ConocoPhillips Doubles Profit to $4 Billion, Raises Dividend

ConocoPhillips more than doubled its third-quarter profit to $4 billion and raised its quarterly dividend by 11% on Thursday, joining a growing list of oil majors reporting enormous earnings gains as higher crude prices offset production disruptions caused by the Iran war. 97 estimate. 7 billion a year earlier, despite a decline in production. 40 per barrel of oil equivalent.

27 during the quarter, more than 31% above year-earlier levels. 4 million a year earlier. Although output from Qatar improved during the quarter, it remained below pre-war levels. ConocoPhillips increased its quarterly dividend from 84 cents to 93 cents per share. 2 billion in operating cash flow. The results follow similarly outsized earnings from other oil majors.