ConocoPhillips news stories on Newser

Delta Buys Own Oil Refinery

Polly Davis Doig — Tue, 01 May 2012 06:36:16 CDT

Delta Air Lines is pocketing a Pennsylvania oil refinery in an industry-first move to clip its ever-burgeoning jet fuel costs, which soared to $12 billion last year. The $150 million deal—about the cost of a new jetliner, notes Reuters —is set to satisfy 80% of the airline's US fuel...

Walmart Rules Fortune 500 List

John Johnson — Thu, 05 May 2011 13:10:10 CDT

Turns out, last year was a pretty good one for US businesses. Total revenue for Fortune 500 companies jumped 10.5% to $10.8 trillion, while profits surged 81%. "We've rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans," write the editors...

Oil Giants (Minus BP) Create Spill Response System

Nick McMaster — Wed, 21 Jul 2010 16:46:09 CDT

Four oil giants are teaming up to create an early-response system to contain disasters like the Deepwater Horizon spill. Exxon, Chevron, Royal Dutch Shell, and ConocoPhillips are committing an initial $1 billion to create the nonprofit Marine Well Containment Co., though maintaining the "strike force" will cost more over time....

Oil Giants All Have Same Lame Spill Plan: Dems

Kevin Spak — Tue, 15 Jun 2010 13:20:39 CDT

Lord help us if there’s another deepwater spill, because the big oil companies all have a pretty much identical response plan to BP, congressional Democrats complained today, grilling executives from Chevron, Exxon, Shell, BP, and Conoco Phillips. All the companies hired the same third party to draft their plans, the...

Economy May Tank Palin's $30B Pipeline

Harry Kimball — Wed, 19 Nov 2008 14:50:00 CST

A sour economy and tumbling oil prices might sink Sarah Palin’s oft-touted Alaskan natural-gas pipeline, the Wall Street Journal reports. Low prices and increased natural-gas production in the lower 48 are causing energy companies to reconsider the $30 billion project. Without the revenue-generating pipeline, Alaskans who depend on the state’s...

Guess What Oil Execs Make

John Johnson — Wed, 21 May 2008 20:19:22 CDT

Big Oil executives today were grilled by the Senate on soaring prices, and Sen. Patrick Leahy asked for their salaries, the AP reports. Here's what they said: J. Stephen Simon, Exxon: $12.5 millon. John Lowe, ConocoPhillips: Did not recall Peter Robertson, Chevron: Did not recall. John Hofmeister, Shell, $2....

Wal-Mart Tops Fortune 500

M. Morris — Mon, 21 Apr 2008 16:07:52 CDT

Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports....

House Passes Bill to Halt Big Oil Tax Breaks

Peter Fearon — Thu, 28 Feb 2008 05:36:09 CST

Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the...

Venezuelan Prez Threatens to Cut Off US Oil

Wesley Oliver — Mon, 11 Feb 2008 03:00:00 CST

Venezuelan President Hugo Chavez is threatening to cut off US oil supplies if Exxon Mobil wins a court ruling to seize billions of dollars in Venezuelan assets, AP reports. The Texas-based oil giant has challenged Venezuela’s efforts to nationalize a multi-billion-dollar oil project, and the fiery leader promised an "economic...