real-time news and commentary for investors
Friday, Aug 16
ConocoPhillips sells Trinidad and Tobago assets for $600M
- ConocoPhillips (COP) says it sold Trinidad and Tobago natural gas assets to the country's National Gas Company for $600M.
- COP's holdings included a 39% interest in a gas processing and natural gas liquids fractionation facility; COP expects to recognize an after-tax gain of ~$290M for the sale.
- Including this deal, COP says it has sold $14.1B in non-strategic assets as part of its 2012-13 asset disposition program.