ALASKA'S NEWSPAPER

| Updated: 12:01 AM

Conoco Phillips net income in Alaska up through 3rd quarter

JUNEAU -- Conoco Phillips has reported $1.5 billion in net income through the third quarter from its exploration and production activities in Alaska.

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That compares to the roughly $1.3 billion that the company reported for the first three quarters of 2010. Conoco Phillips reported $1.7 billion in net income related to Alaska activities for all of 2010.

Net income from Alaska totaled $501 million for the most recent July-September quarter.

On Wednesday, the company reported total earnings of $2.62 billion for the third quarter. That was down about 14 percent from the same period a year earlier due to unexpected production losses in China and Libya. Revenue increased 33 percent to $62.78 billion.

Conoco Phillips said production for the quarter in Alaska was down from a year earlier. It cited unplanned downtime.

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