ConocoPhillips doubles quarterly profit to $4 billion, lifts dividend 11%

· Oil & Gas · United States

ConocoPhillips more than doubled its third-quarter profit to $4 billion and raised its quarterly dividend by 11%, the Houston-based producer said Thursday. Higher crude prices offset production disruptions caused by the Iran war. The result places ConocoPhillips among a growing list of oil majors reporting large earnings gains in the quarter, as elevated benchmarks flow through to upstream cash flow. The dividend increase signals confidence that the company can keep returning cash to shareholders even with output affected by conflict-related outages.

Why it matters：Upstream earnings of this scale show how war-driven price spikes are converting into shareholder returns, a signal other producers' results will be measured against.

Key points

  • Profit more than doubled to $4 billion in the third quarter.
  • Quarterly dividend raised by 11%.
  • Crude prices offset Iran-war production disruptions.

Sources (original reporting)

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