Feeds
ConocoPhillips said Wednesday it plans to slash its 2010 capital spending by 10 percent as it tries to shore up cash amid plunging profits.
ConocoPhillips, the third-largest U.S. oil company, has announced plans to sell assets worth at least $10 billion to cut debt and shore up its balance sheet.
ConocoPhillips on Wednesday became the latest major oil company to report that its profit plunged in the third quarter while at the same time announcing a sharp uptick in production.
ConocoPhillips on Wednesday said it will increase its quarterly dividend 6 percent, sell $10 billion of assets and lower capital spending in 2010 in an effort to strengthen its financial position.
Venezuela's state oil company has purchased ConocoPhillips' 40 percent stake in a joint natural gas venture with Chevron Corp.
ConocoPhillips became the second oil major in as many days to report plunging profits for the second quarter, saying Wednesday its earnings fell a whopping 76 percent because of the year-over-year fall in oil and gas prices and lousy refining results.
ConocoPhillips, the third-largest U.S. oil company, said Tuesday second-quarter production rose by more than 100,000 barrels from a year ago, but lower crude and natural-gas prices and refining margins are expected to hurt results.
ConocoPhillips, the third-largest U.S. oil company, says its second-quarter production rose by more than 100,000 barrels from a year ago. But it says lower crude and natural-gas prices and refining margins are expected to hurt results.
ConocoPhillips and the state-run Saudi Arabian Oil Co. said Tuesday they've revived plans to build a multibillion-dollar refinery in Saudi Arabia, citing improved economic conditions.
The U.S. oil and gas industry, facing greater regulation and heavier taxes at home, must do a better job of explaining its vital role in the global economy's future, the chief of the nation's third-largest oil company said Wednesday.
ConocoPhillips said Thursday its first-quarter profit tumbled 80 percent from a year ago as sharply lower crude and natural-gas prices walloped results at the nation's third-largest oil company.
Signaling that Big Oil's heyday is over for now, ConocoPhillips posted an enormous fourth-quarter loss Wednesday as the energy giant was stung by $34 billion in asset writedowns and plunging crude prices. It also gave a dire forecast for the next couple of years.
ConocoPhillips, the third-largest U.S. oil company, said Friday it's cutting 4 percent of its overall work force, slashing capital spending by 18 percent and writing off $34 billion in noncash assets because of plummeting energy prices.
President-elect Barack Obama's plan to create a "green energy economy" is designed to address the problems of energy security, climate change and job creation, but its cost could be greater than policymakers realize, the chief executive of oil company ConocoPhillips said Tuesday.
Record crude prices this summer helped ConocoPhillips' third-quarter profit soar 41 percent from a year ago, as the company overcame lower oil and natural gas output caused by two hurricanes.
ConocoPhillips will sell the remainder of its gas stations in the United States, the company said Wednesday, though Conoco, Phillips 66, and 76 will continue to operate under those familiar signs.
Record crude prices helped oil giant ConocoPhillips' second-quarter profit climb 13 percent from adjusted results a year ago, beginning what is expected to be a string of robust earnings announcements from major oil companies.
ConocoPhillips, the third-largest U.S. oil company, said Tuesday its global production fell as expected in the second quarter because of planned maintenance, but it benefited from higher oil and natural gas prices.
ConocoPhillips, the third-largest U.S. oil company, said Thursday its first quarter profit rose almost 17 percent as record high oil prices offset disruptions that hurt earnings from its refining operations.
Record oil prices at the end of 2007 helped ConocoPhillips post a 37 percent increase in fourth-quarter profit, even as the third-largest U.S. oil company produced less crude and natural gas than a year earlier.
ConocoPhillips wants to build potentially the world's largest, most expensive energy facility — a multibillion dollar gas pipeline running from Alaska's North Slope to Midwestern states.
ConocoPhillips, the third-largest U.S. oil company, said Wednesday profit from its global refining operations likely was off significantly from last quarter, and oil and gas production was probably down too.
ConocoPhillips has joined several other major corporations urging Congress to require limits on greenhouse gases tied to global warming, the first major U.S. oil company to take such a stance.
Rumor: MacBook touch Coming in OctoberThose of you clamoring for an Apple tablet may finally get what you've been waiting for. According to a MacDailyNews source who leaked wireless iTunes a week before its official announcement, we can expect a sort of "MacBook touch" in October.
If you're in the oil business and your name isn't Hugo Chavez, then the Democrat Congress just raised your taxes... By Jeff Emanuel. March 3, 2008At the end of last week, the House passed an energy bill that stripped $18 billion in tax credits for research and exploration from five "major integrated oil companies" (Exxon, Chevron, BP, Shell and ConocoPhillips). Believe it or not, that's the good news.
Exxon Mobil boasts a record profitWall Street's script called for oil companies to report lower first-quarter earnings, but Exxon Mobil Corp. wrote its own lines Thursday, reporting a record $9.3 billion profit despite a drop in revenue.
Conocophillips, Tyson to Make Biodiesel From FatOil company ConocoPhillips and meat producer Tyson Foods Inc. plan to work together to produce biodiesel from animal fat, the companies said on Monday.
Ties that BindThere are so many instances of conflicts of interest within our government and this is a prime example of such.
Justice Official Bought Vacation Home With Oil LobbyistA senior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution …
CIA leak figure Armitage joins ConocoPhillips boardOil major ConocoPhillips said on Friday that former Deputy Secretary of State Richard Armitage, a likely witness in the CIA leak case, has joined its board.
Senators to Big Oil: Where's the money?Considering a bill to block industry mergers, lawmakers call on executives to explain record profits, and offer ways to rein in prices.
Log In | Register
