TOKYO (dpa-AFX) - Inpex Corporation (IPXHY), a Japanese oil and gas exploration and production company, on Friday recorded a rise in net income for the first half, helped by decreased income tax expense. However, the oil producer posted a fall in revenue due to a decline in the crude oil prices.
For the six-month period to June 30, Inpex reported a net income of JPY 223.527 billion, or JPY 186.52 per share, less than JPY 212.586 billion, or JPY 169.14 per share, in the same period last year.
Income tax expense narrowed to JPY 402.675 billion from the prior year's JPY 502.263 billion. Profit before tax was JPY 644.984 billion, less than JPY 713.216 billion in the previous year. Operating income was JPY 616.882 billion, compared with JPY 700.071 billion a year ago.
Revenue was JPY 1.048 trillion, down from JPY 1.190 trillion in 2024.
Looking ahead, for the full year, the company has revised up its guidance to reflect safe and reliable operations in the Ichthys Project and other key projects, as well as updated assumptions on the sales volume, crude oil prices, and foreign exchange rates from the third quarter onwards.
For the 12-month period to December 31, Inpex now expects a net profit of JPY 370 billion, down 13.4% from the previous year. Income per basic share is anticipated to be at JPY at 308.96. Annual revenue is now expected to be at JPY 1.995 trillion, down 12% from last year.
Earlier, the company had projected an annual net income of JPY 300 billion, on revenue of JPY 1.822 trillion.
For the full year, the energy company now aims to pay a total dividend of JPY 100 per share, up from last year's JPY 86 per share.
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