By Jordan Blum
Connected: ConocoPhillips hikes dividend almost 40% amid weak oil costs
Just very last week, ConocoPhillips said it would up its dividend payments to buyers by almost 40 per cent at once-a-year price of about $500 million.
In April, ConocoPhillips said it would sell its United Kingdom-centered assets in the North Sea for $two.seven billion to London-centered Chrysaor. And, late past calendar year, ConocoPhillips sold its property in East Timor.
David Small, a senior analyst with the energy investigation organization Wood Mackenzie, claimed the new Australia deal suits with ConocoPhillips’ rrecent strategies.
“We now be expecting the U.S. organization to redeploy this cash into its North American unconventional and Alaskan positions,” Minimal claimed. “ConocoPhillips presently allocates all over 70 per cent of its money into its U.S. operations, so this sale, following the latest Timor Sunrise and U.K. divestments, is firmly in line with its approach of decreasing intercontinental publicity and expanding North American output.”
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