TOKYO : Japan Petroleum Exploration Co Ltd (Japex) on Friday lifted its full-year net profit forecast by 13 per cent on higher selling prices of natural gas and electricity to domestic customers, and also raised its annual dividend estimate. The company now expects net profit to reach a record 60 billi
TOKYO : Japan Petroleum Exploration Co Ltd on Friday lifted its full-year net profit forecast by 13 per cent on higher selling prices of natural gas and electricity to domestic customers, and also raised its annual dividend estimate.
Japan's LNG import prices have risen in the current financial year in a reflection of soaring global spot LNG prices, but Japex was able to avoid a surge in its procurement costs as it buys the fuel mostly under term contracts, he said. For the nine months ended Dec. 31, net profit came to 43.3 billion yen, against a loss of 85.1 billion yen a year earlier.
The company expects a 4.2 billion yen profit from the stake in the January-October period, before SODECO joined with the new Russian operator of the project, Yamashita said.
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