Phillips profits drop with energy prices; production matches 2000 quarterHigher output in Alaska and Norway brought liquids production up 3 percent in fourth quarter; but lowered gas output in other areas reduced the total flow By Allen Baker PNA Contributing Writer
Phillips Petroleum Co. reported a 78 percent drop in fourth quarter profits as lower energy prices and slimmer refinery margins took a toll.
The company, based in Bartlesville, Okla., earned $162 million in the period, a decline of 88 percent from the $744 million in profits a year ago. Special ite....
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Production remains flat
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