ConocoPhillips Needs Some Clarity - Forbes

By
Viraj
on October 28, 2009 8:01 PM | | TrackBacks (0)
, 10.28.09, 11:56 AM EDT After a bad quarter, it's time for chief Jim Mulva to fill us in on his plans.

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HOUSTON -- The third quarter was ugly for ConocoPhillips . The company announced this morning that profits fell 71% to $1.5 billion as revenues shed 42% to $41 billion. - news - people ) later in the week. That's due largely to Conoco's greater dedication to natural gas and refining. Gas prices bottomed out in the quarter below $3 per million BTU, while the refining business was in the doldrums, socked by weak gasoline demand and historically high inventories of diesel.

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This page contains a single entry by Viraj published on October 28, 2009 8:01 PM.

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