Deterioration in Upstream Asset Profitability and Recovery Risk for Exploration and Development Investments
First written in FY2016. 11 of 25 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026-H1.
ENEOS Holdings moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2026: 4 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「Crude oil and natural gas production increased year on year due to the higher interest ratio following the conclusion of a new production sharing contract for Block 15-2 offshore Vietnam and increased production from projects in the Middle East.」
In response to the risk of lower upstream production due to declines at existing projects and other factors, production increased year on year due to the higher interest ratio in the offshore Vietnam block and increased production from Middle East projects. - FY2024-Q3MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year due in part to the start-up of the third liquefaction train at the Tangguh project in Indonesia, despite declines at certain projects and the effects of shutdowns for scheduled maintenance.」
Although declines and shutdowns for scheduled maintenance at certain projects reduced production, crude oil and natural gas production increased year on year due in part to the start-up of the third liquefaction train at Tangguh. - FY2024-Q1RestatedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year due to declines at certain projects and the effects of shutdowns for scheduled maintenance.」
The decline in crude oil and natural gas production has continued due to natural decline at certain projects and shutdowns for scheduled maintenance. - FY2023-Q3Decline in production due to the sale of the UK business and other factorsAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year due in part to the sale of the UK business, completed in March 2022.」
The production volume of the oil and natural gas development segment decreased year on year due to the sale of the UK business and other factors. Meanwhile, the segment's operating profit increased due to higher selling prices. - FY2022MitigatedAnnual report
「While maintaining stable oil and natural gas production to maximize the value of existing businesses, the company promoted environmentally oriented businesses positioned as growth businesses, using CCS/CCUS technology as a driver and leveraging alliances with other companies.」
The response to profitability and production risks associated with upstream assets is progressing through the maintenance of stable production and the sale of the UK business. - FY2022-Q3WorsenedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year, mainly due to the natural decline of oil and gas fields and other factors.」
The year-on-year decline in crude oil and natural gas production due to natural decline and other factors materialized, marking a deterioration from the growth phase through new and additional development up to the previous period. - FY2022-Q2MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year, despite declines due to the natural decline of oil and gas fields and other factors, partly because production was strong.」
Despite natural decline, crude oil and natural gas production increased year on year due in part to strong production. - FY2022-Q1MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year, despite declines due to natural decline and other factors, partly because of production contributions from additional development of existing projects.」
Production contributions from additional development of existing projects enabled crude oil and natural gas production to increase year on year despite natural decline, temporarily easing downward pressure on production volumes. - FY2021MitigatedAnnual report
「The company maintained stable production even during the COVID-19 pandemic, and the projects in Malaysia and Papua New Guinea achieved their highest annual production on record in their respective fiscal years.」
Despite the effects of the natural decline of existing oil and gas fields and the sale of interests, crude oil and natural gas production increased to 125 thousand barrels per day due in part to contributions from new projects. - FY2021-Q3MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year, despite declines caused by the natural decline of oil and gas fields and other factors, due in part to contributions from projects that commenced production in 2019.」
Although natural decline continued, upstream production increased year on year due in part to contributions from projects that commenced production in 2019. - FY2021-Q1MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year due to contributions from projects that commenced production in the previous year, despite the natural decline of oil and gas fields.」
Although the natural decline of existing oil and gas fields continued, crude oil and natural gas production increased year on year due to contributions from new production projects, temporarily easing downward pressure on upstream production. - FY2020-Q3MaterialisedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year due to the natural decline of other oil and gas fields and other factors, despite contributions from projects that newly commenced production.」
Despite contributions from new projects, the decline in upstream production due to the natural decline of existing oil and gas fields materialized in the cumulative third quarter. - FY2020-Q2MaterialisedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year due to the natural decline of other oil and gas fields and other factors, despite contributions from projects that newly commenced production.」
Despite contributions from new projects, the decline in upstream production due to the natural decline of existing oil and gas fields materialized in the second quarter. - FY2020-Q1MitigatedAnnual report
「Crude oil and natural gas production increased from the same period of the previous year due to contributions from projects that newly commenced production, despite the natural decline of oil and gas fields.」
Although the natural decline of existing oil and gas fields continued, upstream production increased year on year due to contributions from new projects. - FY2019MaterialisedAnnual report
「Crude oil and natural gas production was 105 thousand barrels per day, below the level of the previous consolidated fiscal year.」
The decline in upstream production became evident in full-year results against the backdrop of the sale of the Syncrude interests in Canada, the earthquake in Papua New Guinea and other factors. - FY2019-Q1MaterialisedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year due to the sale in February 2018 of all interests in Canada's Syncrude oil sands project, the resulting production decline caused by the earthquake in Papua New Guinea that same month, and the natural decline of oil and gas fields in other projects.」
The decline in upstream production materialized in the first quarter due to the effects of interest sales, the earthquake and the natural decline of existing oil and gas fields. - FY2018MaterialisedAnnual report
「Although production commenced at Malaysia's Layang oil and gas field and the United Arab Emirates' Ha'il oil field during the consolidated fiscal year, production by ＪＸ石油開発株式会社 fell below the previous consolidated fiscal year to 119 thousand barrels per day due to the sale of interests under the policy of selectivity and concentration, as well as the effects of the earthquake in Papua New Guinea and other factors.」
Although production commenced at new oil fields, upstream production fell below the previous year due to the sale of interests, the earthquake in Papua New Guinea and other factors. - FY2018-Q3RestatedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year, despite contributions from projects that newly commenced production, due to the natural decline of other oil and gas fields and other factors.」
Despite contributions from new projects, production volumes continue to decline due to the natural decline of existing oil and gas fields. - FY2018-Q2MaterialisedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year, despite contributions from projects that newly commenced production, due to the natural decline of other oil and gas fields and other factors.」
Despite contributions from new projects, the natural decline of existing oil and gas fields has resulted in lower upstream production. - FY2018-Q1MaterialisedAnnual report
「Crude oil and natural gas production decreased from the same period of the previous year, despite contributions from projects that newly commenced production, due to the natural decline of other oil and gas fields and other factors.」
Despite contributions from new projects, upstream production fell below the previous year's level due to the natural decline of existing oil and gas fields. - FY2017MaterialisedAnnual report
「In the oil and natural gas development segment, the company recorded an impairment loss of ¥54.751 billion on assets related to oil and gas field interests.」
In the upstream business, impairment losses were incurred again in the current period due to changes in economic conditions and reduced prospects for securing commercially producible reserves. - FY2017-Q3MaterialisedAnnual report
「Business restructuring costs represent losses related to asset sales and withdrawal accompanying the restructuring of the oil and natural gas development business. These costs include an impairment loss on fixed assets of ¥8.705 billion.」
Losses related to asset sales and withdrawal and impairment accompanying the restructuring of the upstream business were incurred in the cumulative third quarter, with business restructuring costs totaling ¥10.274 billion. - FY2017-Q2MaterialisedAnnual report
「Business restructuring costs represent losses related to asset sales and withdrawal accompanying the restructuring of the oil and natural gas development business. These costs include an impairment loss on fixed assets of ¥8.692 billion.」
Losses related to asset sales and withdrawal and impairment accompanying the restructuring of the upstream business were incurred in the cumulative second quarter, with business restructuring costs totaling ¥10.277 billion. - FY2017-Q1MaterialisedAnnual report
「The total amounted to ¥13.6 billion, including ¥9.8 billion in business restructuring costs and ¥1.6 billion in losses on the disposal of fixed assets.」
The company recorded ¥9.8 billion in business restructuring costs as losses related to asset sales and withdrawal accompanying the restructuring of the oil and natural gas development business, of which ¥8.166 billion was an impairment loss on fixed assets. - FY2016First statedAnnual report
「Losses related to asset sales and withdrawal accompanying the restructuring of the oil and natural gas development business」
The company recorded an impairment loss of ¥230.5 billion on oil and natural gas exploration and production assets, reflecting the deterioration in profitability caused by low oil prices.