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ConocoPhillips to spend $5.5B per year through 2020

ConocoPhillips has unveiled its operating plan for the next three years, which includes $5.5 billion in annual spending through 2020 pegged at an oil price of $50 per barrel. Additionally, the company intends to reduce its debt pile to $15 billion by 2019 and buy back $7.5 billion worth of shares through 2020.

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