Page 12 - AsianOil Week 34 2021

AsianOil NEWS IN BRIEF AsianOil

levels, coupled by the Group’s continuous with the operation quality and efficiency following steady production performance
cost optimisation initiatives implemented significantly improved, helping the Company during the past year, increased
throughout the year. to achieve the best interim performance in exploration expenses associated with
For its 4Q FY2021 results, the Group the past seven years. Domestic oil and gas drilling offshore Western Australia, and
announced revenue and PAT of RM253.0 equivalent output was 735 million barrels, foreign exchange impacts.
million and RM49.6 million respectively with up 3.5% yoy. Marketable natural gas output Revenue and NPAT are estimated
EBITDA for the quarter reported at RM129.9 was 2.16 trillion cubic feet, up 6.7% yoy. All to substantially increase in the current
million. The resulting EBITDA margin was segments achieved profits. The development financial year as a result of the acquisition
high at 51%. The Group also reported a of the new energy and new materials business of a share of three producing assets in the
healthy unrestricted cash balance of RM173.9 was accelerated. The green and low-carbon Amadeus Basin in Australia’s Northern
million as of 30 June 2021. transformation achieved positive progress, Territory, and new production from
Commenting on the outlook for the further enhanced the Company’s value. Indonesia.
Group, Managing Director, Dr Kenneth Under the IFRS, PetroChina achieved a The net loss for the year attributable to
Gerard Pereira, said, “There have been revenue of RMB1,196.58 billion in the first New Zealand Oil & Gas shareholders was
positive developments in the Group over half of 2021 while net profit attributable $36.4 million, or 21.7 cents per share. Net loss
4Q FY2021. Conditional agreements for a to owners of the Company amounted to attributable to shareholders of New Zealand
transformative acquisition were executed. The RMB53.04 billion. Compared with the Oil & Gas $1.4 million last year. The Group
Repsol asset acquisition is expected to almost same period in 2019, net profit increased by result was a loss of $43.3m ($0.8m in the prior
triple the Group’s average net daily oil, gas and RMB24.62 billion even with the realized oil period).
condensate production to 26,800 barrel of oil price decreased by 5.4% The financial position Revenue for the year was steady at $36.0
equivalent per day in 2022. In addition, the of the Company remained stable with its million, compared to $37.3 million in the
continued higher level of oil prices seen since gearing ratio decreasing by 0.1% compared prior period.
the onset of calendar year 2021, driven by with the end of last year. The Company New Zealand Oil & Gas subsidiary,
aggressive vaccine roll-out programs, careful achieved strong cash flow with free cash Cue Energy Resources, contributed $24.1
management of costs and concerns of the flow increased by RMB30.98 billion and EPS million to revenue from its Maari, Sampang
tightening future supply of oil and gas, has coming at RMB0.29. By attaching importance and Mahato assets ($25.2m last year), and
positively impacted the financial performance towards ensuring a return for shareholders, recorded a $13.7 million loss ($1.2m profit in
of the Group. the Board decided an interim cash dividend the prior period).
HIBISCUS PETROLEUM, August 26, 2021 of RMB0.13 per share while the total amount Revenue from production at the Kupe gas
of cash dividend of RMB23.866 billion, the fields in Taranaki, New Zealand was stable at
highest since 2015. $11.9 million ($12.0m last year) for the New
EAST ASIA PetroChina Company Limited is a joint Zealand Oil & Gas 4 per cent share.
stock limited company incorporated on The Group expensed $35.4 million for the
PetroChina’s business November 5, 1999, upon the restructuring year for exploration. The main expenditure
was the unsuccessful Ironbark well offshore
of China National Petroleum Corporation
results hit another record in (CNPC). Western Australia, as disclosed in the
half year results announcement. Cue was
PETROCHINA, August 26, 2021
first half of 2021 also a participant in the unsuccessful WA
exploration.
On 26 August, PetroChina Company OCEANIA The Group had $70.8 million of cash on
Limited announced that in the first half of hand at balance date. $51.8 million was held
2021, riding on rapid economic recovery NZOG annual result for year by New Zealand Oil & Gas and $19.0 million
in China, a rebound in demand, and rise in was held by Cue. The higher New Zealand
international oil prices, the Company focused to June 30 dollar compared to the US Dollar and AU
on optimizing production and operation, and Dollar contributed a foreign exchange loss of
continued to enhance quality and profitability. New Zealand Oil & Gas today announces NZ$6.7 million.
Oil and gas industrial chain operated steadily a net loss in line with expectations NZOG, August 25, 2021

P12 www. NEWSBASE .com Week 34 26•August•2021