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Saturday 17

November, 2018 1:35 AM



Origin oil and gas revenue up 12% in Sept

Origin oil and gas revenue up 12% in Sept

Origin said its share of Australia Pacific LNG revenue increased to $640 million for the September quarter, up from $570 million in June.

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By AAP 31.10.2018 11:35 AM

Origin Energy has seen a 12 per cent quarterly lift in oil and gas revenue despite production remaining steady, with the company attributing the rise to higher commodity prices.

In an announcement to the ASX, Origin said its share of Australia Pacific LNG revenue increased to $640 million for the September quarter, up from $570 million in June and 35 per cent higher on the same time last year.

Origin's electricity sales increased four per cent from June in line with seasonal demand, while gas sales increased by six per cent, reflecting new short-term contracts in Queensland and higher seasonal demand in Victoria, partially offset by lower sales to generation.

"Australia Pacific LNG continues to produce at steady rates, allowing it to meet its LNG contract commitments and deliver large volumes of gas into the east coast domestic market, while higher realised prices delivered a strong uplift in revenue for the quarter," Origin chief executive Frank Calabria said.

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