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Company Response

ConocoPhillips response & statement on repeal of transparency regulations under US Dodd-Frank Act section 1504

ConocoPhillips reaffirms that we endorse transparency in the extractive industries. We are a participating member of EITI... We note various other transparency initiatives have either been adopted or are under development in areas in which we operate... These initiatives include detailed mechanisms for payment transparency, which we believe can and should be accomplished in a manner that does not require companies to violate existing contractual and legal obligations and that (i) is fair to all participants in the extractive industries, (ii) does not place unreasonable administrative burdens and expenses on reporting companies (iii) does not place reporting companies at a strategic disadvantage as compared with non-reporting companies.

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