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27

Conoco To Invest $1.4 bn in Germany Refinery

US oil major ConocoPhillips plans to spend $1.4 billion to acquire and improve a German refinery

US oil major ConocoPhillips plans to spend $1.4 billion to acquire and improve a German refinery that will significantly boost its capacity in Europe, the company said Wednesday.

The company said it plans a deep conversion project and other capital improvements in the Wilhelmshaven plant.

Conoco will spend as much as $5 billion between 2006 and 2011 to increase refinery capacity and utilization worldwide.