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The profit of ConocoPhillips raised with 54%

The profits of the oil company ConocoPhillips jumped by 54 percent annually in the fourth quarter of 2010. Much of this result is due to the rise in oil prices and profitability of operations, refining petroleum products. The net profit of the oil company ConocoPhillips in the last quarter of 2010 was 2 billion dollars or 1.39 dollars per share. Over the same period last year profit was 1.3 billion dollars, or 86 cents a share. Company revenue rose 22 percent to 53.2 billion dollars. Without accounting for some one-off effects of ConocoPhillips profit amounted to 1.9 billion dollars or 1.32 dollars per share. The expectations of analysts was for earnings of 1.29 billion dollars on revenue of 47.3 billion dollars. The company has limited oil production by 5 percent to 1.73 billion barrels a day. This is offset by increases in oil prices to average 78.76 dollars a barrel during the quarter. Much credit for the best result, improving the profitability in manufacturing activity, after the loss of 215 million dollars for the fourth quarter of 2009, the last quarter of 2010 has achieved a profit of 207 million dollars.