January 26, 2018 / 6:39 AM / a month ago

Japex to book C$750 million impairment loss on its shale gas project for third-quarter

TOKYO (Reuters) - Japan Petroleum Exploration Co Ltd (Japex) said on Friday it would book an impairment loss of C$750 million ($608 million) on its shale gas project in Canada in the October-December quarter.

The loss will hurt its net income in the April-December period by 34 billion yen ($311 million), but the company is still assessing an impact on its full-year earnings, Japex said in a statement.

($1 = 109.1700 yen)

Reporting by Yuka Obayashi; Editing by Tom Hogue

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