Unsuccessful acquisition of resource interests and exploration and development; concentration of resource assets
First written in FY2017. 1 of 3 entries say "Softened", first in FY2018. Latest entry: FY2026.
The whole theme swung hardest in 2018: 2 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「IDEMITSU AUSTRALIA PTY LTD, a consolidated subsidiary of the Company, recognized a gain on the bargain purchase arising from its additional acquisition of an interest in the Bogabri coal mine in Australia.」
The resource asset portfolio includes the additional acquisition of an interest in the highly competitive Bogabri mine. - FY2018SoftenedAnnual report
「In addition, the confirmed resources held by the Group are concentrated in Norway, while exploration activities are conducted in 2 regions: Norway and Vietnam.」
The regions covered by exploration activities decreased from the previous 3 regions (Norway, the United Kingdom, and Vietnam) to 2. In connection with the transfer of assets in the British North Sea, the geographic scope of the risks has narrowed. - FY2017First statedAnnual report
「If the Group is unsuccessful in acquiring interests or conducting exploration, or is unable to develop confirmed resources efficiently as planned, future crude oil production will decline. In addition, the confirmed resources held by the Group are concentrated in Norway, while exploration activities are conducted in 3 regions: Norway, the United Kingdom, and Vietnam.」
The risks have newly been organized as declining production resulting from unsuccessful acquisitions of interests, exploration, or development, and the concentration of confirmed resources in Norway.