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ConocoPhillips cuts budget 20 percent amid lower oil prices

2014-12-08 20:28:24| Energy - Topix.net

Amid falling oil prices, ConocoPhillips said Dec. 8 its capital budget for 2015 is $13.5 billion, down about 20 percent from its 2014 budget of $16.7 billion . The Houston-based company said the decrease reflects reduced spending on major projects, several of which are nearing completion, and deferred spending on North American unconventional plays.

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