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ConocoPhillips

ConocoPhillips profit tops as travel demand boosts oil prices

ConocoPhillips profit tops as travel demand boosts oil prices

  • Conoco said its total average realized price was $45.36 per barrel of oil equivalent in the quarter, much higher than the $33.21 it earned in the last three months of 2020.
  • The company also outlined a plan to cut its gross debt by $5 billion over the next five years and its intention to exit its 10% stake in Canadian producer Cenovus Energy Inc by the fourth quarter of 2022.
Published 04 May, 2021 05:25pm
ME Crude: Benchmarks inch up
Markets

ME Crude: Benchmarks inch up

SINGAPORE: Middle East crude benchmarks Oman and Dubai edged up on Wednesday, while the market awaited fresh cues...
Published 15 Apr, 2021 03:22am
Continental Resources' quarterly output hit by winter storm
Business & Finance

Continental Resources' quarterly output hit by winter storm

  • Continental expects oil production to average about 152,000 barrels of oil per day (bopd) and natural gas output to average about 935 million cubic feet per day (mmcfpd).
  • Second-quarter production is expected to be 160,000-165,000 bopd and natural gas output is seen at 920-940 mmcfpd, the company said.
Published 13 Apr, 2021 07:12pm
Oil companies defeat New York City appeal over global warming
World

Oil companies defeat New York City appeal over global warming

  • The 2nd US Circuit Court of Appeals in Manhattan ruled in favor of BP Plc, Chevron Corp, ConocoPhillips , Exxon Mobil Corp and Royal Dutch Shell Plc , rejecting the city's efforts to sue under state law for trespass and creating a nuisance.
Published 01 Apr, 2021 07:28pm
ConocoPhillips resumes share buybacks, promises capital discipline
Markets

ConocoPhillips resumes share buybacks, promises capital discipline

  • Despite the uptick in crude prices, oil companies are expected to largely limit spending to marginally higher as investors reward companies showing capital discipline after years of low returns from the sector.
  • We believe this market will favor companies who demonstrate sustainable discipline and strong free cash flow generation with a track record of predictable returns of capital.
Published 10 Mar, 2021 07:35pm