Stockbroking | Wealth Management | Corporate Advice

x

Resizing text on the web

To increase or decrease the magnification of a web page, press Ctrl and '+' (plus) to zoom in or Ctrl and '-' (minus) to zoom out. To return the page to its original size, press Ctrl + 0.

You can also scroll the mouse wheel up and down while holding Ctrl to increase/decrease zoom level.

APLNG helps Origin to record quarter

Origin Energy has achieved record production and revenue in the June quarter courtesy of boosted production from its joint-owned APLNG project and higher oil prices.

Revenue rose to $570.2 million in the quarter ended June 30, up from $464.4 million a year earlier.

Production for the quarter rose four per cent to a record of 64 petajoules equivalent from a year earlier.

The four per cent gain came mostly from increased production from APLNG's gasfields in the Bowen and Surat Basins.

Origin CEO Frank Calabria said 125 LNG cargoes had been shipped from APLNG's plant - located in Gladstone, Queensland - during the year.

"Across FY18, we saw strong uplifts in production, sales and revenue, reflecting a full year's contribution from Australia Pacific LNG's Train Two and assisted by strengthening commodity prices," Mr Calabria said.

Origin shares were two cents, or 0.2 per cent, higher at $9.69 at 1032 AEST, with the energy sector up following a lift in global oil prices overnight.

Austrlaian Associated PressBack to Breaking News

Market Indices