The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:** Chinese state oil firm CNPC will purchase a stake in Kazakhstan's giant Kashagan oil project, through back-to-back deals with Kazmunaigaz through which ConocoPhillips will exit, the Kazakh state oil firm said on Monday.Lyazzat Kiinov, chief executive of Kazmunaigaz, confirmed the deal structure on the fringes of a summit of gas exporting nations in Moscow, telling Reuters that CNPC would pay more than $5 billion for the stake.
ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis. Shares of COP traded higher by 1.21% or $0.73/share to $61.23. In the past year, the shares have traded as low as $52.84 and as high as $64.77. On average, 6397200 shares of COP exchange hands on a given day and today's volume is recorded at 4452846.
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