ConocoPhillips explores sale of Norway business and UK Teesside asset
COP•ConocoPhillips is evaluating a potential sale of its Norway business and UK Teesside asset after receiving an unsolicited offer. It did not identify the potential buyer or disclose financial details, and said it would retain the assets if the offer did not meet its value expectations.
1. Potential asset sale
ConocoPhillips is evaluating a potential sale of its Norway business and Teesside asset in the UK after receiving an unsolicited offer. The company did not disclose the buyer’s identity or financial details.
2. Portfolio review
ConocoPhillips said the evaluation aligns with its strategy of optimizing its portfolio. It said it would retain the assets if the offer did not meet its value expectations and had informed employees, partners and regulators of the review.
