18 April 2024
ConocoPhillips cuts capex, profits tumble
Publication date: 30 January 2015
Gas Strategies Group
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ConocoPhillips this week vowed to shave off 15% of its previous investment spending this year, confirming its place on a growing list of energy producers planning to reduce capex amid the current oil price environment. The company also revealed sharply lower annual profits and its first negative bottom-line margin in over five years.