ConocoPhillips Board Approves Plan To Split Into Two Companies

Over the past several years ConocoPhillips has invested billions of dollars to help it grow into the third largest oil company in America, behind Exxon and Chevron. They bought Burlington Resources for $35 billion, and invested billions more in the Rockies Express pipeline, and Russia’s Lukoil. In a move that continues their evolution the oil giant has now been given permission by its board of directors to progress with the plan to split it into two companies; one which produces oil, and the other which refines it. The split was first announced…

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