Liam Denning, Columnist

Conoco's Divide Has Conquered

Total market value hasn't fallen much since the split.

February 4, 2016 at 3:42 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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Schadenfreude is the bitter topping that makes humble pie almost tolerable. A little was served up on Thursday when ConocoPhillips reported its 2015 results and slashed its dividend by two-thirds.

But who was really eating it?