The Syrian Petroleum Company, U.S.-based ConocoPhillips (COP.N),and energy firm Novaterra signed a deal in Damascus on Tuesday to develop new gas fields and expand production at existing fields, according to a joint statement.
U.S. oil and gas producer ConocoPhillips is set to sign a contract with Syria's new government to revive gas production, the Financial Times reported on Monday, citing two people familiar with the matter.
ConocoPhillips (COP) is delivering robust FCF, with a current annualized yield near 7% and a strong commitment to shareholder returns. COP targets $7 billion in FCF improvement by 2029, driving FCF yields from high single-digits to double-digits at current oil prices. The company maintains a resilient balance sheet, minimal leverage, and a disciplined capital return policy, returning 45% of CFO...
ConocoPhillips offers compelling value at $114, trading at 11.6x forward P/E and yielding 2.9%, supported by robust fundamentals. COP's growth is underpinned by the Willow project in Alaska and an expanding LNG platform, including Port Arthur LNG nearing first production. Strong balance sheet with A- credit rating, and a shareholder-friendly capital return policy reinforce COP's investment appeal.
Any delays to increasing liquefied natural gas production capacity at ConocoPhillips' joint ventures with Qatar are likely to be months, not years, its Europe Gas head said.
Glenfarne's Alaska LNG said on Monday it had signed a long-term natural gas supply deal with ConocoPhillips and that it now had agreements for enough volumes to support a final investment decision for Phase One of its project and meet Alaska's in-state natural gas needs.
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