Inpex Earnings: Down Largely as Expected, With Higher Crude Prices Yet to Register

Japanese oil and gas producer Inpex's underlying first-quarter 2026 net profit after tax declined 13% on last year to JPY 109 billion. Performance reflects a 5% decline in Brent crude price, 3% lower production, and 5% softer EBITDA margin. Inpex LNG profit fell due to increased income tax expense.