ConocoPhillips posts quarterly loss as crude prices crash

October 29, 2015 11:12 AM

29 0

ConocoPhillips posts quarterly loss as crude prices crash

ConocoPhillips (COP.N), the largest U.S. independent oil company, reported a quarterly loss, compared with a year-earlier profit, as the slump in crude prices sapped profitability.

The Houston-based company also said it would further cut its 2015 capital budget, to $10.2 billion from $11.0 billion.

Also read: BAT Wins Reynolds With Sweetened $49.4 Billion Buyout Bid

Read more

To category page

Loading...