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Monday, March 21, 2011

Conoco asset sales may reach $20 bln-Deutsche Bank, (NYSE: COP)

The total amount of assets U.S. oil company ConocoPhillips (COP.N) sells as part of its plan to shed less-desirable properties may rise to $20 billion, or double the amount originally projected, Deutsche Bank said. "Even if Libya and Algeria are now hard to sell, there are still relatively low equity ownership, non-operated asset stakes such as Kashagan (in Kazakhstan), Azerbaijan and Western Canada that can be sold above and beyond current disposal plans," Deutsche Bank said in a research note released to media on Monday. The additional sales will take place by year-end 2012, the analysts said.

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