ConocoPhillips to Cut Refining Emissions
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The nation's biggest oil refiner agreed yesterday to spend more than $525 million to clean up nine plants scattered across the country, effectively removing 47,000 tons of harmful pollution from the air each year.
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Measures to reduce emissions of methane from gas pipelines and farms are working, research suggests.
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US oil giant ConocoPhillips has announced a $US2.4billion ($3.3billion) strategic alliance with Russia&#39;s largest oil company, Lukoil, under which Conoco will buy a 7.6per cent stake in the Russian company and get a share of joint projects.
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Core Gulf producer Kuwait will meet its OPEC cut by lowering oil product sales by 190,000 barrels per day (bpd) during first-quarter refinery maintenance, a Kuwaiti oil official said on Wednesday.
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ConocoPhillips (COP:NYSE - news - research) will seek to buy up to a quarter of Russian oil giant Lukoil, Reuters reported Friday, citing an industry source familiar with the matter.
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By Bloomberg, AP and Staff Reports  ConocoPhillips had a leak in a pipe at its refinery in Wilmington, Calif., a state government Web site reported Thursday.
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HOUSTON  Â Record oil prices helped ConocoPhillips post a 37 percent increase in fourth-quarter profit even though it produced less crude oil and natural gas than a year earlier.
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Conoco's higher upstream income wasn't able to overcome lower refining results.
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ConocoPhillips said that its fourth-quarter profit more than doubled because of high oil and gas prices and better refining margins.
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The Environmental Protection Agency has enjoyed unusual success in bringing down pollution levels from some of the nation's largest oil refining companies.
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By JOHN HEILPRIN  WASHINGTON - Nine months before agreeing to let ConocoPhillips delay a half-billion-dollar pollution cleanup, the government's top environmental prosecutor bought a $1 million vacation home with the company's top lobbyist.
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ConocoPhillips COP.N, the No. 3 U.S.  oil company, on Wednesday reported a 53 percent jump in  quarterly profit, as soaring oil and gas prices offset the  impact of lower production volumes.
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ConocoPhillips COP.N on Tuesday said  third-quarter crude oil and natural gas production will be 7  percent lower than levels in the previous quarter due to  scheduled maintenance in the North Sea and Alaska, as well as  normal seasonal declines.
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ConocoPhillips won a $2 billion stake in Russia's Lukoil and said it aimed to raise that to 20 percent in a sweeping alliance that allows the two oil majors to tap vast reserves in northern Russia and Iraq.
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US oil major ConocoPhillips is seeking to buy up to 25 percent in Russian oil giant Lukoil to add billions of barrels of reserves to its books, an industry source familiar with the matter said on Friday.
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ConocoPhillips said on that its worldwide production of hydrocarbons probably rose in the final three months of 2007 from the third quarter, and oil and natural gas prices were also higher.
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Delays to the restart of a crude unit at BP Plc's  Texas City, Texas, refinery will cause the major to miss its goal of raising crude oil processing rates at the refinery to 400,000 barrels per day by the end of 2007, a source familiar with refinery operations said Monday.