March 2008

Trends and Resources

HP Impact: HPImpact: Refining margins, product prices boost major's earnings

ConocoPhillips (CP) reported a higher net income for fourth-quarter 2007 as compared to the same quarter in 2006 in its most recent filing. The company announced a net income of $4,371 million vs. $3,..

Weirauch, Wendy, Hydrocarbon Processing Staff

ConocoPhillips (CP) reported a higher net income for fourth-quarter 2007 as compared to the same quarter in 2006 in its most recent filing. The company announced a net income of $4,371 million vs. $3,197 million for the same quarter in 2006. Revenues were $52.7 billion vs. $41.5 billion a year ago. "During the fourth quarter, our upstream business produced 2.26 million barrels of oil equivalent/day (bpdoe), including our share of LUKOIL's production," according to Jim Mulva, chairman and CEO. "In the downstream business, our worldwide refining crude oil capacity utilization rate improved to 95%. CP ended the quarter with a debt of $21.7 billion, a debt-to-capital ratio of 19% and a cash

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