).

The average sales price of overseas natural gas decreased by US$0.89, or 19.2 percent, to US$3.74 per thousand cf, and the average sales price of domestic natural gas decreased by ¥12.40, or 24.5 percent, to ¥38.29 per ㎥. 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.

The decrease of ¥5.9 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil and natural gas, a decrease in sales volume pushing sales down of ¥4.8 billion, an increase in unit sales price contributing ¥4.8 billion to the increase, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥6.0 billion, and an increase in net sales excluding crude oil and natural gas of ¥52 million. 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.

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