(Reuters) -ConocoPhillips reported a jump in third-quarter profit on Thursday, extending a string of bumper earnings from global oil producers benefiting from higher energy prices and robust demand, and sweetened its share repurchase plan to $45 billion.
The company’s larger U.S. rivals Exxon Mobil (NYSE:) and Chevron (NYSE:) have also reported strong results, rekindling calls for energy companies to pay more taxes.
Total average realized price was $83.07 per barrel of oil equivalent (boe), ConocoPhillips (NYSE:) said, 46% higher compared to a year earlier.
Production was 1.75 million barrels of oil equivalent per day (boed), an increase of 210,000 boed from the same period a year ago.
ConocoPhillips also raised its quarterly dividend by 11% and approved a $20 billion increase in the existing share repurchase program.
The Houston, Texas-based company’s net income rose to $4.5 billion, or $3.55 per share, for the three months ended Sept. 30, from $2.4 billion, or $1.78 per share, a year earlier.
Story Credit: investing.com