ConocoPhillips reports increase in Q2 output

ConocoPhillips, the third-largest US oil company, said second-quarter production rose from a year earlier as new projects came online.

Output of oil and natural gas climbed to the equivalent of 1.86 million barrels of crude a day, Houston-based ConocoPhillips said Tuesday in a statement on Business Wire. That compares with production of 1.75 million barrels in the second quarter of 2008.

Projects in countries including Russia, Vietnam and China helped boost production to 1.93 million barrels of oil equivalent a day in the first quarter from 1.87 million in the fourth quarter of 2008, ConocoPhillips said on April 23. The production numbers exclude the company’s stake in Russia’s OAO Lukoil.

In May, ConocoPhillips President John Carrig said the company expects to do a “little” better than meeting its 2009 production forecast of 1.8 million barrels a day. Daily output was 1.79 million barrels in 2008.

Exxon Mobil Corp. and Chevron Corp. are the biggest US oil companies.

thanhnien, bloomberg

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