Phillips earnings nearly double

Monday, April 30th 2001, 12:00 am
By: News On 6

(Bartlesville) -- Phillips Petroleum is reporting Monday that its first-quarter 2001 earnings nearly doubled this year.

The Bartlesville, Oklahoma-based company says higher natural gas prices and increases in production of crude oil helped generate net income of 490 million dollars. That's up from income of 250 million during the first quarter last year.

Phillips Chief Executive Officer Jim Mulva says the company will continue expanding its worldwide exploration and production.