Petroleum giant ConocoPhillips reported $451 million in net income in the fourth quarter of 2021, with an estimated $420 million in taxes and royalties, according to a company spokesperson.
In a news release, the company reported that the fourth quarter wrapped up a 2021 calendar year that included an estimated amount of $1.4 billion of incurred taxes and royalties, with about $1.1 billion of that going to the state of Alaska and around $300 million to the federal government.
The company also reported that it invested $284 million in the state during the fourth quarter, totaling $982 million spent throughout 2021, which accounts for 18% of ConocoPhillips’ global capital expenditures and investments.Isaacson added that the start of oil production at the Greater Mooses Tooth No. 2 field in mid-December — one of ConocoPhillips’ bigger developments in recent years — helped boost company profits and investments.
“That project, like all our projects, represented significant investment and hundreds of direct jobs,” Isaacson said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
T-Mobile reports its 'strongest year ever' says the CEO of America's 5G leaderT-Mobile announced another industry-leading fourth quarter as it added 844,000 net new postpaid phone customers during the quarter and 2.92 million for 2021.
Read more »
ING Groep NV 4Q Net Pft EUR945MBy Sabela Ojea ING Groep NV reported Thursday a rise in net profit for the fourth quarter of 2021, which came in below market expectations, and declared a...
Read more »
Mark Zuckerberg’s bet on the metaverse is off to an expensive start | EngadgetMeta lost just over $10 billion on its Reality Labs division in 2021, according to its fourth-quarter earnings report..
Read more »
Amazon Smashes Wall Street’s Q4 Earnings Estimates, Profit Gain Driven by Stake in RivianAmazon significantly beat fourth-quarter 2021 earnings estimates but missed on revenue, reporting Thursday a profit gain of almost $12 billion thanks to its investment in electric car company Rivia…
Read more »
Microstrategy lost $146M to Bitcoin impairment charges in Q4 2021The impairment losses of $146.6 million were the third-highest for the company where it accounted for 25% of its BTC purchase in the same quarter.
Read more »