ConocoPhillips quarterly profit up on asset sale

ConocoPhillips, the largest US independent oil company, reported on Thursday a higher third-quarter profit as results were lifted by the sale of its Nigerian business, reports Reuters.

Profit was $2.7 billion, or $2.17 per share, compared with $2.5 billion, or $2.00 per share in the 2013 third quarter.

ConocoPhillips had third-quarter oil and gas production from continuing operations, excluding Libya, of 1.473 million barrels oil equivalent per day (boed), up 25,000 boed from a year ago.