Здравствуйте. Вся информация этого сайта бесплатна без рекламы. Вы можете сделать пожертвование и поддержать развитие этого сайта. Спасибо.

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2015-01-31 15:10:00

CONOCO CUTS $2 BLN

CONOCO CUTS $2 BLN

ConocoPhillips has shed an additional $2 billion from its capital expenditures for 2015, decreasing total spending to $11.5 billion from the previously reported $13.5 billion, in response to the continued decline in oil prices. The $13.5 billion was already down 20% from 2014.

The reductions come primarily from the deferral of onshore drilling and exploration programs in the US Lower 48, and deferral of major project spending. The company in December said it plans to significantly reduce its unconventional exploration programs in 2015.

ConocoPhillips reported a fourth-quarter 2014 net loss of $39 million, compared with fourth-quarter 2013 earnings of $2.5 billion. Excluding special items, fourth-quarter 2014 adjusted earnings were $700 million, compared with fourth-quarter 2013 adjusted earnings of $1.7 billion.

Full-year earnings were $6.9 billion, compared with full-year 2013 earnings of $9.2 billion. Excluding special items, full-year 2014 adjusted earnings were $6.6 billion, compared with full-year 2013 adjusted earnings of $7.1 billion.

"We are responding decisively to a weak price outlook in 2015 by exercising our capital and balance sheet flexibility," said Ryan Lance, ConocoPhillips chairman and chief executive officer. "In this environment our priorities are to protect our dividend and base production, stay on track for cash flow neutrality in 2017, and preserve future opportunities."

With the revised budget, the company now expects 2-3% production growth in 2015 from continuing operations, excluding Libya. First-quarter production for this year from continuing operations is expected at 1.57-1.61 million boe/d, also excluding Libya.

The company, along with Chevron Corp. and BP PLC, agreed on Jan. 28 to together explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico.

ogj.com

Tags: CONOCO, DRILLING, OIL, PRICES,

Chronicle:

CONOCO CUTS $2 BLN
November, 20, 09:05:00

INDIA'S GAS WILL UP

REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.

CONOCO CUTS $2 BLN
November, 20, 09:00:00

NORWAY SELLS OIL & GAS

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

CONOCO CUTS $2 BLN
November, 20, 08:55:00

OIL PRICES UP

WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.

CONOCO CUTS $2 BLN
November, 20, 08:50:00

U.S. RIGS UP 8 TO 915

U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00