The American oil and gas company, ConocoPhillips, increased its net profit 1.5 times in the first quarter compared to the same period last year to $888 million, the finversia.ru project writes with reference to the company’s accounts. Quarterly revenue increased by 15.3% and amounted to 8 billion 961 million dollars. The level of debt for the quarter fell to 17 billion 46 million dollars from 26 billion 435 million dollars a year earlier. ConocoPhillips reduced hydrocarbon production by 20% to 1 million 269 thousand barrels of oil equivalent per day. The company raised the forecast for hydrocarbon production for the current year.
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