Conservative for Now, Conoco Sees Decade of Growth

摘要

ConocoPhillips has hit the reset button on a 10-year plan disrupted by last year's historic pandemic-led downturn. The recently completed acquisition of Concho Resources will allow Conoco to pay out larger shareholder distributions in the coming years while still growing output as previously hoped. Like most major US E&Ps, however, Conoco will withhold that growth until Opec-plus production cuts ease and oil demand fully recovers from pandemic restrictions (OD Jun.28'21).