(Updates with details on results from paragraphs 3)
July 31 (Reuters) - Origin Energy (ORG) reported a 7% sequential decline in its fourth-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project on Wednesday due to lower LNG sales volumes and reduced average realised LNG prices.
The energy retailer said that its share of revenue from APLNG, a joint venture with U.S. based oil and gas giant ConocoPhillips COP.N and China state-owned Sinopec 600028.SS , fell to A$590 million ($385.74 million) for the three months ended June, as compared with A$633 million in the previous quarter.
The decline was due in part to a weaker average realised price for LNG, which dropped to $11.70 per metric million British thermal units (mmBtu) in the June quarter, compared to $12.17 per mmBtu in the prior quarter.
Globally, oil prices were volatile in the second quarter ended June 30, as a price increase following OPEC+ supply cut was countered by weak Chinese demand.
The Australian-based company said LNG sales at the APLNG project fell by 3% quarter-on-quarter to 35.1 petajoules. ($1 = 1.5295 Australian dollars)
News: ORG UPDATE 1-Australia's Origin Energy reports decline in fourth-quarter APLNG revenue
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$11.76 |
Change
0.090(0.77%) |
Mkt cap ! $20.25B | |||
| Open | High | Low | Value | Volume |
| $11.73 | $11.84 | $11.66 | $28.36M | 2.412M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $11.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.76 | 120 | 1 |
View Market Depth
| Last trade - 16.18pm 01/08/2025 (20 minute delay) ? |
| ORG (ASX) Chart |