ConocoPhillips (COP) expects to complete the spinoff of its refining arm in the second quarter of 2012. Under the deal, stockholders will receive one share in the new refining company for every two ConocoPhillips shares they presently own.
Sinopec has more than doubled China's presence in Alberta's oilsands by paying USD 4.65 billion for ConocoPhillips' 9% stake in Syncrude Canada Ltd. Houston-based Conoco confirmed the sale after details leaked out of Hong Kong early on 12 April, sending the share prices of Canadian oilsands producers higher.
Abu Dhabi National Oil Co. and ConocoPhillips are developing a USD 10 billion sour gas scheme.
KazMunaiGas has signed a memorandum of understanding with ConocoPhillips and Mubadala Development Co. for joint exploration and production of the N Block in the Caspian Sea.
BP PLC and ConocoPhillips will join resources to build a 4bcfd natural gas pipeline extending from Alaska's North Slope to markets in Canada and the US.
The Bechtel Group Inc.'s oil, gas and chemicals global unit has received permission from Angola LNG Ltd to proceed with the construction of a 5.2 million-metric-tonne- per-year LNG train, along with storage and loading facilities for the natural gas, liquefied petroleum gas and condensate.