For the first time since the 2008 financial crisis, ConocoPhillips, the nation’s third-largest oil and gas producer, reported on Thursday that it had lost money — $39 million in the fourth quarter in contrast to a profit of $2.5 billion the year before. And Occidental Petroleum, another large producer in United States shale fields and the Middle East, said it lost $3.4 billion in the quarter, in contrast to a $1.6 billion gain in the same quarter in 2013.
ConocoPhillips and Occidental Post Losses
Posted on February 1, 2015
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