ConocoPhillips Reports Severe Losses On Depressed Prices, Cuts Dividends And Capital Spending

In line with the market expectations, ConocoPhillips, the world’s largest independent exploration and production company by proved reserves and annual production, reported disappointing 2015 financial results, primarily due to plummeting commodity prices. The Houston-based company saw a significant decline in its revenue and earnings as depressed commodity prices created pressure on its price realizations during the year. Further, in the wake of a challenging outlook for the commodity markets,...