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ConocoPhillips explores sale of Norway business and Teesside asset
Original: ConocoPhillips explores sale of Norway business and UK Teesside asset
ConocoPhillips is exploring the sale of its Norway business and its Teesside asset in the UK, according to Reuters. The move would mark a further reshaping of the US oil major's international portfolio, which has been under investor scrutiny as the company prioritises returns and weighs which legacy international operations still fit its strategy. No buyers or price terms have been announced, and it remains unclear whether a sale will proceed.
Why now: A major US oil producer potentially divesting significant European North Sea operations signals continued restructuring of its international portfolio, drawing market and industry attention.
ConocoPhillipsNorwayTeessideUnited KingdomReuters
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