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ConocoPhillips posts profit vs year-ago loss on asset sale gain

May 2 ConocoPhillips reported a quarterly profit on Tuesday, compared with a year-earlier loss, helped by a gain on its sale of oil sands and western Canadian natural gas assets to Cenovus Energy Inc.

The company's net profit was $800 million, or 62 cents per share, in the first quarter ended March 31, compared with a net loss of $1.5 billion, or $1.18 per share, a year earlier.

ConocoPhillips' production, excluding Libya, rose 6 million barrels of oil equivalent per day (boepd) to 1,584 million boepd. (Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza)

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