Lower prices drag Phillips’ profits down
Allen Baker PNA Contributing Writer
With a drop of nearly $5 in the price of each barrel of oil sold, profits at Phillips Petroleum Co. slid to $364 million in the third quarter. That's down 15 percent from the $426 million earned a year earlier. Operating earnings before special items were $378 million in the third quarter, compared....
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Debt-to-capital ratio improved
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