Cenovus buys Conoco's Canadian assets for C$17.7b
Purchase will double its reserves and output and make it the third largest oil-sands producer
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
CENOVUS Energy Inc will double its reserves and production by buying Canadian holdings from ConocoPhillips for C$17.7 billion (S$18.5 billion), the latest sale of energy assets in that country by international companies stung by falling oil prices.
The deal includes Conoco's 50 per cent interest in a joint venture with Cenovus in Canada's oil sands, the Calgary-based company said in a statement on Wednesday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
