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ConocoPhillips 3Q profit tumble; production jumps

ConocoPhillips 3Q profit tumble; production jumps

ConocoPhillips says low natural gas prices and thin margins from its gasoline refining business sent its profit tumbling 71 percent in the third quarter, but the oil company is ramping up production as crude prices jump.
The nation's third-largest oil company said Wednesday that it made $1.5 billion, or $1 per share, for the quarter ended Sept. 30 compared with profit of $5.2 billion, or $3.39 per share, in the year-ago third quarter when oil and natural gas prices had peaked at record levels.
Revenue totaled $41.3 billion, down from $71.4 billion in the year ago quarter.


Updated : 2021-06-24 11:25 GMT+08:00