Prices boost 1Q profits
Despite falling outout, higher taxes, ConocoPhillips, BP post record earnings
Using record oil prices to offset production declines and tax increases, ConocoPhillips posted $603 million in net income from its Alaska operations in the first quarter of the year, a nearly 19 percent increase over first quarter earnings from 2007.
Companywide, the Houston-based mega major earned....
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Oil prices offset production declines
Natural gas price rises slightly
Exploration dollars drop
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