ConocoPhillips Evaluates Sale of Norway and UK Assets
ConocoPhillips is reviewing a potential sale of its Norway business and UK Teesside asset following an unsolicited offer. Analysts estimate the combined value at seven billion dollars. The company will retain the assets if expectations are not met.
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CONOCOPHILLIPS is exploring the sale of its Norway operations and the Teesside asset in the United Kingdom after receiving an unsolicited buyout offer on Thursday afternoon. The potential divestment comes as the United States oil producer evaluates portfolio optimization strategies. Capital One Securities analysts estimate the combined value of the assets at $7B, representing 4% of the enterprise value.
