A few months ago, Royal Dutch Shell (NYSE: RDS-A) (NYSE: RDS-B) sold off $7.25 billion of its oil sands assets to Canadian Natural Resources (NYSE: CNQ). Last week, ConocoPhillips (NYSE: COP) joined the ranks of big oil players that are selling their sands projects, with a deal nearly double that already massive number: $13.3 billion.In this segment from Industry Focus: Energy, analysts Sean O'Reilly and Taylor Muckerman explain why these companies are selling off their sands projects, who they're selling them to, what both the buyers and the sellers are getting out of these deals, what this means for the oil industry at large, and more.A full transcript follows the video.Continue reading
Conocophillips To Sell $13.3 Billion In Oil Sands Assets
newsfeedback@fool.com (Motley Fool Staff), The Motley Fool
Wed, 04/05/2017 - 11:23am
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