ConocoPhillips (COP) said, at its Annual Meeting of Stockholders, that it reaffirmed its goal to consistently deliver strong, predictable returns to shareholders.
The company also outlined five ongoing strategic priorities to drive its long-term performance: Maintain a relentless focus on safety and execution; Offer a compelling dividend; Deliver 3 to 5 percent compound annual production growth, as well as growth in reserves, through drilling programs in legacy assets and sanctioned major projects globally; Generate 3 to 5 percent compound annual margin growth, over the next five years at flat prices by divesting lower-margin assets and shifting the company's production mix to higher-value products; and Focus on improving financial returns, through capital discipline, high-grading the asset portfolio, minimizing investment in North American natural gas and optimizing processes and practices.
Over the next five years, the company plans to execute a disciplined capital program of approximately $16 billion per year, supporting the company's organic reserve replacement target of more than 100 percent. The company expects to generate 3 to 5 percent compound annual production growth and margin growth from major development programs and projects already under way in unconventional plays in the U.S. Lower 48, Canadian oil sands, United Kingdom and Norwegian North Sea, Malaysia and Australia.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.