29 March 2024
ConocoPhillips boosts profits with Nigeria exit but plans reduced 2015 spending
Publication date: 31 October 2014
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ConocoPhillips’ exit from its Nigerian business helped boost its nine-month earnings for visual_editor014 by more than USD visual_editor00 million against the same period last year, closing out at end-September at USD 6.9 billion. However the US company plans to reduce its spending by USD 700 million next year as the impact of low oil prices begins to be felt, it reported this week in its third quarter earning statement.