Tag: ConocoPhillips

Chevron abandons Arctic drilling plans

Chevron told Canada’s National Energy Board Wednesday that it would pull out of Beaufort Sea.  More »

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »

Citgo says Conoco probe may ‘freak out’ potential buyers

ConocoPhillips claims Venezuela’s state-owned oil company is trying to avoid paying compensation for assets that former President Hugo Chavez nationalized in 2007.  More »

Goodrich pares spending plans, considers selling Eagle Ford assets

In the first half of next year, Goodrich will explore “strategic alternatives” for all or a portion of its Eagle Ford acreage to give the company greater flexibility to expand development under better market conditions, the company said in a release Wednesday.  More »

BP sees $1 billion in restructuring charges as oil falls

The British oil giant is gearing up to weather at least two years of lower oil prices and the contraction in the oil industry that goes with it.  More »

Crude rebounds from five-year low

Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut.  More »

ConocoPhillips cutting capital spending by 20 percent

The cut reflects lower spending on major projects, several of which are nearing completion.  More »

Exxon Mobil drops to No. 4 in world rankings of largest oil firms

While Exxon Mobil fell, Russian and Chinese companies gained in the rankings.  More »

Production starts at natural gas development in Malaysia

Startups in Malaysia are expected to add about 60,000 barrels of oil equivalent per day to ConocoPhillips production volumes by 2017.  More »

ConocoPhillips announces second oil discovery in Senegal

Cairn Energy said initial analysis shows the well has “excellent reservoir sands” with as much as 118 feet of net oil pay.  More »

ConocoPhillips considers spending cuts in face of falling oil prices

The largest independent said both production and profits rose in the third quarter, but warned it may begin to pull back its budgets in 2015 as prices fall.  More »

Feds set ground rules for ConocoPhillips project in Alaska

ConocoPhillips’ plans for the first oil production facilities from federal lands in Alaska moved one step closer to reality on Wednesday, as the Interior Department released a critical environmental study on the project.  More »

Oil companies want more time for Arctic drilling

Three oil companies with billions invested in Arctic drilling leases are pleading with the Obama administration for extra time to hunt for crude under waters north of Alaska, but so far, federal regulators have been skeptical.  More »

Oil producers unite to lobby for crude exports

Fourteen of the nation’s largest independent oil companies are banding together to lobby for the right to export crude around the world. It’s a sign the industry is revving up for a big, coordinated push to dismantle those trade restrictions next year.  More »

Oil firms reach for subsea standards to cut costs, FMC CEO says

The next generation of tools designed to help energy companies process oil and gas deep under the oceans could follow uniform industry designs, FMC Technologies CEO John Gremp said.  More »
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