ConocoPhillips doubles down on investor returns after bumper oil and gas profits
Nov 3 (Reuters) - ConocoPhillips reported a jump in third-quarter profit on Thursday, extending a string of bumper earnings from global oil producers benefiting from higher energy prices and robust demand, and sweetened its share repurchase plan to $45 billion.
The company's larger U.S. rivals Exxon Mobil and Chevron have also reported strong results, rekindling calls for energy companies to pay more taxes.
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Total average realized price was $83.07 per barrel of oil equivalent (boe), ConocoPhillips said, 46% higher compared to a year earlier.
Production was 1.75 million barrels of oil equivalent per day (boed), an increase of 210,000 boed from the same period a year ago.
ConocoPhillips also raised its quarterly dividend by 11% and approved a $20 billion increase in the existing share repurchase program.
The Houston, Texas-based company's net income rose to $4.5 billion, or $3.55 per share, for the three months ended Sept. 30, from $2.4 billion, or $1.78 per share, a year earlier. (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur)