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Conoco Earnings Continue To Grow

  • Tuesday, 25th July 2000
  • Reading time: less than a minute

Conoco said higher crude oil and natural gas prices and a six-percent jump in production combined with stronger demand for refined products to produce record-setting results for the second consecutive quarter. Net income before special items totaled $460 million, 18 percent above the previous record set in the first quarter and 304 percent higher than second quarter 1999. Customer interest in Conoco’s new petroleum-based carbon fiber product is high, as new application opportunities for theproduct continue to grow. The revolutionary, high-value-in-use product has unique electrical, thermal and physical properties to enable manufactured goods such as computer and cell phone batteries, fiber-reinforced plastic, concrete and other materials to be stronger, lighter and more durable. Construction of the manufacturing facility is underway in Ponca City, Oklahoma.

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