ConocoPhillips to Sell Syncrude Stake to Sinopec

April 12, 2010, 1:04 pm

ConocoPhillips announced Monday that it had agreed to sell its 9 percent stake in Syncrude Canada to the Sinopec International Petroleum Exploration and Production Company of China for $4.65 billion.

“This is an important step in the $10 billion divestiture program which we announced last October, and we are pleased that S.I.P.C. has recognized the value of this quality asset,â€