“Market Cap $86.31 B As of May 2014
At a Glance
- Industry: Oil & Gas Operations
- Founded: 1917
- Country: United States
- CEO: Ryan Lance
- Website: www.conocophillips.com
- Employees: 18,400
- Sales: $55.6 B
- Headquarters: Houston, Texas
#76 Global 2000
- #147 in Sales
- #52 in Profit
- #221 in Assets
- #92 in Market value
ConocoPhillips explore for, produce, transports and markets crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. It operates through six segments: Exploration and Production, Midstream, Refining and Marketing, LUKOIL Investment, Chemicals and Emerging Businesses. The Exploration and Production segment primarily explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids on a worldwide basis. The Midstream segment gathers, processes and markets natural gas produced by ConocoPhillips and others, and fractionates and markets natural gas liquids, predominantly in the United States and Trinidad. The Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia. The LUKOIL Investment segment consists of its investment in the ordinary shares of OAO LUKOIL, an international, integrated oil and gas company headquartered in Russia. The Chemicals segment manufactures and markets petrochemicals and plastics on a worldwide basis. The Emerging Businesses segment represents its investment in new technologies or businesses outside the company’s normal scope of operations. The company was founded on August 30, 2002 and is headquartered in Houston, TX.“
Conoco Inc. was an American oil company founded in 1875 as the Continental Oil and Transportation Co. Based in Ogden, Utah, the company was a coal, oil, kerosene, grease and candles distributor in the West. Marland Oil Co. (founded by exploration pioneer E. W. Marland) later acquired the assets (subject to liabilities) of Continental Oil Co., for a consideration of 2,317,266 shares of stock. On June 26, 1929, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Ponca City, Oklahoma. The acquisition gave Conoco the red bar-and-triangle logo previously used by Marland. Conoco used the logo between 1930 and 1970, when the current red capsule logo was adopted.
The Conoco headquarters were in Ponca City until 1949, when it moved to Houston, Texas. In 2002 Conoco Inc. and Phillips Petroleum Co., whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips.
Numerous state corporation filings are identified “Continental Oil Co.” and “Continental Oil Corp.” and “Continental Oil Co. of Texas” as recorded with the Texas Secretary of State and Delaware Secretary of State. Merger of San Jacinto Petroleum Corp. and Continental Oil Corp. is recorded in 1964 with Delaware Secretary of State.
In 2005, ConocoPhillips began rebranding its (Union) 76 gas stations, which Phillips had acquired from Tosco Corp. before the merger with Conoco. The move prompted a petition campaign by fans hoping to save the historic 76 orange ball signage.
In March 2006, ConocoPhillips bought Wilhelmshavener Raffineriegesellschaft mbH in Germany, and Burlington Resources in the United States.
On May 10, 2006, Richard Armitage, former deputy-secretary of the U.S. State Department, was elected to the board of directors of the ConocoPhillips oil company.
In 2007, the Chevron Corp. converted all of the Conoco gas stations in Mississippi to the Texaco brand.
In late 2009, the company announced asset sales to increase investor returns. Included are debt reduction and stock buy back. In March 2011 the program was enlarged up to $10 billion assets sales in the next two years.
ConocoPhillips intends to implement a floating liquefied natural gas facility by 2016–2019, and has completed quantitative risk analysis of a design that will undergo pre-feed study in 2011.
On July 14, 2011, ConocoPhillips announced its intent to separate the company’s upstream and downstream businesses into two stand-alone, publicly traded corporations, with the intent of maximizing shareholder value. On May 1, 2012, all midstream, downstream, marketing and chemical operations were separated into a new company named Phillips 66, headquartered in Houston. As a result, ConocoPhillips continued its operations as an upstream (exploration and production) company.
In April 2012, ConocoPhillips sold its Trainer Refinery to Monroe Energy LLC, a subsidiary of Delta Air Lines.
In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Conoco Phillips“