By Sheila McNulty in Houston and Bernard Simon in Toronto
Published: April 13 2010 00:29 | Last updated: April 13 2010 00:29
ConocoPhillips, the third biggest US oil company, said on Monday it had agreed to sell its 9.03 per cent stake in Syncrude, the oil sands project in Canada, to Sinopec International Petroleum Exploration and Production for $4.65bn.
Conoco has been marketing the stake in one of the world’s biggest oil sands mining and synthetic crude processing sites since it unveiled in October plans to sell $10bn in assets over the next two years to pay down debt.
Source: http://www.ft.com/cms/s/b9a1cb08-467c-11df-9713-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fb9a1cb08-467c-11df-9713-00144feab49a.html%3Freferrer_id%3Dyahoofinance%26ft_ref%3Dyahoo1%26segid%3D03058&ft_ref=yahoo1&segid=03058&referrer_id=yahoofinance&_i_referer=http%3A%2F%2Fwww.energydigger.com%2F
Published: April 13 2010 00:29 | Last updated: April 13 2010 00:29
ConocoPhillips, the third biggest US oil company, said on Monday it had agreed to sell its 9.03 per cent stake in Syncrude, the oil sands project in Canada, to Sinopec International Petroleum Exploration and Production for $4.65bn.
Conoco has been marketing the stake in one of the world’s biggest oil sands mining and synthetic crude processing sites since it unveiled in October plans to sell $10bn in assets over the next two years to pay down debt.
Source: http://www.ft.com/cms/s/b9a1cb08-467c-11df-9713-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fb9a1cb08-467c-11df-9713-00144feab49a.html%3Freferrer_id%3Dyahoofinance%26ft_ref%3Dyahoo1%26segid%3D03058&ft_ref=yahoo1&segid=03058&referrer_id=yahoofinance&_i_referer=http%3A%2F%2Fwww.energydigger.com%2F
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