Latest news with #Inpex
CNA
a day ago
- Business
- CNA
Japan's Inpex ups annual profit forecast on strong Ichthys LNG production
TOKYO :Japan's biggest oil and gas explorer Inpex on Friday raised its annual net profit forecast by 23 per cent, citing strong production at its key Ichthys liquefied natural gas project in Australia, higher oil price assumptions and a weaker yen. The company now expects a net profit of 370 billion yen ($2.5 billion) for 2025, up from its May projection of 300 billion yen and above analysts' estimate of 324 billion yen in an LSEG poll. "The revision reflected steady production at the Ichthys project," Daisuke Yamada, senior managing executive officer, told a news conference, adding stronger oil prices and the yen's depreciation also contributed. Inpex expects Ichthys to ship 116 LNG cargoes this year, matching last year's volume, despite a planned one-and-a-half-month maintenance in the second half, Yamada said. The company revised its Brent oil price assumption to $69 per barrel from $65, while adjusting its yen assumption to 147 yen per U.S. dollar from 144 yen. With the improved outlook, Inpex raised its annual dividend forecast to 100 yen per share, up from the previous estimate of 90 yen and last year's actual dividend of 86 yen. The company also announced a share buyback of up to 50 million shares, or 4.17 per cent of outstanding shares, with a maximum value of 80 billion yen, scheduled from August 12 to December 31. "Strengthening the structural profit base along with improving resilience to low oil prices and yen appreciation has built confidence in future earnings," Yamada said, citing this as the reason behind the increased shareholder returns. For the six months ended June, Inpex's net profit increased 5.1 per cent to 223.53 billion yen. The company aims to make a final investment decision on the Abadi LNG project in Indonesia by 2027, with peak production expected at 9.5 million metric tons a year. It plans to accumulate 400-600 billion yen for development preparation from 2025 to 2027, Yamada said.
Reuters
a day ago
- Business
- Reuters
Japan's Inpex ups annual profit forecast on strong Ichthys LNG production
TOKYO, Aug 8 (Reuters) - Japan's biggest oil and gas explorer Inpex (1605.T), opens new tab on Friday raised its annual net profit forecast by 23%, citing strong production at its key Ichthys liquefied natural gas project in Australia, higher oil price assumptions and a weaker yen. The company now expects a net profit of 370 billion yen ($2.5 billion) for 2025, up from its May projection of 300 billion yen and above analysts' estimate of 324 billion yen in an LSEG poll. "The revision reflected steady production at the Ichthys project," Daisuke Yamada, senior managing executive officer, told a news conference, adding stronger oil prices and the yen's depreciation also contributed. Inpex expects Ichthys to ship 116 LNG cargoes this year, matching last year's volume, despite a planned one-and-a-half-month maintenance in the second half, Yamada said. The company revised its Brent oil price assumption to $69 per barrel from $65, while adjusting its yen assumption to 147 yen per U.S. dollar from 144 yen. With the improved outlook, Inpex raised its annual dividend forecast to 100 yen per share, up from the previous estimate of 90 yen and last year's actual dividend of 86 yen. The company also announced a share buyback of up to 50 million shares, or 4.17% of outstanding shares, with a maximum value of 80 billion yen, scheduled from August 12 to December 31. "Strengthening the structural profit base along with improving resilience to low oil prices and yen appreciation has built confidence in future earnings," Yamada said, citing this as the reason behind the increased shareholder returns. For the six months ended June, Inpex's net profit increased 5.1% to 223.53 billion yen. The company aims to make a final investment decision on the Abadi LNG project in Indonesia by 2027, with peak production expected at 9.5 million metric tons a year. It plans to accumulate 400-600 billion yen for development preparation from 2025 to 2027, Yamada said. ($1 = 147.6600 yen)
Reuters
3 days ago
- Business
- Reuters
Inpex awards more contracts in engineering design for Indonesia's Abadi LNG project
TOKYO, Aug 6 (Reuters) - Japanese oil and gas explorer Inpex Corp (1605.T), opens new tab said on Wednesday it has awarded additional contracts for early-stage design work on its $20 billion Abadi liquefied natural gas project in Indonesia's Masela block. In April, the firm launched a front-end engineering design (FEED) process to assess technical details and costs to build the facilities needed to extract and process natural gas from the Abadi gas field and convert it to LNG at an onshore plant. Following its announcement of some initial awards on Monday, Inpex said that two contractor consortiums - one led by Japan's JGC Holdings (1963.T), opens new tab and the other by U.S. engineering firm KBR (KBR.N), opens new tab - have been selected to conduct FEED work for the onshore LNG facility. The two groups will work in parallel under a so-called "dual FEED" framework to foster competition. The consortium that provides the better technical and commercial proposal will be awarded the subsequent Engineering, Procurement and Construction (EPC) contract, Inpex said. The FEED scope also includes work related to carbon capture and storage (CCS), it said. The move signals progress toward a final investment decision on the project, which is expected to produce at its peak 9.5 million metric tons of LNG a year.
Reuters
5 days ago
- Business
- Reuters
Inpex awards some contracts in engineering design for Indonesian LNG project
TOKYO, Aug 4 (Reuters) - Japanese oil and gas explorer Inpex Corp (1605.T), opens new tab said on Monday it has awarded a few contracts for early-stage design work for its $20 billion Abadi liquefied natural gas project in the Masela block in Indonesia. The move shows that the early design process is making progress toward the final investment decision for the project, which is expected to produce at its peak 9.5 million metric tons of LNG a year. In April, the Japanese explorer started the front-end engineering design process, reviewing and defining the technical details and costs for building the facilities needed to extract and process natural gas from the Abadi gas field and turn it into LNG at an onshore plant. The front-end engineering design work consists of four parts -- the onshore LNG plant, a floating production, storage and offloading facility, subsea umbilicals, risers and flowlines, and gas export pipeline. Inpex has awarded contracts for all but the onshore LNG plant, according to a statement. For the floating production, storage and offloading facility, two contractor teams -- one led by France's Technip Energies ( opens new tab and another led by Italy's Saipem ( opens new tab -- will work in parallel but separately in a so-called "dual FEED" to ensure a competitive environment is maintained. A similar approach will be used for the onshore LNG plant, with final contracts to be decided later, Inpex said. Australian engineering and construction company Worley ( opens new tab has won the contracts for the gas export pipeline and subsea umbilicals, risers and flowlines. Inpex still aims to make a final investment decision to proceed with the project in 2027, and hopes to begin production in the early 2030s, a company spokesperson said. The Japanese company operates the Abadi project and controls a 65% stake in it. Indonesia's Pertamina and Malaysia's Petronas took over Shell's (SHEL.L), opens new tab 35% holding in the project in 2023.
Nikkei Asia
08-07-2025
- Business
- Nikkei Asia
Japan's Inpex weighs Indonesia hiring spree for $20bn LNG project
Energy Energy group prepares for final investment decision on Abadi gas field The Abadi project involves drilling for gas offshore and sending it to onshore facilities via pipeline. (Inpex) KOKI IZUMI JAKARTA -- Japanese energy group Inpex is looking to hire thousands of workers in Indonesia as it moves closer to building the estimated $20 billion Abadi liquefied natural gas project. The project, being pushed forward by a consortium led by Inpex, is centered on a gas field off the coast of Yamdena island in Maluku province, about 2,700 kilometers east of the capital Jakarta.
