3/24/2010- ConocoPhillips (NYSE:COP) announced plans to increase shareholder value at its annual analyst meeting in New York, according to a Business Wire report.
The company provided details on how it intends to grow production per share and convert 10 billion barrels of oil equivalent of resources into reserves over the next 10 years in addition to announcing plans to halve its equity ownership in LUKOIL.
Chairman and CEO Jim Mulva said, "We are focused on creating and delivering value to our shareholders. We are taking decisive action to sell assets, reduce debt, build on our record of shareholder distributions, and improve returns while growing production share."
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