Tomahawk, WI 05/15/2014 (Basicsmedia) – Due to the on going tense situation in Ukraine, the U.S State Department and the company officials has advised the CEO of ConocoPhillips (NYSE:COP) not to attend a conference in St.Petersburg, Russia. This is a direct effect of sanctions imposed by the U.S and its allies on Russia to bring about change in the Russian President’s policy towards Ukraine.

Norway Permits Maersk Product

The Petroleum Safety Authority of Norway has permitted ConocoPhillips (NYSE:COP) for using Maersk product namely Maersk Innovator to drill two oil wells discovered in Ekofisk that lies in southern region of Norway.  Drilling will be commenced in June 2014 and is expected to take about a months’ time for completion.

Making the Best of Learning Curve

ConocoPhillips (NYSE:COP) has developed its unique knowledge base of exploring oil wells from the experience it has in Texas’ Eagle Ford Rocks. It expects to apply this know-how and unconventional methods to Shale Formations in North America such as Canada, Colorado and as far as Poland. The knowledge gained in these processes is helping the company to increase productions coupled with high efficiency and cost reductions.

Nod to Re-Explore Alaska

ConocoPhillips (NYSE:COP) has been given permission to by the U.S Energy Department to renew its license to extract liquefied natural gas (LNG) in Alaska. That would mean the company can now export LNG from Kenai, Alaska to various countries it has been doing business with. ConocoPhillips is estimated to produce 40 billion cubic feet of LNG over the next couple of years.

All is Well if Employees are Well

The Alaska’s Voluntary Protection Program (VPP) has recognized ConocoPhillips (NYSE:COP) for its best practices in safety and health programs put in place for its employees. This recognition is one factor that enabled the company renew its permit to operate in Alaska’s wells. VPP has a say in Alaska’s Labor Department through a series of labor safety and health programs it runs.

ConocoPhillips Bonds with Universities

As part of its association with the Oklahoma State University, ConocoPhillips has supported building of Spears School of Business in the University with $1 million. This gesture has been kindly rewarded by naming the building’s social and collaborative area a ConocoPhillips Student Lounge.  In a similar way, the ConocoPhillips has helped develop Student Recruitment and Support Center in the Edward E. Whitacre Jr. College of Engineering with a $1 million fund. Also, Texas A &M University has announced that ConocoPhillips is providing $6 million in funds to develop Engineering Education Complex in its campus. ConocoPhillips (NYSE:COP)’s contributions look to have no bounds to its commitment to support churning graduates with excellent skills to address the future markets.

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