Thursday, 30 October 2014

Conoco sees third-quarter profit rise, 2015 capex seen lower

ConocoPhillips Chairman and CEO Lance rings the closing bell at the New York Stock Exchange By Anna Driver (Reuters) - ConocoPhillips , the largest U.S. independent oil and gas company, on Thursday reported higher third-quarter profit after the sale of its Nigerian unit and said overall spending would decline next year, partly in response to falling crude oil prices. Crude oil prices have tumbled more than 20 percent in recent weeks as global demand slows and supplies rise. Crude traded in New York fell to a more than two-year low on Monday at $79.44 a barrel but recovered a bit to above $81 on Thursday. Conoco expects to spend less than $16 billion next year, down from the $16. ...








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