Conoco boosts oil production

Caitlin Morrison
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US OIL firm ConocoPhillips posted earnings of $2.7bn (£1.7bn) for the third quarter of 2014, up from $2.5bn last year.

Third-quarter production from continuing operations was 1.473m barrels of oil equivalent per day (boed), an increase of 25,000 boed on the same period of 2013.

Conoco said growth was primarily due to new production from development programmes and major projects. Chief executive Ryan Lance said the firm was “meeting its growth milestones”.