The company completed the acquisition of a 30% equity interest in the Port Arthur LNG facility and a 25% interest in the North Field South LNG project, expanding its global LNG strategy.

ConocoPhillips acquired the remaining 50% working interest in Surmont for $2.7 billion, increasing its ownership and control of this asset.

The company achieved first production ahead of schedule at several subsea projects in Norway and China, as well as the startup of the second phase of Montney's central processing facility in Canada.

Total production increased by 5% year-over-year to 1,826 MBOED, with the Lower 48 segment achieving record production.

The company accelerated its 2030 GHG emissions intensity reduction target to 50-60% from 2016 levels, demonstrating a commitment to sustainability.

The company emphasized its focus on capital discipline, controlling costs, and safely delivering production, indicating a commitment to efficient operations.

The company acknowledges that its operating results and asset values are exposed to volatile commodity prices, which are influenced by factors beyond its control.

The company recognizes that its ability to execute on its energy transition plans is subject to various risks, including government policies, markets, and technology development.

The company acknowledges the increasing cybersecurity threats to its technologies, systems, and networks, which could disrupt operations.

The company acknowledges that they compete with private, public and state-owned companies in all facets of the exploration and production business.

The company states that they compete by locating and producing oil and gas in a cost-effective manner, and by using technology.

The company states that they are one of the world's leading E&P companies based on both production and reserves, with a globally diversified asset portfolio.

The company emphasizes its commitment to controlling costs without compromising safety or environmental stewardship, which is critical to maintaining a competitive position.

The company is focused on optimizing asset performance to lower costs and reduce GHG intensity.

The company emphasizes its commitment to safe and reliable operations, indicating a focus on operational excellence.

The company established a multi-disciplinary Low-Carbon Technologies organization to support its net-zero ambition and identify technology solutions.

The company continues to implement emissions reduction projects, including operational efficiency measures and methane and flaring reductions.

The company is evaluating carbon dioxide storage sites and progressing land acquisition efforts for potential carbon sequestration.

The company returned $11 billion to shareholders in 2023, including $5.6 billion through ordinary dividends and VROC and $5.4 billion through share repurchases.

The company continues to utilize its three-tier capital return program, consisting of ordinary dividends, share repurchases, and a variable return of cash (VROC).

The company has repurchased $28.8 billion of shares since the inception of the share repurchase program, demonstrating a commitment to returning capital to shareholders.

The company accelerated its GHG emissions intensity reduction target to 50-60% by 2030, demonstrating a commitment to environmental sustainability.

The company emphasizes reducing human error by emphasizing interaction among people, equipment, and work processes, indicating a commitment to safety.

The company is committed to fostering an inclusive culture that values diversity and supports all employees in unlocking their full potential.

The company acknowledges the cyclical and volatile nature of commodity prices, which are influenced by factors beyond its control.

The company notes that geopolitical tensions, conflicts, and global health crises can cause unexpected shocks to supply and demand, impacting commodity prices.

The company emphasizes the need for a resilient business strategy that can thrive in lower price environments while retaining upside during periods of higher prices.