ConocoPhillips negotiates to sell refining properties, exec says

05/25/2010 | Wall Street Journal, The

ConocoPhillips is in discussions with prospective buyers for some its refining properties as part of a strategy to concentrate on oil-and-gas exploration and production, company executive Clayton Reasor said. ConocoPhillips intends to reduce its global refining capacity from 2009 year-end levels of 2.7 million barrels to between 2 million and 2.2 million barrels by 2012, he added.

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