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Stock Market & Financial Investment News

News Breaks
November 26, 2012
08:01 EDTCOPConocoPhillips to sell stake in North Caspian Sea production sharing agreement
ConocoPhillips announced that it has notified government authorities in Kazakhstan and its co-venturers of the company’s intent to sell its 8.4% interest in the North Caspian Sea Production Sharing Agreement to ONGC Videsh Limited. Subject to various government approvals, Kazakhstan state preemption rights and co-venturers’ preemption rights, ONGC Videsh Limited, the international arm of Oil and Natural Gas Corporation Limited, India, would acquire ConocoPhillips’ interest in Kashagan, which is located in the Kazakh sector of the Caspian Sea. The transaction is expected to close in the first half of 2013. Expected proceeds are approximately $5B, which represents the purchase price plus expected working capital and customary adjustments at closing.
News For COP From The Last 14 Days
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October 1, 2014
07:38 EDTCOPRailcar, oil groups push back over crude-train deadlines, WSJ says
The Association of American Railroads, which represents oil and freight haulers, and the American Petroleum Institute, the lobbying group for oil companies, told the U.S. Transportation Department that they need more than two years to build safer railcars to haul crude, pushing back against some proposed federal rules, reported The Wall Street Journal. Rail car makers include Trinity Industries (TRN), FreightCar America (RAIL), American Railcar Industries (ARII) and Greenbrier (GBX). Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link

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