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ConocoPhillips plans to spend less in 2015 amid steep crude fall
December 8, 2014 / 1:42 PM / 3 years ago

ConocoPhillips plans to spend less in 2015 amid steep crude fall

Dec 8 (Reuters) - ConocoPhillips set a capital budget of $13.5 billion for 2015, a 20 percent drop from its 2014 spending plans, amid a steep decline in global crude prices.

“The reduction in capital relative to 2014 primarily reflects lower spending on major projects, several of which are nearing completion, as well as the deferral of spending on North American unconventional plays,” the company said. (Reporting by Swetha Gopinath in Bengaluru; Editing by Don Sebastian)

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