Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Origin Energy posts 46% plunge in first-quarter APLNG revenue on lower prices

Published 30/10/2020, 08:48 am
ORG
-
COP
-
NG
-
600028
-

Oct 30 (Reuters) - Origin Energy ORG.AX said on Friday first-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project fell 46%, hurt by lower realised prices for its oil and gas.

The Sydney-based power and gas retailer posted revenue of A$373.9 million ($266.55 million) from the joint venture in the September quarter, compared with A$688.3 million a year ago. Brokerage RBC estimated revenue to come in at A$429 million.

APLNG is a joint venture between Origin, ConocoPhillips (NYSE:COP) COP.N and China's Sinopec 600028.SS , and it is the largest producer of natural gas in eastern Australia.

($1 = 1.4027 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.