Australian Origin Energy Reports 28% Drop in 1H Underlying Profit

Australian Origin Energy has reported a 28% drop in underlying profit for 1H 2017 to A$184mn (US$142mn) driven by a lower contribution from Australia Pacific LNG owing to low oil prices.

This comes after the company February 15 said it would recognise an impairment charge of approximately A$1.9bn in its 1H 2017 results after revision to values at its Australia Pacific LNG joint venture and its investments in the Browse Basin.

Origin stated that its intention to divest its conventional upstream business via initial public offering announced in December 2016 is on track. “During the period, Origin announced an intention to sell via IPO its conventional upstream assets and we are on track to complete this transaction in 2017,” Origin CEO Frank Calabria said.

The company has lifted its underlying earnings guidance from A$2.45bn to A$2.65bn for the full year. 


Shardul Sharma



Natural Gas World welcomes all viewpoints. Should you wish to provide an alternative perspective on the above article, please contact

Kindly note that for external submissions we only lightly edit content for grammar and do not edit externally contributed content. 


We use cookies to ensure that we give you the best experience on our site. If you continue we assume that you understand and accept to receive cookies from this website. Dismiss