DOCSLIB.ORG

[Presentation] Presentation of Consolidated Financial Results For

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
[Presentation] Presentation of Consolidated Financial Results For Note: The following report is an English translation of the Japanese-language original. PresentationPresentation ofof ConsolidatedConsolidated ffinancialinancial rresultsesults forfor eendednded MarMarchch 3311,, 20120111 MayMay 1616 ,, 20112011 Japan Petroleum Exploration Co., Ltd. copyright©2011 JAPAN PETROLEUM EXPLORATION Co.,LTD. All rights reserved. Cautionary statement Any information contained herein with respect to JAPEX’s plans, estimates, strategies and other statements that are not historical facts are forward-looking statements about the future performance of JAPEX. Readers should be aware that actual results and events may differ substantially from these projections due to various factors. The provision of this document should not be construed as a solicitation for investment. Copyright : All information contained herein is protected by copyright, and may not be copied or reproduced without the prior consent of JAPEX. Note: The following abbreviations are used within this document: 1H = First half (1Q-2Q) 2H = Second half (3Q-4Q) (a) = Actual result (e) = Estimate Any inquiries about the information contained herein or other Investor Relations questions should be directed to: Investor Relations Group, Media & Investor Relations Department, Japan Petroleum Exploration Co., Ltd. TEL: +81-3-6268-7111 2 ContentsContents １．１．BusinessBusiness OverviewOverview ２．２．ActualActual resultsresults forfor FY2011FY2011 ３．３．EstimateEstimatess forfor FY2012FY2012 ４．４．NewNew MMeeddiumium--ttermerm BusinessBusiness PlanPlan （（ FYFY20120122 -- FY2016FY2016 ）） 3 BusinessBusiness OverviewOverview PresidentPresident OsamuOsamu WatanabeWatanabe 4 Business Overview Trends in Crude oil prices and Foreign exchange rates $140 ¥130 $130 ¥125 $-denominated JCC price $/bbl $120 (left axis) ¥120 $110 ¥115 \ /$ 】 $100 ¥110 Exchange rate \/$ $90 ¥105 (right axis) $80 ¥100 $70 ¥95 Exchange rate 【 $60 ¥90 [JCC Price] $-denominated $/bbl $50 ¥85 $40 ¥80 2007-04 2007-05 2007-06 2007-07 2007-08 2007-09 2007-10 2007-11 2007-12 2008-01 2008-02 2008-03 2008-04 2008-05 2008-06 2008-07 2008-08 2008-09 2008-10 2008-11 2008-12 2009-01 2009-02 2009-03 2009-04 2009-05 2009-06 2009-07 2009-08 2009-09 2009-10 2009-11 2009-12 2010-01 2010-02 2010-03 2010-04 2010-05 2010-06 2010-07 2010-08 2010-09 2010-10 2010-11 2010-12 2011-01 2011-02 2011-03 2011-04 Japan Crude Cocktail (JCC) Price in the first 20 days of April 2011 on a prompt report basis : USD 111.20 / bbl Yen 82.45 / USD 5 Business Overview Actual results for FY2011 and Estimate for FY2012 (Highlight) ■ Actual results for FY2011 ( vs FY2010) Billion ￥ 223.4 FY2010 FY2011 60 225 [ Billion ￥] change Net Sales (right axis) (a) (a) 55 220 Net Sales 179.7 199.6 19.9 11% Operating income (left axis) Operating income 13.1 13.8 0.7 5% 50 215 Ordinary income (left axis) Ordinary income 23.2 17.1 (6.1) (26%) Net income (left axis) 45 210 Net income 17.9 10.0 (7.9) (44%) JCC price 67.50 82.69 15.19 23% 40 205 USD/bbl 199.6 Exchange rate 35 200 92.74 86.24 (6.50) (7%) Yen/USD Billion30 ￥ 195 ■ Estimate for FY2012 ( vs FY2011) FY2011 FY2012 [ Billion ￥] change 25 190 (a) (e) Net Sales 199.6 223.4 23.8 12% 20 23.2 185 Operating income 13.8 11.7 (2.1) 15% 15 180 (9%) 17.9 Ordinary income 17.1 15.6 (1.5) 17.1 179.7 15.6 Net income 10.0 11.5 1.5 15% 10 13.1 13.8 175 11.7 11.5 JCC price 10.0 82.69 90.00 7.31 9% 5 170 USD/bbl Exchange rate 86.24 85.00 (1.24) (1%) - 165 Yen/USD FY2010 FY2011 FY2012 (e)(e) 6 Business Overview Domestic exploration plan for FY2012 ◆Exploration well drilling schedule FY2012 Total ●Exploration well: 1 well 1Q 2Q 3Q 4Q Depth ■Seismic survey : 2 sites 4 5 6 7 8 9 10 11 12 1 2 3 Akeno A1 5,070m Exploration well Akeno A1 (5,070m) ◆ Geophysical prospecting survey plan : 2sites 2D seismic survey 25km in Niigata Prefecture (Yoneyama) 2D seismic survey 39km in Yamagata Prefecture (Southern Mt. Chokai) ◇Result for FY2011 Southern Mt. Chokai 2D (39km) FY2011 Total 1Q 2Q 3Q 4Q Depth 4 516 7 8 9 10 11 12 2 3 Akebono SK-5D 4,975m Succeeded Extension well Yoneyama 2D (25km) Otomo SK-1D 3,102m Abandoned Exploration well 7 Business Overview CAPEX plan for FY2012 Billion ￥ Billion ￥ FY12 [ Billion ￥] FY08 FY09 FY10 FY11 45 45 (e) CAPEX 41.7 30.9 28.8 21.9 30.7 40 40 5.1 Depreciation and 16.6 21.5 23.2 24.5 23.8 amortization 35 35 Main items of CAPEX for FY2012 30 0.7 30 4.7 24.5 23.8 Domestic CAPEX ¥ 12.0 billion 25 25 ◆Hokkaido 18.7 - LNG receiving terminal for domestic vessels 20 36.6 3.1 20 21.5 23.2 - CO2 emission reduction facility (Both projects have continued from FY2010) 15 30.2 15 ◆Acquire a new facility for disaster recovery from the 16.6 Great East Japan Earthquake 24.1 10 18.8 10 Overseas CAPEX ¥ 18.7 billion ◆ 12.0 Iraq 5 5 -Development of Garraf oil field ◆Canada -Improvement of production facility for the oil sand - - project FY08 FY09 FY10 FY11 FY12 ◆Indonesia CAPEX（overseas） (e) -Development of gas field (Ache Block A) CAPEX（domestic） Depreciation and amortization 8 Business Overview Overseas business : Activities in strategic regions Canada Sakhalin -Oil sands development -Sakhalin 1 Project (production & exploration (reserve evaluation)) (production) North Africa Middle East -Iraq : Garraf oil field (development) -Legend- Southeast Asia Strategic regions -Kangean Block (production & development) Blocks in which our consolidated subsidiaries, -Ache Block A (development & exploration) equity-method affiliates, etc. hold interest. -Buton (exploration) -Universe Gas & Oil (production) Iran : JJI S&N B.V. -Japan CBM (exploration) The project is planned to be closed after receiving the final reward from National Iranian Oil Company. 9 Business Overview Current status of overseas business ① Canada oil sands ■Areas in which JACOS holds interest in oil sands leases Canada Oil Sands Co., Ltd. (CANOS) Project company (86.64% owned by JAPEX ) Japan Canada Oil Sands Ltd. (JACOS) Operator (Local subsidiary, wholly owned by CANOS) Block Interest Hangingstone 3.75 section -Producing around 7,000 - 8,000 bbl/d 100% -Cumulative production of 23.89 million bbl (as of end-January, 2011) Expansion project of undeveloped part of Hangingstone area 75% -Additional production of 35,000 bbl/d at the maximum Schedule Applied development approval Apr. 2010 Started FEED 2011 Make FID after acquiring development approval Winter of Start construction 2011 to 2012 2013 ■Areas where oil sand resources were evaluated: The Hangingstone area, the Chard area, the Corner area and the Thornbury area End-2014 Plan to commence production were evaluated. The evaluated areas consist of solely owned and jointly owned areas, are 788.4km2 (gross) or 373.4km2 (net). Bitumen also exists in the Liege area, but there is no bitumen development plan at present due to the subsurface ■ Contingent resources of undeveloped oil sands areas held by conditions of its existence. JACOS : 1,717 million bbl (as of end-December 2008) 10 Business Overview Current status of overseas business ② Sakhalin 1 Project Sakhalin 1 Consortium Interest Exxon Neftegas Ltd. 30% Sakhalin Oil and Gas Development Co., Ltd. (SODECO) 30% Odoptu Minister of Economy, Trade and Industry : 50.00% JAPEX : 14.46% ITOCHU Corp. : 14.46% Marubeni Corp. : 11.68% INPEX : 5.74% ITOCHU Oil Exploration Co., Ltd. : 3.66% ONGC 20% SMNG-Shelf 11.5% Rosneft - Astra 8.5% Arkutun-Dagi Oct. 2005 Chayvo oil and gas field Commenced production of crude oil Oct. 2006 Commenced exports of Sokol crude Feb. 2007 Achieved peak gross production target (250,000 bbl/d) Jun. 2008 Achieved cumulative production of 100 million bbl Sep. 2010 Odoptu oil and gas field Chayvo Commenced production of crude oil Arkutun-Dagi oil and gas field Now under preparation for development 11 Business Overview Current status of overseas business ③ Iraq Garraf development project North Oil PETRONAS JAPEX Company Contractors (Operator) Contract type Development and Production Service Contract (NOC) Counterparty South Oil Company (SOC) Payment share 60% 40％ - 20 years Contract term Participating interest 45％ 30％ 25％ （may be extended for maximum 5 years） 2010 The contract effect on Feb.10, 2010 2011 Commence initial production at 2012 50,000 bbl/d ～ Increase production gradually 2016 Achieve plateau production target of 2017 230,000 bbl/d Garraf ■ Expected cumulative production during the contract term : around 1.3 billion bbl 12 Business Overview Current status of overseas business ④ Indonesia: Kangean Block Jakarta Kangean Energy Indonesia Ltd. (KEI) Project Surabaya and two other companies. Java Island company (Equity-method affiliates) Pagerungan Utara oil field (Production) West Kangean gas field (Exploration) Kangean Island Pagerungan gas field (Production) East Java Pipeline Sepanｊang Island oil field (Production) TSB gas field (Development) To Surabaya Block Kangean Block (offshore East Java） Interest 25% Operator KEI ■ Current gross production : Crude oil equivalent of around 10,000 boe/d. ■ Pagerungan Utara oil field : Commenced production of 6,000 bbl/d on January 2011. □ TSB gas field : Plan to commence production of 300 million cf/d (around 50,000 boe/d in crude oil equivalent) in 1H 2012. ■ Plan to expand gross production to around 60,000 boe/d through the above additional production. ■ Production Sharing Contract (PSC) : Effective till 2030. 13 Business Overview Current status of overseas business ⑤ Indonesia: Ache Block A Project company Japex Block A Ltd. Interest 16.67% Ache Block A Block (northern Sumatra) Ache Block A Operator Medco Around 100 million cf/d Gross production (around 20,000 boe/d in crude oil equivalent ） Jakarta 2010 Approved extension PSC Concluded extension PSC Contract term : 20 years from September 1, 2011 2011 Start development activities to commence gas production 2012 2013 Alur Rambong gas field Julu Rayeu gas field Gross production of around 100 million cf/d Alur Siwah gas field 14 Business Overview Current status of overseas business ⑥ Indonesia: Buton Block Project company Japex Buton Ltd.
Load more

Recommended publications
  • Toshiyuki Hirata
    Ch F-X ang PD e 1 w Click to buy NOW! w m o w c .d k. ocu-trac TOSHIYUKI HIRATA Date and place of birth (if available): Kagoshima, Japan in January 5, 1958 Date and place of interview: October 24th, 2012 at the Japan Canada Oil Sands Limited Offices in Downtown, Calgary. Name of interviewer: Peter McKenzie-Brown Name of videographer: Peter Tombrowski Full names (spelled out) of all others present: N/A Consent form signed: Yes Transcript reviewed by subject: Interview Duration: 1 hour and 3 minutes Initials of Interviewer: PMB Last name of subject: HIRATA PMB: It is October 24th, 2012. I am meeting with Toshi Hirata who is the President of Japan Canada Oil Sands Limited which is also called JACOS. We are meeting in the JACOS offices in downtown Calgary. Thank you for agreeing to meet with us today. HIRATA: You are welcome. PMB: You have been and this has been a great surprise to me, that your company became a partner involved in the oil sands back in the 1970s, ’78 or something like that. No other country outside of North America and Europe showed any interest in the oil sands that long ago. Can you tell me a little bit about that, please? HIRATA: Okay. It started with oil shock in 1973. As you know, the oil price suddenly increased probably three or four times at that time because OPEC countries, they stopped exporting oil to the world. PMB: This was because of the Oil Embargo related to the Israeli/Arab War? HIRATA: Arab, yes.
    [Show full text]
  • Presentation of Consolidated Financial Results Ended March 31, 2010
    Actual Results Note: The following report is an English translation of the Japanese-language original. Presentation of Consolidated Financial Results Ended March 31, 2010 May 17, 2010 Japan Petroleum Exploration Co., Ltd. 1 copyright© JAPAN PETROLEUM EXPLORATION Co.,LTD. All rights reserved. Cautionary Statement Any information contained herein with respect to JAPEX’s plans, estimates, strategies and other statements that are not historical facts are forward-looking statements about the future performance of JAPEX. Readers should be aware that actual results and events may differ substantially from these projections due to various factors. The provision of this document should not be construed as a solicitation for investment. Copyright: All information contained herein is protected by copyright, and may not be copied or reproduced without the prior consent of JAPEX. Note: The following abbreviations are used within this document: 1H = First half (1Q-2Q) 2H = Second half (3Q-4Q) (a) = Actual result (e) = Estimate Any inquiries about the information contained herein or other Investor Relations questions should be directed to: Investor Relations Group, Media & Investor Relations Department, Japan Petroleum Exploration Co., Ltd. TEL: +81-3-6268-7111 2 Contents 1.1. Business Overview and Follow-up of Mid-Term Business Plan 2.2. Consolidated Financial Results for the Fiscal Year Ended March 31, 2010 3.3. Forecasts for the Fiscal Year Ending March 31, 2011 3 Business Overview and Follow-up of Mid-Term Business Plan President Osamu Watanabe
    [Show full text]
  • Corporate Report 2019
    Japan Petroleum Exploration Co., Ltd. Japan Petroleum Japan Petroleum Exploration Co., Ltd. Corporate Report 2019 Corporate Report 2019 For the Year Ended March 31, 2019 What JAPEX can do for a better future In September 2015, the United Nations put forth the 2030 Agenda for Sustainable Development highlighting 17 Sustainable Development Goals (SDGs) as growth objec- tives common to international society to achieve a society “leaving no one behind.” Upon the November 2016 enactment of the Paris Agreement, the Japanese govern- ment pledged a long-term national target of reducing greenhouse gas emissions by 80% by the end of 2050. JAPEX announced its “Long-term Vision 2030” in May 2018. While contributing to the creation of a sustainable society and aiming to realize our vision for 2030, we will achieve growth as a company trusted by its stakeholders. 2018 2030 Corporate Vision JAPEX contributes to society through stable supply of energy, and solve social issues to realize sustainable development agendas. P Explore, develop, produce and deliver oil and natural gas in Japan and overseas. P Further enhance natural gas supply chain, consisting of our domestic infrastructures, by power supply business. P Contribute to solve problems for sustainable society on energy and climate change, through development and commercialization of new technology utilizing our existing technology and expertise. P Trust with stakeholder as first priority and achieve sustainable growth and maximize corporate value. Named the “JAPEX Jomon2050 Forest,” these trees were planted by the JAPEX Group as part of its forest nurturing activities. (Nagaoka City, Niigata Prefecture) JAPEX Group Code of Ethics and Conduct To realize our Corporate Vision and sustain as a company trusted by society, we hereby establish the JAPEX Group Code of Ethics and Conduct, which provides corporate ethics standards and action principles to be adhered by all officers and employees.
    [Show full text]
  • [Explanatory] Financial Results for the Three Months Ended June 30, 2020
    Note: The following report is an English translation of the Japanese-language original. Financial Results for the Three Months Ended June 30, 2020 August 11, 2020 Japan Petroleum Exploration Co., Ltd. Copyright © 2020 Japan Petroleum Exploration Co., Ltd. All rights reserved. Financial Highlights : 1Q Results and Full Year Forecasts FY20/3 FY21/3 Change Full year(f) Full year(f) Billion Yen Full year Revised 1Q (a) 1Q (a) Initial forecasts 1Q forecasts Full year Full year (a) (May 14, 2020) ① ③ (Aug 11, 2020) （③-①） （⑤-②） （⑤-④） ② ④ ⑤* Net sales 93.2 318.8 51.0 223.6 219.9 -42.2 -98.8 -3.7 Operating profit (loss) 4.6 14.2 -5.2 -8.2 -7.7 -9.8 -22.0 +0.4 Ordinary profit (loss) 8.9 32.6 -9.5 -2.1 -5.4 -18.4 -38.0 -3.2 Profit (loss) attributable to owners of parent 8.9 26.8 -9.5 -3.1 -6.5 -18.4 -33.3 -3.3 Oil price and exchange rate assumptions Crude oil price (CIF) (USD/bbl) 68.77 68.11 44.41 40.00 40.80 -24.36 -27.31 +0.80 Exchange rate (JPY/USD) 111.11 109.15 108.04 108.00 108.01 -3.07 -1.14 +0.01 *JAPEX announced the latest forecasts by “Notice of Financial Forecasts Revision” on August 11, 2020, regarding the consolidated financial forecasts of the fiscal year ending March 31, 2021 Copyright © 2020 Japan Petroleum Exploration Co., Ltd. All rights reserved. 2 Financial Results for the Three Months Ended June 30, 2020 Copyright © 2020 Japan Petroleum Exploration Co., Ltd.
    [Show full text]
  • GIIGNL Annual Report
    The LNG industry GIIGNL Annual Report 2021 Profile Acknowledgements Profile We wish to thank all member companies for their contribution to the report and the GIIGNL is a non-profit organisation whose objective following international experts for their is to promote the development of activities related to comments and suggestions: LNG: purchasing, importing, processing, transportation, handling, re-gasification and its various uses. • Cybele Henriquez – Cheniere Energy • Najla Jamoussi – Cheniere Energy The Group constitutes a forum for exchange of • Callum Bennett – Clarksons information and experience among its 86 members in • Oliver Stavrinidis – Clarksons order to enhance the safety, reliability, efficiency and • Laurent Hamou – Elengy sustainability of LNG import activities and in particular, • Jacques Rottenberg – Elengy the operation of LNG import terminals. • María Ángeles de Vicente – Enagás • Paul-Emmanuel Decroës – Engie • Oliver Simpson – Excelerate Energy • Andy Flower – Flower LNG • Magnus Koren – Höegh LNG • Gavin Stevens – MOL • Mariana Ortiz – Naturgy Energy Group • Birthe van Vliet – Shell • Mayumi Ikeda – Tokyo Gas • Donna DeWick – Total © GIIGNL - International Group of Liquefied Natural Gas Importers • Xinyi Zhang – Total All data and maps provided in this publication are for information purposes and shall be treated as indicative only. Under no circumstances shall they be regarded as data or maps intended for commercial use. Reproduction of the contents of this publication in any manner whatsoever is prohibited without prior consent of the copyright owners. Editorial The LNG industry in 2020 Jean Abiteboul President Dear Colleagues, 2020 can be characterized as a year of market Towards the end of the year, the market recorded price investment in infrastructure and access to low-cost volatility.
    [Show full text]
  • Financial Results for the Three Months Ended June 30, 2021
    [Explanatory Material] Financial Results for the Three Months Ended June 30, 2021 August 10, 2021 Japan Petroleum Exploration Co., Ltd. Note: This material is an English translation of the Japanese-language original Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. Contents Ⅰ. Financial Highlights Ⅱ. Financial Results for the Three Months Ended June 30, 2021 Ⅲ. Revised Financial Forecasts for the fiscal year ending March 31, 2022 Note) This material also serves as the presentation material for the financial results briefing for the institutional investors and analysts to be held on August 11, 2021. Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. 2 Ⅰ. Financial Highlights Ⅱ. Financial Results for the Three Months Ended June 30, 2021 Ⅲ. Revised Financial Forecasts for the fiscal year ending March 31, 2022 Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. 3 Financial Highlights ■ 1Q FY3/22 Results （Year-on-Year） (Billion Yen) FY3/21 1Q (a) FY3/22 1Q (a) Change Operating profit (5.2) 3.4 +8.6 - Ordinary profit (9.5) 10.4 +20.0 - Profit attributable to owners of parent (9.5) 7.1 +16.6 - • E&P business： Increase in profit of domestic sales and diluted bitumen sales due to a rise of crude oil prices • I/U Business： Increase in profit due to an increase of the sales volume of electricity by operating for the full reporting period in Fukushima Natural Gas Power Plant* and marginal gain on LNG procurement • Non-operating income： Increase in profit due to the recognition of foreign exchange gains and an increase in share of profit of entities accounted for using equity method ■ FY3/22 Forecast Revision （vs.
    [Show full text]
  • Iraq Oil & Gas Outlook
    Iraq Oil & Gas Outlook M A Y 2 0 1 5 CONFIDENTIAL Disclaimer . This Document has been prepared by Hannam & Partners (Advisory) LLP (“H&P”). It is protected by international copyright laws and is for the recipient’s use in connection with considering a potential business relationship with H&P only. This Document and any related materials are confidential and may not be distributed or reproduced (in whole or in part) in any form without H&P’s written permission. By accepting or accessing this Document or any related materials you agree to be bound by the limitations and conditions set out herein and, in particular, will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this disclaimer including, without limitation, the obligation to keep information contained in this Document and any related materials confidential. The information contained herein does not constitute an offer or solicitation to sell or acquire any security or fund the acquisition of any security by anyone in any jurisdiction, nor should it be regarded as a contractual document. Under no circumstances should the information provided in this Document or any other written or oral information made available in connection with it be considered as investment advice, or as a sufficient basis on which to make investment decisions. This Document is being provided to you for information purposes only. The distribution of this Document or any information contained in it and any related materials may be restricted by law in certain jurisdictions, and any person into whose possession this Document or any part of it comes should inform themselves about, and observe, any such restrictions.
    [Show full text]
  • Corporate Report 2020
    Corporate Report 2020 Japan Petroleum Exploration Co., Ltd. For the Year Ended March 31, 2020 Contents Mission and Purpose Corporate Vision • JAPEX Group Code of Ethics and Conduct ................. 01 Editorial Policy JAPEX Past and Future ............................................................................. 02 We issue our Corporate Report to facilitate the under- JAPEX Our Strengths ................................................................................ 04 standing of our economic, social and environmental The JAPEX Group’s Value Creation Process ............................................. 06 activities over the most recent fiscal year as well as our business strategies, financial position and CSR activities aimed at securing corporate sustainability and growth potential. We position this report as a key communication tool with our stakeholders, and are striving to enhance its content. Information Disclosure Sources This report presents important information with Strategy President’s Message ................................................................................ 08 the aim of enhancing understanding of our com- Finance & Accounting Dept. Director’s Message ..................................... 11 pany. More-detailed information is available on our website. Long-term Vision 2030 ............................................................................. 12 Mid-term Business Plan 2018-2022 ......................................................... 13 Financial Information Special Feature: The JAPEX Group
    [Show full text]
  • [Explanatory]Financial Results for the Fiscal Year Ended March 31, 2021
    Note: This material is an English translation of the Japanese-language original. Financial Results for the Fiscal Year Ended March 31, 2021 May 13, 2021 Japan Petroleum Exploration Co., Ltd. Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. Contents Ⅰ. Financial Highlights and Business Progress Ⅱ. Future Direction of JAPEX’s Business Ⅲ. Financial Results for the Fiscal Year Ended March 31, 2021 Ⅳ. Financial Forecasts for the Fiscal Year Ending March 31, 2022 Note) This material also serves as the presentation material for the financial results briefing to be held for securities analysts on May 14, 2021. Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. 2 Contents Ⅰ. Financial Highlights and Business Progress Ⅱ. Future Direction of JAPEX’s Business Ⅲ. Financial Results for the Fiscal Year Ended March 31, 2021 Ⅳ. Financial Forecasts for the Fiscal Year Ending March 31, 2022 Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved. 3 I. Financial Highlights and Business Progress Introduction: Change of Crude Oil Price Assumption [May 2018] 60USD/bbl of crude oil (JCC) price assumption for the Medium-term Business Plan 2018-2022 (Base of the ROE target more than 5% in FY2022 and the economic evaluation of business in the medium to long term) Recent Business Environment Occur the irreversible structural changes in various areas such as energy demand and environmental issues, due to the prolonged effects of COVID-19 pandemic and global decarbonization. Considered the possibilities to remain demands for fossil fuels low for a while. Stimulating Green Recovery will be the mainstream when recovering global economics from COVID-19 pandemic.
    [Show full text]
  • Japan Shakuntala Makhijani
    November 2014 Country Study Fossil fuel exploration subsidies: Japan Shakuntala Makhijani This country study is a background paper to the report The fossil fuel bailout: G20 subsidies for oil, gas and coal by Oil Change International (OCI) and the Overseas Development Institute (ODI). For the purpose of this report, exploration subsidies include: Argentina national subsidies (direct spending and tax expenditures), investment Australia by state-owned enterprises and public finance. The full report Brazil Canada provides a detailed discussion of technical and transparency issues China in identifying exploration subsidies, and outlines the methodology France used in this desk-based study. Germany India The authors would welcome feedback on the full report and on Indonesia Italy this country study, to improve the accuracy and transparency of Japan information on G20 government support to fossil-fuel exploration. Republic of Korea Mexico Russia Saudi Arabia South Africa Turkey United Kingdom United States priceofoil.org odi.org Figure 1. Oil and gas exploration expenditure and reserves in Figure 2. Overseas oil and gas exploration expenditure by Japan Japanese companies 45 250 1600 40 (millionof barrels oilequivalent) 1400 200 35 1200 Oil andgas reserves 30 1000 150 25 800 20 (million $) (million $) (million 100 600 15 Explorationexpenditure 400 Explorationexpenditure 10 50 200 5 0 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013 Year Oil & Gas Exploration Expenditure Oil & Gas Reserves Inpex Mitsui Japex Idemitsu JX Nippon Oil and Gas Mitsubishi Corp JOGMEC Source: Rystad Energy, 2014 Source: Rystad Energy, 2014 Background National subsidies With scarce and rapidly dwindling fossil-fuel resources of its own, Japan engages in only a small amount of domestic Japan provides major national subsidies to promote oil and oil and gas exploration and relies heavily on fossil-fuel gas exploration by Japanese companies overseas and, to a imports to meet its energy needs, particularly since the smaller extent, domestically.
    [Show full text]
  • Corporate Guide 2021
    ● ● Corporate Guide 2021 Japan Petroleum Exploration Co., Ltd. https://www.japex.co.jp/english/ A part of the cost of the printing paper will be Japan Petroleum Exploration Co., Ltd. FSC donated to environmental protection activities. Printed in Japan, April 2021 ● ● Corporate Vision ● ● Contents Contribute to society through 2 Overview of Oil and Gas E&P 4 Overseas Projects 6 Domestic Projects stable supply of energy 8 Energy Development 10 Energy Supply and address social issues towards 12 Creation of New Businesses 14 Sustainability Sustainable Development Goals. 16 Corporate Profile • Explore, develop, produce and distribute crude oil and natural gas at home and abroad. • Further strengthen the natural gas supply chain, built on our domestic infrastructures, by combining the electric power supply business. • Contribute to resolving energy and climate change related challenges towards a sustainable society through developing and commercializing new technologies, drawing on our expertise. • Achieve sustainable growth and maximize corporate value, while placing top priority on maintaining trust with all stakeholders. JAPEX Corporate Guide 2021 1 ● ● Overview of Oil and Gas E&P Oil and Gas E&P Value Chain Since its foundation, JAPEX has been engaged in the upstream, or E&P (exploration, development and production), sector of the oil and gas industry, as well as their transportation and supply. It also has contributed to the stable supply of energy, drawing on its S Screen extensive track record both at home and abroad, as well as the broad
    [Show full text]
  • Presentation of Consolidated Financial Results for the Six Months
    Note: The following report is an English translation of the Japanese-language original. PresentationPresentation ofof ConsolidatedConsolidated FinancialFinancial ResultsResults forfor thethe SixSix MonthsMonths EndedEnded SeptemberSeptember 30,30, 20092009 November 9, 2009 Japan Petroleum Exploration Co., Ltd. 1 copyright© JAPAN PETROLEUM EXPLORATION Co.,LTD. All rights reserved. Cautionary Statement Any information contained herein with respect to JAPEX’s plans, estimates, strategies and other statements that are not historical facts are forward-looking statements about the future performance of JAPEX. Readers should be aware that actual results and events may differ substantially from these projections due to various factors. The provision of this document should not be construed as a solicitation for investment. Copyright: All information contained herein is protected by copyright, and may not be copied or reproduced without the prior consent of JAPEX. Note: The following abbreviations are used within this document: 1H = First half (1Q-2Q) 2H = Second half (3Q-4Q) (a) = Actual result (e) = Estimate Any inquiries about the information contained herein or other Investor Relations questions should be directed to: Investor Relations Group, Media & Investor Relations Department, Japan Petroleum Exploration Co., Ltd. TEL: +81-3-6268-7111 2 ContentsContents 1.1. Business Overview President Osamu Watanabe 2.2. Consolidated Financial Results for the Six Months Ended September 30, 2009 Senior Managing Director Hiroshi Sato 3.3. Revised full year
    [Show full text]