Oil giant's profit shaved by a quarter

Conoco Phillips struggled with earnings in the fourth quarter, not least due to lower upstream output and falling prices. The rough end of the year played a role in the US oil and gas supermajor shedding a fourth off its bottom line result for the full year.
Photo: Garth Hannum/AP/Ritzau Scanpix
Photo: Garth Hannum/AP/Ritzau Scanpix

The world's largest publicly traded oil and gas company has, just like its rivals, had a tough 2019, when prices on both crude and gas made it more difficult for fossil fuel extractors to turn a profit, shows Conoco Phillips's annual financial statement published Tuesday evening CET.

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