The U.S.-based energy giant ConocoPhillips saw its net income and revenue increase in the fourth quarter of 2018, according to its financial statement released on Thursday.
The company had a net income of $1.87 billion in the final quarter of last year -- an 18.3 percent increase compared to the same period of the previous year.
The world鈥檚 largest independent exploration and production company based on production and proved reserves had a $1.58 billion net income in the last quarter of 2017.
In the October-December period of 2018, the firm's revenue rose 18.5 percent from the same period of the previous year to reach $10.36 billion.
ConocoPhillips saw revenue of $8.74 billion in the fourth quarter of 2017, according to the statement.
Total revenue for the full year of 2018 was $38.73 billion -- an 18.9 percent increase from $32.58 billion for the full year of 2017.
Although ConocoPhillips had a net loss of $855 million in 2017, it posted a net income of $6.26 billion in 2018, the statement showed.
Capital expenditure and investments in the final quarter of last year were $1.62 billion, rising 6.6 percent from $1.52 billion for the same period the previous year.
For the entire 2018, the firm had a total capital expenditure and investments of $6.75 billion -- a 47 percent increase from $4.59 billion in 2017.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr