ConocoPhillips quarterly profit higher on asset sales

Thu Jan 30, 2014 7:19am EST

Jan 30 (Reuters) - ConocoPhillips, the largest U.S. oil company without refining operations, on Thursday said its fourth-quarter profit rose, helped by the sale of its Algerian business and other assets.

Profit in the quarter was $2.5 billion, or $2.00 per share, compared with $1.4 billion, or $1.16 per share, a year earlier.

Oil and gas output was 1.518 million barrels oil equivalent per day, down from 1.607 million boepd in the 2012 fourth quarter.

Earlier this month, Conoco said its fourth-quarter production from continuing operations would be lower than expected as severe weather in parts of the United States and the North Sea hampered operations.