ConocoPhillips to Spin Off Refining, Marketing Arm as Mulva Set to Retire

ConocoPhillips (COP) , the third-largest U.S. energy company, plans to shed its refining business through a spinoff to free capital for oil exploration and increase returns for investors. ConocoPhillips will divide into two separate, publicly traded companies by the end of June 2012, the Houston ...

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