CERA: CEOs say IOCs can grow in expanding markets

02/16/2004
Despite huge challenges, major oil companies still have room to grow in more competitive international markets, said top executives of such firms at Cambridge Energy Research Associates' annual energy conference that opened Feb. 11 in Houston.Corporate growth "is not an end unto itself. Our industry is here to serve the world's energy needs, and our efforts will only be sustainable if we deliver both growing returns and value in conjunction with growing energy supplies," said James J. Mulva, president and CEO of ConocoPhillips, in a luncheon speech Feb. 11.Major international oil companies (IOCs) have to deliver growth for investors without harming profitability "in a tough compe...
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