From OilPrice:
ConocoPhillips is an integrated energy company with assets of
approximately $75 billion, and employs 56,000 people across 49
countries. They have recently announced plans to sell assets in Nigeria,
Libya and three other countries up to the value of $17 billion. It is
thought that the funds will be used as part of a plan to boost
shareholder returns with share buybacks and higher dividends.
Phil Weiss, an oil analyst from Argus, was at a meeting with Conoco’s
chief financial officer and head of investor relations, and confirmed
that "Selective country exits are possible. Candidates would be Nigeria,
Vietnam, Libya, Algeria and Kazakhstan."...MORE
