Monday, April 7, 2014

Recent Developments in ConocoPhillips



ConocoPhillips is a company that is based in Houston, TX, and was formed in 2002. The company has been in business for the last 12 years and has made a considerable development in terms of financial and infrastructural growth. The main products and services of the company include exploration, transportation, and marketing of the crude oil, natural gas, bitumen, liquefied natural gas, and the natural gas liquids. There are six segments through which the company is operating worldwide.

Recently, the incident involving the oil theft in Nigeria has plagued COP reputation, as the company has not been able to grab much of its share from the country as it had been getting before. On the other hand, the company has outshone its other bigger competing companies in terms of taking the highest share in the quarterly profits. This shows whether the company’s reputation is affected by such incidents, still the company looks to amaze its competitors through increased sales worldwide.
Such developments have made a positive impact on the ConocoPhillips stock. Therefore, the stock price has also been increasing since the last few months. The current COP stock price is $70.89 with an average change of 0.82%.

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