ConocoPhillips (COP) Inks MOU to Pursue Natural Gas Opportunities in Syria

Core Insights - ConocoPhillips is pursuing natural gas opportunities in Syria through a memorandum of understanding with Novatera and Syrian Petroleum Company, aiming to enhance Syria's natural gas production and energy security [2][3]. Group 1: Company Developments - The memorandum of understanding allows ConocoPhillips to develop existing gas fields in Syria and explore new ones using modern technology [2]. - Analysts at UBS have reiterated a Buy rating on ConocoPhillips but have lowered the price target from $122 to $117 due to concerns over increased capital expenditures for the Willow project, which could impact free cash flow [3]. Group 2: Company Overview - ConocoPhillips is an independent exploration and production company engaged in finding, developing, and producing crude oil, natural gas, and liquefied natural gas globally [4].