ConocoPhillips announces plans to reduce workforce by up to 25%, stock prices drop.
ConocoPhillips, a significant player in the oil and gas industry, announced plans to reduce its workforce by 20% to 25%. This decision is part of a larger restructuring strategy outlined by CEO Ryan Lance in a video message earlier this week, communicated to Reuters. In response, the company’s stock dipped by 4.4%, reaching $94.68. “These […]
ConocoPhillips sues Biden administration over Alaska drilling restrictions
American Petroleum Institute CEO Mike Sommers talks about the nation’s energy independence and the lawsuit against President Biden’s EV mandate. Alaska’s largest oil companies have filed a lawsuit against the Department of the Interior, asking a judge to throw out the new rules. Imposed by the Biden Administration They claim it will “disrupt and thwart […]
ConocoPhillips Buys Marathon Oil For $17.1B As Energy Prices Rise
A view of a Marathon gas station in Baltimore, Maryland, on May 29, 2024. US energy giant ConocoPhillips announced on May 29 that it would acquire fellow oil company Marathon Oil in an all-stock deal for $22.5 billion, with $5.4 billion in debt, a major expansion despite pressure to move away from fossil fuels. (Photo: […]