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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

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

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