Oil and gas company ConocoPhillips has sold its share in a gas factory in Darwin, Australia. Collaboration partner Santos takes over that interest and the interests of the Americans in some North Australian gas fields for 1.4 billion dollars.
ConocoPhillips has for a long time been focusing more on its American production of shale oil and gas. The company does retain an interest in another Australian plant for LNG (liquefied natural gas).
Santos has already announced that it wants to resell part of the interests to be acquired.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email firstname.lastname@example.org