ConocoPhillips trims capital budget
ConocoPhillips trimmed its 2010 capital budget and will sell about $10 billion of assets over the next two years to strengthen its balance sheet, continuing the belt-tightening for one of the hardest hit of the oil majors.
ConocoPhillips today approved a 2010 capital program of $11.2 billion, representing a 10 percent decrease from estimated 2009 expenditures.