BAKU, Azerbaijan, August 13
By Leman Zeynalova – Trend:
Net sales of crude oil by Japan’s INPEX increased by ¥129.0 billion, or 52.4 percent to ¥375.3 billion, and sales volume of crude oil decreased by 5,440 thousand barrels, or 8.9 percent, to 55,454 thousand barrels in H1 2021, Trend reports with reference to the company.
Net sales for the six months ended June 30, 2021 increased by ¥106.7 billion, or 27.2 percent, to ¥498.3 billion from the corresponding period of the previous fiscal year due to an increase in sales price of crude oil.
The average sales price of overseas crude oil increased by US$25.44, or 68.3 percent, to US$62.71 per barrel.
The increase of ¥106.7 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 ¥28.1 billion, an increase İn unit sales price contributing ¥135.9 billion to the increase, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥2.1 billion, and an increase in net sales excluding crude oil and natural gas of ¥1.1 billion.
Meanwhile, cost of sales increased by ¥7.7 billion, or 3.4%, to ¥233.7 billion. Exploration expenses decreased by ¥2.4 billion, or 51.4%, to ¥2.2 billion. Selling, general and administrative expenses increased by ¥1.4 billion, or 4.0%, to ¥38.6 billion. As a result, operating income increased by ¥99.8 billion, or 80.7%. to ¥223.6 billion.
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