国际英语新闻：U.S. oil giant ConocoPhillips 3rd-quarter earnings more than double on higher oil prices

HOUSTON, Oct. 27 (Xinhua) -- ConocoPhillips, the third- largest oil company in the United States, said Wednesday its third- quarter earnings more than doubled on higher oil prices and better refining performance.

The company's net income shot to 3.06 billion U.S. dollars in the third quarter, from 1.47 billion in the same period last year, despite reduced production, the Houston-based company said in a statement.

The company said its production in the third quarter declined to 1.72 million barrels of oil equivalent per day from 1.79 million in the year-earlier period.

The increase in earnings is largely attributable to higher crude prices, which jumped 11.7 percent year-over-year to an average of 76.24 dollars per barrel.

ConocoPhillips' third-quarter revenue rose to 49.55 billion dollars from 41.27 billion dollars in the same period last year.

ConocoPhillips' increased third-quarter earnings also benefited from its sale of Lukoil shares.

The company plans to sell 10 billion dollars worth of assets over a two-year period.

ConocoPhillips is the first oil major in the U.S. to report third-quarter earnings. Exxon Mobil will announce its third- quarter earning Thursday and Chevron on Friday.