Conoco Posts Another Record Quarter

26 January 2001

Conoco said that higher prices, increased production and strong refining margins produced record-setting results for the fourth consecutive quarter. "Great strides were made in our emerging, high-technology carbon fibers and natural gas refining businesses by bringing them closer to commercial realization," said Conoco Chairman and CEO Archie W. Dunham. Business highlights for the quarter included construction on the 8-million-pound carbon fibers plant in Ponca City, Okla., with mechanical completion expected in late 2001. Plans are under way to scale-up future larger plant design to the commercial production levels required for anticipated customer demand. In December, the company opened its first international carbon fibers sales office in Tokyo to assist customers in their evaluation of the new carbon fiber.

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