CALGARY, Alberta May 4 ConocoPhillips
will lay off 300 Canadian workers, mostly in the country's oil
capital of Calgary, after selling most of its local assets to
local producer Cenovus Energy Inc, the Houston-based
company said on Thursday.
The layoffs will occur by the middle of May, ConocoPhillips
spokesman Rob Evans said.
It was not immediately clear what percentage of the Canadian
workforce would be laid off. The company had more than 2,000
staff as of late-2015 and currently employs around 13,300
ConocoPhillips in March agreed to sell oil sands and Western
Canadian natural gas assets to Cenovus for C$17 billion ($12.4
billion), making it the latest international oil major to pull
back from a region where high costs and low crude prices have
made it hard for large companies to make an acceptable return.
($1 = 1.3726 Canadian dollars)
(Reporting by Ethan Lou in Calgary, Alberta; Editing by