Conoco

(COC.A)

posted third-quarter earnings that beat analysts' expectations, amid soaring oil and natural gas prices, record refinery output and strong margins for refined products.

The oil company earned $523 million, or 83 cents a share, excluding special items, up from $261 million, or 41 cents a share, in the year-ago period. A

First Call/Thomson Financial

survey of 19 analysts produced a consensus estimate of 76 cents a share.

Revenue rose 43% to $10.7 billion from $7.5 billion last year.