ConocoPhilips Confirms Marketing Nigerian Assets

LONDON - ConocoPhilips is marketing its assets in Nigeria, which include onshore and offshore oil and gas interests as well as a stake in the Brass LNG facility, a company spokesman said, confirming reports late Tuesday.

Conoco is in the middle of a three-year repositioning aimed at improving its balance sheet and making the company more attractive to investors. The plan includes the sale of $15 billion-$20 billion in assets, large-scale share buybacks and the spinoff of its refining arm.

Copyright (c) 2012 Dow Jones & Company, Inc.

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