US operator ConocoPhillips posted a net profit of $1.58 billion for the second quarter, a slight drop compared to $1.64 billion in the same period of 2018.
Revenues dropped to $8.38 billion from $9.24 billion year-on-year.
The results were primarily driven by a financial tax benefit related to a $600 million UK asset sale, settlement of certain tax disputes, and amounts recognised from the PDVSA International Chamber of Commerce settlement in Venezuela, according to the company.
