ConocoPhillips Announces $2.6 Billion in Q3 Profits

by Noreen Nielsen

This morning, ConocoPhillips announced their 2011 third-quarter earnings, reporting profits of $2.62 billion — a 14 percent drop due to  production losses in China and Libya — bringing their total profits in 2011 to $9 billion. Below is a quick look at some other facts about ConocoPhillips:


2 Responses to ConocoPhillips Announces $2.6 Billion in Q3 Profits

  1. denim says:

    Conspicuous by its absence is the amount of this cash that was invested in new start up businesses…you know, the ones that hire the unemployed. Or the funding and construction of solar farms…they are energy companies and it doesn’t have to all come from the dinosaur age.

  2. Jeff Huggins says:

    Thanks for this info, Noreen.

    I’ve never analyzed ConocoPhillips, but I’ve analyzed ExxonMobil before.

    Some very interesting statistics include how much of their business is overseas vs. domestic: the proportion of total capital employed, refinery capacity, revenues, earnings, reserves, and so forth. At least in ExxonMobil’s case, such stats show that they are much more an international company than a U.S. company. In other words, many folks tend to think that these companies are good ole’ American “patriotic” companies that actually care about the U.S. in any healthy way — ha! ha! — so it helps to see that most of their business by nearly any measure is outside the U.S. For example, in the case of ExxonMobil, last I checked, between two-thirds and 75% of their investment, assets, and business by any measure was outside the U.S.

    It would be very, very interesting to take the big three “U.S.” oil companies — ExxonMobil, Chevron, and ConocoPhillips — and add their key stats together according to each measure, to see how much of the big three’s investment activity, operations, revenues, and earnings are inside the U.S. and how much of them are outside the U.S.

    Also, R&D is another key stat. What portion of revenues, and what portion of earnings, is total R&D? Of course, the vast majority of their R&D will be on conventional oil and gas stuff — no real help to climate change — and only a very small portion (probably unreported) will have any real relationship to solar, wind, geothermal, and etc.

    Be Well,