ConocoPhillips Archives - Page 4 of 11

ConocoPhillips reports first quarter 2023 results; raises full year production guidance midpoint and declares quarterly dividend and variable return of cash distribution

May 4, 2023

BOE Report HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today reported first-quarter 2023 earnings and adjusted earnings of $2.9 billion, or $2.38 per share, compared with first-quarter 2022 earnings of $5.8 billion, or $4.39 per share, and first-quarter 2022 adjusted earnings of $4.3 billion, or $3.27 per share. “Our first quarter results are a clear demonstration of the durable, returns-focused value proposition that we

ConocoPhillips wins ruling to continue work on $8 billion “Willow” oil project

April 5, 2023

World Oil (Bloomberg) – A federal judge in Alaska denied a bid by environmentalists and an indigenous group to block ConocoPhillips from opening a gravel mine and conducting other work at its $8 billion Willow oil project in the state. The order Monday from U.S. District Judge Sharon Gleason gives ConocoPhillips a green light to continue initial operations during a

Alaska condemns restrictions on Alaskan oil drilling project by Biden administration

February 15, 2023

World Oil (Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an unacceptable blow to residents across the nation’s largest state. “They damn well better not kill the project,” Republican Lisa Murkowski

Biden backs scaled-down drilling plan for ConocoPhillips’ Alaska oil project

February 3, 2023

World Oil (Bloomberg) — The Biden administration telegraphed it could support a scaled-back drilling plan at ConocoPhillips’s proposed Willow project in northwest Alaska, even as it cited “substantial concerns” with the oil development and warned of further restrictions to limit its impact on wildlife and the climate. In an environmental review released Wednesday, the US Interior Department says it prefers an oil

ConocoPhillips joins rivals with bumper profit on higher energy prices

February 2, 2023

Yahoo Finance ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from stronger prices on tight supplies and robust demand. Global crude oil prices climbed 10.45% in 2022, thanks to a surge in demand from economies rebounding after the

U.S. oil giants Exxon Mobil, Chevron and ConocoPhillips challenged over ‘secretive’ tax practices

November 22, 2022

CNBC Oxfam on Monday filed shareholder resolutions against U.S. oil giants Exxon Mobil, Chevron and ConocoPhillips, saying a lack of transparency over their global tax practices poses a material risk for long-term investors. The international relief charity said the companies’ tax practices undermine the public’s interest in a fair tax system — especially in Global South countries “with the greatest tax revenue needs.” “Exxon,

Eni to join Exxon, Total, Shell, Conoco in Qatar’s mega-LNG expansion – sources

June 8, 2022

Yahoo Finance HOUSTON – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday. Exxon Mobil Corp, TotalEnergies SE, Shell, ConocoPhillips and Eni will participate in the North Field expansion,

Santos dispute with ConocoPhillips snags Alaska oil project, stake sale

April 1, 2022

World Oil Australia’s Santos Ltd. is locked in a dispute with ConocoPhillips over road access in Alaska, potentially holding up a $3 billion oil project, according to letters from both companies to the U.S. state’s government. The dispute could also delay Santos’s planned sale of its majority stake in the project, which could thwart its target of raising $2 billion

ConocoPhillips CEO says a decision to drill more today won’t see oil flowing for up to a year

March 9, 2022

CNBC ConocoPhillips CEO Ryan Lance told CNBC on Tuesday that a decision now to start drilling for new oil will not bring immediate relief to the elevated prices seen around the globe. Lance’s comments, made in an interview on “TechCheck,” come shortly after the President Joe Biden announced the U.S. was banning Russian oil imports in a time when fears of supply shortages have

Higher energy prices drive ConocoPhillips’ quarterly profit beat

February 3, 2022

Reuters U.S. oil producer ConocoPhillips topped market estimates for fourth-quarter profit on Thursday and boosted its plan for shareholder returns by $1 billion, as it benefited from sharply higher oil and gas prices. Easing of global travel restrictions and tight supplies have sent crude oil prices to seven-year highs, lifting earnings of shale producers including ConocoPhillips and helping many of

WPC 2021: ConocoPhillips CEO says U.S. government holds back oil supply

December 7, 2021

World Oil (Bloomberg) –In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government. An increasingly bitter war of words has developed between the Biden administration, which has called for more production to alleviate high energy prices, and an U.S. oil and gas sector that has kept output

ConocoPhillips announces completion of all-cash permian asset acquisition

December 2, 2021

ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of She…

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