VOL. XLV
No 51/52
23/30-December-2002
SUPPLY/DEMAND
Conoco Phillips Cuts Production Target, Plans To Boost Cost Savings And Asset Sales
ConocoPhillips reduced its production growth target and announced plans for fresh asset sales and cost efficiency targets at its first strategy presentation as a merged entity on 22 November. ConocoPhillips CEO Jim Mulva said that in order to improve return on capital employed (ROCE) to 12-14% over the next several years, the company would reduce capital spending...
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