It is a dramatic gesture from America’s longest serving oil chief executive, who plans to retire when the break-up is complete.
Mulva argues that the world of refining has changed and it is time for ConocoPhillips to concentrate on oil and gas projects that are not as liable to the seasonal and macro-economic changes inherent in refining.
However, the shrink-to-grow move, which was met with enthusiasm by the stock markets and many analysts, is not without risk.
ConocoPhillips’
