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ConocoPhillips reports smaller quarterly loss

21-26210794.5 (40119086) - 07_10_2016 - rsoil.jpg
ConocoPhillips, the largest US independent oil producer, posted a much smaller quarterly loss from a year earlier, when it recorded a US$2.7 billion charge.

[BENGALURU] ConocoPhillips, the largest US independent oil producer, posted a much smaller quarterly loss from a year earlier, when it recorded a US$2.7 billion charge.

The company's net loss narrowed to US$35 million, or 3 US cents per share, in the fourth quarter, from US$3.45 billion, or US$2.78 per share.

Excluding Libya, production was almost unchanged at 1.59 million barrels of oil equivalent per day.

REUTERS

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