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Japan's Inpex posts higher Q2 net income as sales surge

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Japan's Inpex posts higher Q2 net income as sales surge

Japan's Inpex Corp. reported Aug. 8 net income attributable to owners of the parent of ¥29.70 billion for the second quarter, topping ¥16.81 billion a year earlier.

Net sales climbed to ¥287.40 billion for the quarter, from ¥202.35 billion in the prior-year period. The oil and gas producer mainly attributed the better performance to higher sales volume.

Operating income totaled ¥146.28 billion during the quarter, increasing from ¥103.96 billion a year ago.

Crude oil and natural gas production totaled 539,300 barrels of oil equivalent per day for the quarter, jumping from 342,700 boe/d in the prior-year period.

As of Aug. 7, US$1 was equivalent to ¥105.70.