ConocoPhillips increased its quarterly profit 1.5 times

The American oil and gas company, ConocoPhillips, increased its net profit 1.5 times in the first quarter compared to the same period last year to $888 million, the finversia.ru project writes with reference to the company's accounts. Quarterly revenue increased by 15.3% and amounted to 8 billion 961 million dollars. The level of debt for the quarter fell to 17 billion 46 million dollars from 26 billion 435 million dollars a year earlier. ConocoPhillips reduced hydrocarbon production by 20% to 1 million 269 thousand barrels of oil equivalent per day. The company raised the forecast for hydrocarbon production for the current year.

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