Conoco workers getting bonuses thanks to high gas prices


Tuesday, February 20th 2001, 12:00 am
By: News On 6


(Ponca City-AP) -- Conoco officials say about 2,000 employees in Ponca City are getting big bonuses, thanks in some part to higher gasoline prices.

Officials say the average bonuses for Conoco workers across the world in 1999 was 8.1 percent. In 2000, it was 11.4 percent.

This year the bonuses should range from 12 to 13 percent.

Conoco had record results for the fourth quarter as a result of higher prices, increased production and strong refining margins.

Spokesman Kenneth Ray says the bonuses aren't based solely on economics. He says employees also are rated on their performance.

Rays says the company started the program in 1996 and have since seen improvements throughout the company.