Conoco budgets $1B capex for 2008
Maintains figure still doesn’t account for ACES increases; capital and exploration spending in Alaska in 2007 was $622 million
After flirting with the figure late in 2007, ConocoPhillips once again signaled plans to spend more than $1 billion on capital projects and exploration in Alaska this year, but insisted the recent production tax increases will keep actual spending below the budget.
The $1 billion figure comes from....
[additional news subjects in this story]
Still expect less to be spent
Budgets rarely match actual spending
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