ConocoPhillips joins rivals with bumper profit on higher energy prices
ConocoPhillips said on Thursday profit more than doubled to $18.7...
ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from higher prices on tight supplies and robust demand.
Houston-based ConocoPhillips also declared a variable dividend of 60 cents, and said it plans to return $11 billion to shareholders in 2023.
ConocoPhillips expects capital expenditure to be between $10.7 billion and $11.3 billion this year which includes spending on its Willow oil and gas drilling project in Alaska, which received scaled-back support from the Biden administration on Wednesday.
U.S. weekly jobless claims fell to lowest level since April at end of January
The numbers: The number of Americans who applied for unemployment benefits at the end...
The numbers: The number of Americans who applied for unemployment benefits at the end of January fell to a nine-month low of 183,000, signaling the U.S. labor market is still going strong despite more reports of corporate layoffs.
Economists polled by the Wall Street Journal had forecast new claims would total 195,000 in the seven days ending Jan 28. The figures are seasonally adjusted.
The number of people applying for jobless benefits is one of the best barometers of whether the economy is getting better or worse.
US stock futures rise early Thursday following the Fed's latest interest rate decision....
US stock futures rise early Thursday following the Fed's latest interest rate decision. Meanwhile, Meta stock surged almost 19% in premarket trading after the company beat revenue estimates and announced a $40 billion stock buyback. Here are the latest market moves.
Earnings on deck: Alphabet, Apple, and Amazon, all reporting.
EIA: US crude, gas production took different paths in Nov.
US crude oil production slipped from a 31-month high of 12.41 million barrels per day in October to 12.38...
US crude oil production slipped from a 31-month high of 12.41 million barrels per day in October to 12.38 million bpd in November, while gross natural gas output in the contiguous US jumped by 0.2 Bcf/d to a record 112.2 Bcf/d during the month, the Energy Information Administration reported. EIA figures also show that domestic demand for crude and petroleum products increased by 178,000 bpd to 20.59 million bpd in November.
The Biden administration next year will start penalizing...
The Biden administration next year will start penalizing energy companies whose methane emissions exceed a certain threshold, but exactly how those emissions will be quantified remains unclear, since technologies that could make precise measurements are not yet fully developed. Even leaving aside their technical limitations, methane tracking and mitigation technologies face a variety of other challenges, including large-scale deployment and litigation risks.
