Finance

ConocoPhillips cuts capex in spite of oil price increase

Company plans to spend majority of its capital over the next decade in the US, with emphasis in the Permian basin

Conservative approach: ConocoPhillips chief executive Ryan Lance said the company would not increase its capital budget in spite of a spike in oil prices
Conservative approach: ConocoPhillips chief executive Ryan Lance said the company would not increase its capital budget in spite of a spike in oil pricesPhoto: ANDREW MANGUM/UPSTREAM
Houston
ConocoPhillipsAlaskaPermian BasinUSIndonesia
Published 30 June 2021, 18:57Updated 1 July 2021, 07:29