1 Minute Read by Reuters Staff 30 JUNE (Reuters) – ConocoPhillips cut its spending projections for the year on Wednesday, citing higher savings from its acquisition of Permian basin-focused Concho Resources. The leading U.S. independent producer said it expected to save roughly $1 billion annually from the acquisition of Permian basin-focused Concho Resources for about $10 billion in January, compared to its previous expectation of $750 million. (Arathy S Nair in Bengaluru contributed reporting; Saumyadeb Chakrabarty edited the piece.) Continue reading
