ConocoPhillips

HOUSTON, October 28, 2009 --- ConocoPhillips [NYSE:COP] Chairman and Chief Executive Officer Jim Mulva commented, "We operated very well during the third quarter, with E&P production and R&M refinery utilization rates higher than a year ago. Through September year to date, our E&P production has increased nearly 100,000 BOE per day, or more than 5 percent, compared with the same period in 2008."    » read more »

2010 capital budget anticipated to be approximately $11 billion

HOUSTON, Oct. 7, 2009 --- ConocoPhillips [NYSE:COP] today announced an increase in its quarterly dividend along with plans to improve its financial position and increase returns on capital through a combination of enhanced capital discipline and portfolio rationalization.    » read more »

HOUSTON, June 29, 2009 -- "ConocoPhillips is fully committed to the prompt enactment of national legislation in the United States to address the growth of greenhouse gas emissions while ensuring the availability of secure, affordable and reliable energy. We commend the House of Representatives leadership and members for their efforts to advance federal climate legislation.

While the American Clean Energy and Security Act (ACESA) contains many of the elements intended to balance greenhouse gas emissions reduction with economic growth and national security needs, we do not believe the bill passed June 26 achieves these aims.    » read more »

KazMunayGas, ConocoPhillips and Mubadala Announce Signing of Project Agreements for Exploration and Development of N Block, Offshore Kazakhstan

HOUSTON, June 11, 2009 – ConocoPhillips [NYSE: COP], JSC National Company KazMunayGas (KMG) and Mubadala Development Company PJSC (Mubadala) today announced that they have signed project agreements allowing the joint exploration and development of the Nursultan Block (N Block) located in offshore Kazakhstan.

KMG as majority owner will hold a 51 percent interest in the subsoil use contract and the remaining 49 percent will be shared equally between ConocoPhillips and Mubadala. The project will be operated by a Kazakh LLP, which will be jointly owned by the participants in proportion to their equity.    » read more »

May 18, 2009, Juneau, Alaska – Alaska Governor Sarah Palin welcomed news today that the Ninth Circuit Court of Appeals closed its review of the Department of Energy’s decision authorizing an extension of the Kenai LNG facility’s export license into 2011.

This decision resolves a long-running dispute about allowing continued export of Cook Inlet gas while also ensuring gas supplies are made available for local utilities. The foundation for the court’s decision is a recently announced agreement by ConocoPhillips to supply all of Chugach Electric’s gas supply requirements through the export term, and a large part of its needs through 2016.    » read more »

May 13, 2009, Juneau, Alaska - Alaska Governor Sarah Palin today welcomed the “excellent news” that Chugach Electric Association and ConocoPhillips have contracted to satisfy Chugach’s unmet natural gas needs into 2011. This resolves a dispute over the two-year extension of the export license for the liquefied natural gas facility at Kenai operated by ConocoPhillips and Marathon Oil.

“This is a big victory for consumers, who are facing huge energy challenges,” Governor Palin said.

The contract, which was filed this afternoon with the Regulatory Commission of Alaska, continues through 2016. It is intended to avert all of Chugach’s projected gas shortfall through June 2011, half of the shortfall thereafter through December 2015, and about 25 percent in 2016.    » read more »

HOUSTON, May 14, 2009 --- ConocoPhillips [NYSE:COP] today announced that Jim Gallogly, executive vice president, Exploration & Production, has elected to retire from the company to become the Chief Executive Officer of LyondellBasell, with the following senior management changes effective immediately.

Ryan M. Lance, currently president, Exploration & Production – Asia, Africa, Middle East and Russia/Caspian, will become senior vice president, Exploration & Production – International.

Kevin O. Meyers, currently president, Canada, Exploration & Production, will become senior vice president, Exploration & Production – Americas.    » read more »

HOUSTON, April 23, 2009 - ConocoPhillips [NYSE:COP] today reported first-quarter earnings of $840 million, or $0.56 per share. This compared with earnings of $4,139 million, or $2.62 per share, for the same quarter in 2008. Revenues were $30.7 billion, versus $54.9 billion a year ago.

“Although we delivered solid operational performance in our upstream business during the first quarter, lower commodity prices and realized margins negatively impacted our financial results,” said Jim Mulva, chairman and chief executive officer. “Our upstream business produced 2.4 million BOE per day, including our share of LUKOIL’s production. In the downstream business, our worldwide refining crude oil capacity utilization rate was 81 percent, reflecting planned turnaround activity.    » read more »

HOUSTON, March 11, 2009 -- ConocoPhillips [NYSE:COP] held its annual analyst meeting today in New York. The company’s senior leadership team outlined ConocoPhillips’ strategic objectives and operating plans for 2009, and explained how the company will maximize the value of its asset portfolio in a challenging economic and political environment.    » read more »

Houston, Texas, and Boulder, Colorado, July 1, 2008 – ConocoPhillips [NYSE:COP] announced today that it has signed a $5 million, multi-year sponsored research agreement with the Colorado Center for Biorefining and Biofuels (C2B2), a research center of the Colorado Renewable Energy Collaboratory, to develop new ways to convert biomass into low-carbon transportation fuels.    » read more »

Decision Could Echo Across the Nation

CHICAGO -- June 6 2008 -- In a case that might impact oil refineries around the nation, plans by ConocoPhillips to expand its refinery in Roxana, IL were derailed today when an appeal board of the US Environmental Protection Agency upheld a challenge to the air permit required for the project.

The decision sends ConocoPhillips and Illinois EPA, which had granted the permits, back to the drawing board. The legal challenge argued that harmful air pollution from the refinery’s flares, which relieve pressure in the refining process, was not being sufficiently controlled.    » read more »

Governor Lauds Decision

June 3, 2008, Juneau, Alaska – Alaska Governor Sarah Palin today lauded the decision by the U.S. Energy Department to approve the application of Marathon Oil Corporation and ConocoPhillips for an extension of the Kenai Liquefied Natural Gas (LNG) Plant export license. The two companies filed for the extension in January 2007.

“In these times of economic uncertainty, this is great news for the state and its residents,” Governor Palin said. “This extension will secure a future for the LNG operation and is another step toward ensuring energy supplies and energy security for Alaska.”    » read more »

WASHINGTON -- May 21, 2008 – Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) convened a hearing this morning to examine the explosive rise in oil prices in recent months. The hearing featured testimony from executives of five major oil companies – ExxonMobil, ConocoPhillips, Chevron, BP America and Shell.

Exxon building, Houston, Texas: Photo by Tom Haymes (CC)    » read more »

Washington, D.C. -- May 21, 2008 -- Senator Arlen Specter (R-Pa.), Ranking Member of the Senate Judiciary Committee, today questioned the top oil industry executives on the skyrocketing price of oil at a Senate Judiciary Committee hearing.

In his opening remarks, Senator Specter noted the primacy of the problem:

Gas prices, May 2008: Photo by aaron@digtialcole (CC)

“We are obviously in a crisis, national, international, with the escalating costs of oil and the intolerable prices of gasoline at the pump. It's important that we bear all of our resources to try to figure out what to do about it.”    » read more »

March 31, 2008 -- The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) has reached a Memorandum of Understanding with ConocoPhillips and Iowa State University to identify promising cellulosic biomass conversion technologies over the near, mid- and long-term. The collaboration will bring three independently established programs together to help identify the most efficient and cost-effective methods for making liquid transportation fuels from plants.    » read more »