Gulf Oil and Gas accountACCOUNT

ConocoPhillips Sells Interest in NaryanMarNefteGaz

Source: www.gulfoilandgas.com 8/22/2012, Location: Asia

ConocoPhillips announced that, as part of its ongoing strategy to reposition its asset base, it has closed a transaction with LUKOIL for the sale of ConocoPhillips’ indirect 30 percent interest in NaryanMarNefteGaz (NMNG) and certain related assets.

Financial terms of the transaction were not disclosed. ConocoPhillips said it expects to recognize an after-tax financial gain of approximately $400 million for the sale. "The sale of this non-core quality asset is an important component of our divestiture program for 2012,” said Don Wallette, executive vice president, Commercial, Business Development, and Corporate Planning. “We are pleased that LUKOIL, the co-owner of NMNG, recognizes the value of this asset."

The sale of NMNG is just one part of ConocoPhillips’ plan to increase value for shareholders through disciplined capital investment, improved returns on capital and growth in shareholder distributions.

Mergers and Acquisitions News in Russia >>

Netherlands Antilles >>  2/15/2019 - Shell has agreed to acquire 100% of sonnen, a leader in smart energy storage systems and innovative energy services for households. This follows an in...
United Kingdom >>  2/15/2019 - Rowan Companies plc (RDC) has received clearance from the United Kingdom's Competition and Markets Authority for its pending combination with Ensco pl...

United States >>  2/6/2019 - Air Liquide announces that Airgas has signed a definitive agreement to acquire TA Corporate Holdings, Inc. (“Tech Air”), a large independent distribut...
Russia >>  2/5/2019 - Tenaris S.A. will form a joint venture with PAO Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russ...

Norway >>  2/1/2019 - Equinor has completed the EUR 400 million acquisition of Danske Commodities (DC) announced in July 2018, after having received all required regulatory...
United States >>  2/1/2019 - Emerson (EMR) has completed the purchase of Intelligent Platforms from General Electric (NYSE:GE). The addition of Intelligent Platforms programmable ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.