ConocoPhillips Stock Rises on Acquisition Deal in Iraq
ConocoPhillips (COP) stock rose nearly 2% after announcing a deal to acquire a 42% stake in BP's Iraqi oil fields. The acquisition, expected during the visit of Iraq's Prime Minister Ali al-Zaidi to Washington D.C., aligns with ConocoPhillips' investment strategy and could provide access to significant long-life resources.
Topics: acquisitions energy oil