Risks to Operations, Sales and Investment Recovery from COVID-19
First written in FY2020. 3 of 9 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2023.
Japan Petroleum Exploration moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
0 other companies' latest entry also says "Softened".
- FY2023SoftenedAnnual report
「Although the Company considers the impact of COVID-19 on economic activity in Japan and overseas to be improving, if responses to the spread of similar or new infectious diseases become necessary, including city lockdowns, declarations of a state of emergency and priority preventive measures, demand for oil, natural gas and electricity could decline, and crude oil, natural gas and electricity prices could also fall.」
The Company's view changed to one that the current impact of COVID-19 is improving, while the risk of the spread of similar or new infectious diseases remains. - FY2022RestatedAnnual report
「The outlook for containment of COVID-19 remains uncertain. The spread of the infection and the resulting responses by individual countries could reduce demand for oil, natural gas and electricity, and could also cause crude oil, natural gas and electricity prices to fall.」
The risks from uncertainty over the timing of COVID-19 containment, declining demand and market prices, and business stagnation caused by restrictions on the movement of employees and equipment remain. - FY2022-Q3RestatedAnnual report
「COVID-19 still had no clear prospect of containment at the end of the cumulative third-quarter period of the fiscal year under review, and its impact on economic activity in Japan and overseas continued. The timing of containment and other aspects of the pandemic remain uncertain and difficult to predict, but the Company assumes that these conditions will gradually recover over a certain period.」
The Company reconfirmed the uncertainty surrounding the timing of COVID-19 containment and the continuing impact on economic activity. - FY2022-Q2WorsenedAnnual report
「In the Seagull field in the UK North Sea, following a review of the development plan in light of the impact of the infectious disease and other factors, the start of production, which had been scheduled for the end of this year, is now expected to be delayed until the first half of 2023.」
The impact of COVID-19 and other factors was additionally specified as an expected delay in the start of production at the Seagull block until the first half of 2023. - FY2022-Q1RestatedAnnual report
「COVID-19 had not yet shown signs of containment at the end of the cumulative first-quarter period of the fiscal year under review, and economic activity in Japan and overseas remained stagnant. The timing of containment and other aspects of the pandemic remain uncertain and difficult to predict, but the Company assumes that these conditions will gradually recover over a certain period.」
The Company reconfirmed the uncertainty surrounding the timing of containment of COVID-19 and the stagnation of economic activity as business and accounting risks continuing from the previous fiscal year. - FY2021-Q3WorsenedAnnual report
「Regarding the impact on sales volumes of crude oil and natural gas, diluted bitumen, electricity and other products in the cumulative third-quarter period of the fiscal year under review, sales volume of crude oil lifted from the Garraf Project fell by 757 thousand kl year on year, or 83.1%, to 154 thousand kl. In Canada's oil sands development business, production was reduced in response to the deterioration in the business environment, resulting in a 352 thousand kl, or 27.3%, year-on-year decline in diluted bitumen sales volume to 937 thousand kl. In Japan, natural gas sales volume fell by 43 million m3, or 5.1%, year on year to 813 million m3 due to stagnant economic activity.」
The impact of COVID-19 and other factors continued to be broad-based and quantifiable in the cumulative third-quarter period, appearing as declines in sales volumes of crude oil lifted from Garraf, diluted bitumen and domestic natural gas. - FY2021-Q2WorsenedAnnual report
「Regarding the impact on sales volumes of crude oil and natural gas, diluted bitumen, electricity and other products in the cumulative second-quarter period of the fiscal year under review, sales volume of crude oil lifted from the Garraf Project fell by 454 thousand kl year on year, or 74.7%, to 154 thousand kl. In Canada's oil sands development business, production was reduced in response to the deterioration in the business environment, resulting in a 224 thousand kl, or 26.8%, year-on-year decline in diluted bitumen sales volume to 613 thousand kl. In Japan, natural gas sales volume fell by 12 million m3, or 2.4%, year on year to 520 million m3 due to stagnant economic activity.」
The impact of COVID-19 and other factors was quantified as declines in sales volumes of crude oil lifted from Garraf, diluted bitumen and domestic natural gas. - FY2021-Q1MaterialisedAnnual report
「Regarding the impact on sales volumes of crude oil and natural gas, diluted bitumen, electricity and other products, domestic natural gas sales volume was 248 million m3 in the cumulative first-quarter period of the fiscal year under review, down 6.8% year on year.」
The impact of COVID-19 materialized as a 6.8% year-on-year decline in domestic natural gas sales volume, contributing to the deterioration in quarterly performance along with lower crude oil prices and the temporary suspension of operations at the Garraf oil field. Production at the Garraf oil field resumed on 21 July. - FY2020First statedAnnual report
「COVID-19 continued to spread at the end of the consolidated fiscal year under review, and economic activity in Japan and overseas was significantly stagnant due to restrictions on activity, including requests to refrain from going out.」
COVID-19 was disclosed independently for the first time as a new company-wide risk linked to the temporary suspension of operations at the Garraf oil field, lower sales volumes, falling crude oil prices, delays in investment recovery, and the possibility of impairment and the reversal of deferred tax assets. The assumption that the average crude oil CIF price would be US$40 in the following fiscal year was also presented.