ConocoPhillips has confirmed that it is in exclusive talks with chemicals giant Ineos about the sale of UK North Sea assets by the US supermajor.
ConocoPhillips said the talks excluded its Teesside oil termial and its commercial trading operations in London.
"ConocoPhillips can confirm that we are in exclusive negotiations with Ineos for our UK assets," a ConocoPhillips spokeswoman said.
