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ConocoPhillips stock price
ConocoPhillips latest news:
Andeavor acquires Kenai LNG facility in Alaska from ConocoPhillips
Independent U.S. refiner Andeavor (ANDV) said on Friday it had acquired a liquefied natural gas facility in Kenai, Alaska, from ConocoPhillips (COP). "This acquisition further strengthens our integrated value chain by optimizing our operations in Kenai and providing low-cost fuel for our refinery," the company said. The company did not disclose financial details of the transaction.
New York sues fossil fuel majors, plans divestment from pension funds
New York City on Wednesday filed a multibillion dollar lawsuit against five top fossil fuel companies, citing their "contributions to global warming," as it unveiled a plan to cut fossil fuel investments from its $189 billion public pension funds over the next five years. The companies are BP Plc (BP), Chevron Corp (CVX), ConocoPhillips (COP), Exxon Mobil Corp (XOM) and Royal Dutch Shell Plc.
ConocPhillips to receive $337 million from Ecuador in settlement
ConocoPhillips said Monday it will receive $337 million in a settlement with Ecuador on terms of payment to its unit Burlington. The settlement was reached under a February 2017 International Centre for Settlement of Investment Disputes (ICSID) arbitration award, the oil company said in a statement. Ecuador paid the company $75 million on Dec. 1 and will pay the balance by April of 2018. The settlement includes an offset for the decision awarding Ecuador $42 million on its counterclaims, of which Burlington is entitled to an additional $24 million through a third-party contribution, said the company. The ISCID Tribunal ruled in 2012 that Ecuador had unlawfully expropriated the company's oil investments. Shares were slightly lower premarket, but have gained 3% in 2017, while the S&P 500 has gained 18%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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