Conoco 'drives the knife'

CONOCOPHILLIPS "continues to drive the knife further" on operational costs which help it beat Q2 earnings forecasts, Citigroup said in response to the US major's plan to further cut spending for 2015.

ConocoPhillips has lowered its capital and operating expenditure guidance for 2015 having made a Q2 loss of $US179 million ($245.57 million) despite beating its own production target.