• Inpex completed a share buyback between 7 August and 30 September 2026, repurchasing 12,638,100 shares (1.09% of its stock) for ¥48,910.18 million. This occurred alongside an Australian regulatory approval that confirms a Bonaparte Basin formation as suitable for offshore carbon dioxide storage.

• This pairing of a sizeable capital return and a formal step forward for the Bonaparte CCS Project highlights how Inpex is simultaneously tightening its equity base and pursuing lower emission options for the Ichthys LNG value chain.

• The next step is to assess how Inpex's investment narrative could shift as the Bonaparte CCS milestone feeds into its long term decarbonization plan.

Scan how Inpex's latest buyback and CCS progress compares with other capital disciplined, lower emissions focused energy plays by reviewing the curated 23 resilient stocks with low risk scores .

Inpex Investment Narrative Recap

To own Inpex, you need to be comfortable with a large LNG and oil producer that is leaning into long life projects while trying to cut the carbon intensity of its Ichthys value chain. The Bonaparte CCS designation supports that decarbonization story. The completed ¥48,910.18 million buyback tightens the equity base but does not radically change near term operations.

In the short term, the key swing factor remains execution on big LNG projects such as the Ichthys expansion and Abadi, where delays or cost overruns could pressure earnings that analysts already expect to decline. The biggest risk is that LNG demand or pricing weakens faster than expected, while low carbon ventures such as CCS, hydrogen and ammonia take longer to scale.

The recent completion of the buyback program, with 12,638,100 shares retired, ties directly into one of the clearer near term levers for Inpex. Fewer shares can amplify earnings per share over time if operating performance holds up. This matters in a setup where analysts see limited revenue growth and falling profits over the next three years.

However, the buyback does not remove the heavier operational questions. Large scale LNG developments still carry execution and cost risk, and CCS projects such as Bonaparte remain capital intensive with uncertain long term returns. For you as a shareholder, the combination of ongoing capital returns and disciplined project delivery remains the central catalyst to watch.

Inpex's current analyst narrative points to revenues of ¥2,226.5b and earnings of ¥432.7b by 2029, based on 4.1% yearly revenue growth and an earnings increase of about ¥55.7b from the ¥377.0b earned today.