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ConocoPhillips shows positive earnings from oil,gas in Alaska

05 Feb 2016

One of Alaska's leading oil producers, ConocoPhillips has recorded healthy earnings from its investments in Alaska.

In 2015, the oil giant earned $482 million from oil and gas production in Alaska and is now looking to keep capital spending in the state at a relatively high level. This year, the state will remain as a hot spot for ConocoPhillips as the company is forecasted to invest close to $1 billion on Alaskan projects.

The Houston-based company also reported $1.1 billion in adjusted earnings from Asia Pacific and Middle East oil fields in 2015.

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