ConocoPhillips to sell pipelines

It has been reported oil giant ConocoPhillips is set to sell its interests in two of its pipeline companies for around $2 billion (£1.3bn). According to the Associated Press, the […]

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By Tom Gibson

It has been reported oil giant ConocoPhillips is set to sell its interests in two of its pipeline companies for around $2 billion (£1.3bn).

According to the Associated Press, the Houston company announced that a subsidiary of a Canadian pension plan will buy its 16.55% investment in Colonial Pipeline Co. and Colonial Ventures LLC and a subsidiary of Enbridge Inc. will buy its stake in the Seaway Crude Pipeline Company.