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Origin Energy Released Q3FY2020 Report; Reported Drop in Revenue by 12%

  • April 30, 2020 12:42 PM AEST
  • Team Kalkine

Origin Energy Limited (ASX:ORG), in its Q3FY2020 report highlighted on below points:

  • Australia Pacific LNG production was stable during the period after the record production previous quarter.
  • Revenue dropped by 12% as compared to Q2FY2020 due to sales mix, with reduce contracted LNG sales partly balanced by elevated spot LNG & domestic sales.
  • Completed the first price assessment under Australia Pacific LNG’s long-term agreement with Sinopec. Reports no amendment in the contract price.
  • Electricity volume dropped 7% during the quarter and gas volume by 1% as compared to the previous corresponding period.
  • The demand impact of coronavirus till date is as per the expectation for FY2020 guidance.
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