Inpex Lifts Oil Price Forecast as Profits Tumble

摘要

Japan's Inpex saw its net profit dive by 67% year-on-year to 7.86 billion yen ($69.6 million) in the three months to June on the back of lower oil and gas prices and weaker revenues, which fell almost 20% despite higher output and sales volumes. The producer nonetheless remains optimistic about its profitability going forward, based on its new assumption that the Brent crude price will average $45.50 per barrel in fiscal 2016, which ends on Mar. 31, 2017, an upward revision of its previous $45/bbl forecast, and that the Japanese currency will strengthen.