TOKYO, Aug 7 (Reuters) - Japanese oil and gas explorer Inpex Corp raised its full-year profit forecast by up to 46% to a record 510 billion yen ($3.22 billion) on Friday, citing higher oil prices and strong output from its Ichthys LNG project in Australia.
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The company had forecast 2026 net profit of 350 billion yen to 450 billion yen in May. For January-June, it booked a 17.7% rise in net profit to 263 billion yen.
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Inpex also raised its full-year dividend forecast to 112 yen per share from 108 yen and announced a share buyback of up to 50 million shares, or 140 billion yen.
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Toshiaki Takimoto, senior executive vice president, said its crude oil sales from Abu Dhabi in the United Arab Emirates (UAE) fell by about 30% year on year in the six months to June 30 due to the Iran war. The company still aims to invest in boosting production in the region, he added.
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Shipments from the Ichthys project have remained smooth and are expected to exceed 120 cargoes this year, Takimoto said.
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One train at the Ichthys project will undergo planned maintenance for about a month and a half from mid-July 2027, the company said.
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Takimoto said the company remains on track to make a final investment decision on the Abadi LNG project in Indonesia in mid-2027.
($1 = 158.3800 yen)
Reporting by Yuka Obayashi Editing by David Goodman
Source: Reuters