Sep 6, 2011
ConocoPhillips China (NYSE:COP) has completed the shutdown of its Bohai oilfield operations, as ordered by China marine authority.
The company says it will continue to work with CNNOC (NYSE:CEO), which holds a 51% stake of in the oil field, to develop a plan to reduce reservoir pressure to ensure the safety of the field
ConocoPhillips (NYSE:COP) has a potential upside of 24.6% based on a current price of $66.44 and an average consensus analyst price target of $82.8.
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