ACES eats $234 million in Conoco profitsRetroactive taxes account for $95 million; company still earns $2.255 billion in Alaska on high prices and steady production Eric Lidji Petroleum News
A revised production tax enacted by Alaska lawmakers last year kept $234 million out of ConocoPhillips’ pockets in the final quarter of 2007, the company reported on Jan. 23.
But even with the hit, the major American oil company reported an annual income of $2.255 billion from exploration and produc....
[additional news subjects in this story]
Conoco first to report impact of ACES Alaska income down for the quarter Alaska oil and natural gas production down Oil prices jumped in fourth quarter
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