Conoco Philips is sticking to ’09 budget with $60 crude
The chief executive officer of ConocoPhillips announced recent gains in crude oil prices will help generate industry cash flow, but for now the U.S. oil major plans to stick to its $12.5 billion budget for 2009.
Jim Mulva, Conoco’s CEO, stated:
I think the fact that oil prices might be between $50 and $60 dollars is certainly helpful with providing cash flow for reinvestment in the industry.
For full story, click here
Comment |
|
Tweet |
|
All content Copright 2011 Dig Media Inc. Disclaimer
Email
Print
Reproduction Request
Fri, May 15, 2009
Post by Mike Rodger, Oil Reporter