(Bloomberg) — ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as one of America’s largest independent oil explorers looks to make a bold bet on shale during an historic industry downturn.The companies may announce a deal in the next few weeks, said the people, who asked […]

SunTrust Robinson Humphrey analysts initiated coverage of the three major U.S.-based oil giants but suggested only two should be bought by investors.The Analyst: Welles Fitzpatrick initiated coverage of the following three stocks: * Chevron Corporation (NYSE: CVX) at Buy with a $120 price target. * ConocoPhillips (NYSE: COP) at Buy with a $51 price target. […]

Venezuela has agreed to pay a $2 billion settlement to US oil giant ConocoPhillips, to stop the seizure of the South American nation’s assets, the American firm announced Monday. PDVSA, the state oil company once the crown jewel of Venezuela’s now imploding economy, will make initial payments of $500 million over the next 90 days, […]

U.S. oil producer ConocoPhillips (COP.N) is far from collecting the full value of a $2 billion arbitration award against Venezuelan state oil company PDVSA [PDVSA.UL], Conoco’s chief executive said on Tuesday. Conoco has won court orders allowing the company to begin seizing PDVSA assets in efforts to collect on an award by the International Chamber […]

Venezuela on Thursday strongly rejected the takeover of its Caribbean oil stocks by ConocoPhillips, after the US company enforced a $2 billion international arbitration award last month. A ConocoPhillips source said the company was enforcing the award at four locations in the Caribbean, without specifying the facilities affected. Press reports said the affected assets are […]

ConocoPhillips (COP.N), the world’s largest independent oil and gas exploration and production company, posted a bigger-than-expected first-quarter profit on Thursday, helped by rising crude prices (CLc1) and cost cuts. Results at Conoco, like many of its peers, have steadily improved in recent quarters alongside commodity prices and as better technology makes operations more efficient. Conoco’s […]