ConocoPhillips plans 3-year average capital budget of $5.5 billion

ConocoPhillips plans an average annual capital budget of $5.5 billion during 2018-20 based on a flat real West Texas Intermediate price of $50/bbl. The Houston independent also intends to reduce its debt to $15 billion in 2019. Source: News


US House panel hears more support for offshore than onshore energy policy moves

A US House Natural Resources Committee subcommittee heard more support for offshore than onshore policy reform proposals at a Nov. 7 hearing as two of the four witnesses differed on whether to transfer federal onshore oil and gas responsibilities to agencies in producing states. Source: News


MARKET WATCH: Crude prices retreat after rally

Crude oil prices on the New York and London markets dropped on Nov. 7 and continued to retreat on Nov. 8 following a recent surge to 2-year highs. Source: News