ConocoPhillips has quarterly loss, cuts capex again
Add BT as a preferred source[HOUSTON] ConocoPhillips, the largest independent oil and gas company, on Thursday reported a quarterly loss and again slashed its 2015 capital expenditures, citing lower crude prices.
ConocoPhillips, which previously announced plans to cut 2015 spending by 20 per cent in December, said it now expects to spend US$11.5 billion, down from a prior projection of US$13.5 billion.
ConocoPhillips said its fourth-quarter loss was US$39 million or 3 cents per share, compared with US$2.5 billion, or US$2.00 per share in the same quarter a year earlier.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
