conoco

When Warren Buffett said he was 'dead wrong' to invest in ConocoPhillips, Conoco chief James Mulva must have taken note.

Conoco's report also includes the results of a company investigation into the cause of the leaks, it said, without elaborating.

Conoco's cumulative exploration spending over eight years was actually higher than Exxon as it tried to drill its way into the same league.

Conoco is grappling with intense public scrutiny as China's political leaders and state-run media take aim at the company.

In its latest statement, Conoco China reiterated that it "sincerely regrets these incidents in Bohai Bay and accepts its responsibility. "

Conoco today looks cheap at eight times forecast earnings for the next 12 months, with a near-4% dividend yield.

Conoco said points of undersea seepage found earlier have been stopped, including by reducing drilling platform pressure.

Production will not be restarted until a new development plan for the block is submitted by Conoco and approved.

The chief executives of Exxon, Chevron and Conoco, along with a senior executive from Shell, are all appearing.

After spending aggressively for years, Conoco has now made a U-turn by promising to shed assets, cut debt and boost its dividend.

This summer the Japanese government joined the experiment and Conoco Phillips finished boring the test well on the North Slope of Alaska.

Conoco operates the portion where the two spills and related incidents occurred.

The Conoco-BP pipeline isn't the only Alaska gas project on offer.

"Koch simply refuses to pay its share as ordered by this court, " Conoco said.

But Conoco's also in a slightly different spot than other super majors, Weiss says.

In 1981, DuPont, a diversified manufacturer of chemical-based products, made a bid to purchase the oil giant Conoco.

The Syncrude stake sale is the second big deal announced by Conoco in a matter of weeks.

Most of the oil Conoco found, it said, tested as fuel oil in other words, pre-existing pollution.

Conoco stock has been on a tear this past year, rising more than 40%, although it's still off sharply from its 2008 high.

Conoco, which operates the field, owns it along with local partner China National Offshore Oil Corp.

Conoco estimated the total spill at 3, 223 barrels of crude oil and related fluids.

Conoco's steps toward paying penalties follow weeks of confrontation with China's state organs, in particular the government-run media.

The Conoco acquisition opened a wild new chapter in U. S. business history.

The SOA said it would study Conoco's declaration.

Conoco, the project's operator, owns the rest.

Conoco has said it will establish a fund to cover its responsibilities.

Though operated by Conoco, the field is 51%-owned by China National Offshore Oil Corp.

Going the other way, Conoco's shareholders received enough to buy about 10 per cent of Exxon.

By March 2007, Koch Industries had paid just $440, 899 and still owed $2. 97 million for its share of the cleanup, Conoco told the court.

Berkshire, which lost more than $1 billion on that investment, has cut its Conoco stake by more than half since late 2008.

Only 700 barrels of crude and 2, 500 barrels of oil-based drilling mud were spilled into the ocean, Conoco said in previous statements.

'We believe these lessons will help us in China and around the world, ' Conoco said.

A Conoco spokesman didn't dispute the methodology, nor did he confirm it.

Apart from Conoco, Anadarko, BP and Husky Energy have all been involved in offshore oil and gas exploration in China.

The water-management agency's order halted 235 wells, Conoco said, including 181 producing wells and 54 injecting wells.

Conoco says they are 3% of its annual output.

The project includes 235 wells that Conoco's figures suggested produced about 114, 400 barrels of oil per day in 2010.

According to Conoco, personnel covered 87, 000 kilometers of shoreline by car and another 5, 600 kilometers on foot.

Figures from Conoco suggest the field produced about 114, 400 barrels a day last year, and in recent months had sagged below that level.