The company reported that revenues were $54.9 billion for the first quarter of 2008, compared to $41.3 billion for the first quarter of 2007.
Exploration and production net income was $2.88 billion for the first quarter of 2008, up from $2.33 billion in the first quarter of 2007.
The midstream segment had first quarter net income of $137 million, down from $85 million in the first quarter of 2007. Refining and marketing net income was $520 million in the first quarter, down from $1.14 billion in the first quarter of 2007.
Jim Mulva, chairman and CEO of ConocoPhillips, said: Although we delivered solid financial results during the first quarter, unplanned downtime negatively impacted our performance. Our upstream business produced 2.25 million barrels of oil equivalent per day, including our estimated share of Lukoil’s production, and we benefited from higher commodity prices.
