News Wires — U.S. oil producer ConocoPhillips said on Tuesday its first-quarter adjusted profit was marginally higher, as expenses ate into gains from higher production.
Adjusted net earnings came in at $1.15 billion, or $1 per share, in the quarter ended March 31, compared with $1.14 billion, or 96 cents per share, a year earlier.
Total production, excluding Libya, rose by 94,000 barrels of oil equivalent per day (boepd) to 1.32 million boepd in the quarter.
- Reuters