US independent ConocoPhillips is planning to kick off a multi-billion-dollar divestment programme next year as part of its strategy going forward in a “volatile price environment”.
ConocoPhillips said on Thursday that it plans to put up for sale assets, primarily from its North American natural gas portfolio, worth between $5 billion and $8 billion.
These actions will allow us to achieve our priorities at Brent prices of about $50 per barrel
Ryan Lance
Next year, the company will also further reduce capital expenditures and costs compared with 2016, while aiming to deliver a “modest production growth”, it said.
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