Mar. 8--ConocoPhillips reported a nearly $32 billion loss in the fourth quarter of 2008, in sharp contrast to profits of $4.4 billion for the same quarter in 2007. And those losses could affect a local project of great importance.

A Bloomberg News report Tuesday quoted Montana Department of Environmental Quality specialist Jim Hughes of Billings as saying that ConocoPhillips has delayed for one or two years an expansion of its Billings refinery. The refinery managers want to replace the plant's crude and vacuum units to increase capacity from 61,000 barrels a day to as high as 79,000 barrels per day.

However, spokesman Bill Stephens in Houston said that decision hasn't been made yet.

"All I can tell you is we're about to have our annual analyst meeting on March 11, and we won't have specifics on projects until then," he said. In January, the company approved spending $11.7 billion this year for capital improvements, including projects in the Williston oil basin. Another $800,000 will be spent on oil sands in western Canada through ConocoPhillips' venture with EnCana Corp. of Canada. That is a total of $12.5 billion in capital spending this year.

In October, the Billings refinery started moving tons of dirt and piling it next to Interstate 90 in preparation for approval of the expansion. During a visit to Billings in November 2006, Chairman and Chief Executive Jim Mulva told The Gazette that the project would cost hundreds of millions of dollars and would be a bigger deal than the conversion for low-sulfur diesel four years ago. The upgrade would allow the refinery to handle more of the acidic, high-sulfur, heavier Canadian crude from the oil sands developments.

Meanwhile, ConocoPhillips is citing tough economic times as the reason as many as 1,300 employees, or 4 percent of its worldwide work force, will get pink slips.

The company is trying to get the layoffs finalized this month after a staffing review that began earlier this year. Any impact to the Billings refinery isn't known yet and may never be known.

"We're analyzing our business needs and available skills to make the best decisions we can for the future of our company," Stephens said. "The numbers may never be released due to competitive business reasons."

Stillwater Mining moves headquarters Top officers and the accountants for Stillwater Mining Co., have moved out of their Billings offices at TransTech Center back to the company's original headquarters in Columbus, 48 miles to the west.

The possibility of a move was announced Nov.