ConocoPhillips reports higher 2013 earnings

02/10/2014
ConocoPhillips reported full-year earnings of $9.2 billion in 2013, an increase from the $8.4 billion totaled in 2012, which included $1.2 billion from downstream operations before the separation of Phillips 66 on Apr. 30. Adjusted full-year earnings for 2013 were $7.1 billion compared with full-year 2012 adjusted earnings of $6.7 billion. Fourth-quarter earnings reflected the upward trend, as the company tallied $2.5 billion last year, up from $1.4 billion in fourth-quarter 2012. The company closed asset sales for proceeds of about $7 billion in fourth-quarter 2013, including the sale of interest in Kashagan to Kazakhstan state oil company KazMunayGas for $5.4 billion and the Algeria bus...
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