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...ConocoPhillips promised to keep showering returns on shareholders as it joined the roll-call of oil companies to report bumper 2023 earnings....
...Higher oil prices helped ConocoPhillips beat Wall Street estimates, reporting a jump in third-quarter profits as speculation swirls that it could join a recent flurry of industry dealmaking....
...The most obvious answer is ConocoPhillips, which was beaten by Diamondback Energy this weekend in the $26bn race to snap up Endeavor Energy Resources....
...That means the music can only play so long for the remaining shale consolidators such as ConocoPhillips....
...Earnings: Philip Morris, ConocoPhillips, Apollo Global Management, Kenvue, Hershey, T Rowe Price, Spirit Airlines and Ralph Lauren will report their latest quarterly earnings before Wall Street’s opening...
...On to today’s newsletter, Myles spoke to ConocoPhillips’ chief executive, who says Biden is still no ally of the oil industry, even after approving the company’s big Alaskan oil project....
...Diamondback Energy has agreed to buy Endeavor Energy Resources in a $26bn deal, beating ConocoPhillips in a race for one of America’s most sought-after private oil producers....
...Energy stocks fell as well, with ExxonMobil, Occidental Petroleum, and ConocoPhillips all losing more than 1.5 per cent....
...The move will pile pressure on those such as ConocoPhillips that have yet to secure their own deal....
...Oil supermajors Chevron, ExxonMobil, and ConocoPhillips all gained more than 3 per cent....
...Shares of Chevron, ConocoPhillips, and Occidental Petroleum advanced more than 0.5 per cent on Monday afternoon while ExxonMobil added 0.1 per cent....
...With a market capitalisation of nearly $120bn, NextEra ranks as the fourth-biggest US energy group after oil companies ExxonMobil, Chevron and ConocoPhillips....
...Other earnings: Eli Lilly, ConocoPhillips, Moderna, Molson Coors, Fox, Shopify and Paramount Global will report before the market opens....
...Energy stocks were among the worst performers in the S&P 500, with ConocoPhillips, ExxonMobil and Chevron dropping 4.7 per cent, 4.2 per cent and 2.9 per cent, respectively....
...The announcement comes as the Biden administration faces heavy scrutiny for its approval of ConocoPhillips’ $8bn Willow Project in Alaska earlier this year amid pledges to protect federal land from drilling...
...The research company noted that groups including BP, Saudi Aramco, ConocoPhillips, Japanese energy companies and Gina Rinehart’s Hancock Prospecting had all invested in Australia’s LNG sector over the course...
...It also names ConocoPhillips, Chevron and the American Petroleum Institute as defendants....
...The collective market capitalisation of the group — comprising ExxonMobil, Chevron, ConocoPhillips, EOG, Pioneer Natural Resources, Occidental Petroleum, Hess, Devon Energy, Diamondback Energy and Coterra...
...Phillips 66 was formed in 2012 through a spin-off of oil producer ConocoPhillips’ downstream assets. It is one of the biggest western refining companies, with 12 plants spread across the US and Europe....
...ConocoPhillips and Total have been mentioned as potential bidders but the Woodside talks did not flush out any rival offers, meaning a break-up of Santos could be on the cards....
...By way of reference, Citigroup reckons that ConocoPhillips cut about a quarter of Concho’s capital expenditure and overheads when it bought its smaller rival in 2020....
...The majority of shareholders at oil producer ConocoPhillips and refiner Phillips 66 also backed similar Follow This resolutions in 2021....
...Energy stocks were among the worst performers in the S&P 500 stock index, with ConocoPhillips, ExxonMobil and Chevron dropping 4.7 per cent, 4.2 per cent and 2.9 per cent, respectively....
...Many felt let down after the administration gave a greenlight to ConocoPhillips’ Willow oil project on federal land in Alaska last year....
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