Conoco results beat estimates, cuts capex amid low oil price

July 30, 2015 11:59 AM

41 0

Conoco results beat estimates, cuts capex amid low oil price

ConocoPhillips (COP.N), the largest U.S. independent oil and gas company, reported quarterly results that beat analysts' expectations Thursday and said it would cut capital expenditure as low crude oil prices persist.

The Houston-based company said it would cut 2015 capital spending to $11 billion from $11.5 billion, and also lowered its forecast for operating expenses.

Also read: 2 Abu Dhabi banks to merge into largest Gulf Arab bank

Read more

To category page

Loading...