ConocoPhillips (NYSE:COP) is one of the 11 Cheap Clean Energy Stocks to Buy Right Now.
On September 3, 2025, ConocoPhillips revealed its plans to reduce its global workforce by 20% to 25%, potentially affecting up to 3,250 employees and contractors, as part of a broader restructuring aimed at boosting margins and reducing costs.
Furthermore, the move comes after the company’s $17 billion acquisition of Marathon Oil in 2024. This move also comes amid rising controllable production costs, which reached $13 per barrel in 2024, $2 above industry peers. The restructuring is expected to result in $1 billion in additional cost savings and will involve a new organizational structure and management team, which will be unveiled in mid-September.
ConocoPhillips is focused on exploration, production, transportation, and marketing of crude oil, natural gas, LNG, and liquids globally. It is one of the Best Clean Energy Stocks.
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