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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.
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