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ConocoPhillips posts 4th-quarter loss, slashes dividend

HOUSTON — ConocoPhillips posted a wider-than-expected loss in the fourth quarter and slashed its quarterly dividend by 66 percent as oil prices continue to drop. The energy company’s stock fell 4 percent before the market open on Thursday. ConocoPhillips said it is lowering its dividend to 25 cents per share from 74 cents per share. The dividend is payable on ...

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Losses elsewhere, but profits in Alaska, reports ConocoPhillips

JUNEAU — ConocoPhillips reported losing $179 million in the quarter that ended June 30, compared to profits of $2.1 billion in the same quarter last year. But its Alaska operations, reported separately Thursday, remained profitable even while oil prices plunged over the last year. The company is closely watched as the largest producer of oil in Alaska, as well as ...

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Plunge in oil prices forces re-evaluation of projects, costs

KUALA LUMPUR – A 40 percent drop in oil prices over the last year has shaken up the energy sector, forcing companies to re-evaluate projects worth billions of dollars and sift through balance sheets to cut costs, executives said this week at a conference in Malaysia. Companies are also looking at forming alliances to reduce risk as they ride out ...

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Shell-BG deal may be end point rather than harbinger: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) KUALA LUMPUR – There is a widespread assumption that weak commodity prices are likely to spark a wave of merger and acquisition activity as stronger companies seek to buy assets on the cheap. The $70 billion buyout of BG Plc by larger rival Royal Dutch Shell is generally ...

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Conoco has quarterly loss, cuts capex again on oil slide

ConocoPhillips <COP.N>, the largest independent oil and gas company, on Thursday reported a quarterly loss and again slashed its 2015 capital expenditures, citing lower crude prices. Rising supplies of oil from sources including North American shale basins and weakening demand have left global markets flooded with oil, a market imbalance that has caused prices to plummet almost 60 percent since ...

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