In the Q2, Conocophillips's corporate clients experienced a reduction by -2.07 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -7.47 %. During the corresponding time, Conocophillips recorded a revenue increase by 36.83 % year on year, sequentially revenue grew by 21.57 %. While revenue at the Conocophillips's corporate clients recorded rose by 26.69 % year on year, sequentially revenue grew by 21.75 %.
Customers of Conocophillips saw their costs of revenue decrease by -2.07 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -7.47 %, for the same period Conocophillips recorded revenue increase by 36.83 % year on year, sequentially revenue grew by 21.57 %.
Conocophillips's Comment on Sales, Marketing and Customers
We sell crude oil and natural gas from our producing operations under a variety
of contractual arrangements, some of which specify the delivery of a fixed and
determinable quantity. Our Commercial organization also enters into natural gas
sales contracts where the source of the natural gas used to fulfill the contract
can be the spot market or a combination of our reserves and the spot market. Worldwide,
we are contractually committed to deliver approximately 4 trillion cubic feet
of natural gas, including approximately 600 billion cubic feet related to the
noncontrolling interests of consolidated subsidiaries, and 200 million barrels
of crude oil in the future. These contracts have various expiration dates through
the year 2028. We expect to fulfill the majority of these delivery commitments
with proved developed reserves.
Conocophillips’s Comment on Sales, Marketing and Customers
We sell crude oil and natural gas from our producing operations under a variety
of contractual arrangements, some of which specify the delivery of a fixed and
determinable quantity. Our Commercial organization also enters into natural gas
sales contracts where the source of the natural gas used to fulfill the contract
can be the spot market or a combination of our reserves and the spot market. Worldwide,
we are contractually committed to deliver approximately 4 trillion cubic feet
of natural gas, including approximately 600 billion cubic feet related to the
noncontrolling interests of consolidated subsidiaries, and 200 million barrels
of crude oil in the future. These contracts have various expiration dates through
the year 2028. We expect to fulfill the majority of these delivery commitments
with proved developed reserves.
Sources:
Conocophillips’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Conocophillips’s corporate clients.
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