ConocoPhillips buying Marathon Oil in deal valued at 22.5 billion dollars

A Phillips 66 Conoco fuel service station (Alamy/PA)

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately 17.1 billion dollars (£13.4 billion).

The deal is valued at 22.5 billion dollars (£17.6 billion) when including 5.4 billion dollars (£4.2 billion) in debt.