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ConocoPhillips Company
Type Public (NYSECOP)
Founded August 30, 2002 (merger)[1]
1875 (Conoco)
1917 (Phillips)
Headquarters Houston, Texas, USA
Area served Worldwide
Key people James J. Mulva
(Chairman) & (CEO)
Industry Oil and Gasoline
Products Oil
Natural Gas
Petroleum
Lubricant
Petrochemical
List of marketing brands
Revenue US$ 246.182 billion (2008)
Operating income $ -3.593 billion (2008)
Net income $ -16.998 billion (2008)
Total assets $ 142.868 billion (2008)
Total equity $ 55.165 billion (2008)
Employees 33,800 - March 2009
Website ConocoPhillips.com

ConocoPhillips Company (NYSECOP) is an international energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States. It is also one of the fortune 500 companies.[2] It is the fifth largest private sector energy corporation in the world and is one of the six "supermajor" vertically integrated oil companies. Its fuel stations are known by the Conoco, Phillips 66 and Union 76 brands. ConocoPhillips was created through the merger of Conoco Inc.[3] and the Phillips Petroleum Company on August 30, 2002.

Contents

Overview

ConocoPhillips employs approximately 33,800 people worldwide in nearly 40 countries. ConocoPhillips is the second-largest refiner in the United States, with crude oil processing capacity of approximately 2.0 MMBD; and the world’s fourth-largest nongovernment-controlled refiner, with crude oil processing capacity of nearly 2.7 MMBD globally.

History

  • Conoco Inc. was an American oil company founded in 1875 as the Continental Oil and Transportation Company. Based in Ogden, Utah, the company was a coal, oil, kerosene, grease and candles distributor in the West. Marland Oil Company (founded by exploration pioneer E. W. Marland) later acquired the assets (subject to liabilities) of Continental Oil Company, for a consideration of 2,317,266 shares of stock. On June 26, 1929, Marland Oil changed its name to Continental Oil Company 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.
  • In 2005, ConocoPhillips began rebranding its (Union) 76 gas stations, which Phillips had acquired from Tosco Corporation before the merger with Conoco. The move prompted a petition campaign by fans hoping to save the historic 76 orange ball signage.[4] On January 20, 2007, a Wall Street Journal article on the petition campaign included a statement from ConocoPhillips that it was changing course and would save several dozen orange and blue 76 balls to give to museums. The company also announced that it would fabricate about 100 new 76 ball signs in the ConocoPhillips color scheme of red and blue, to be placed at select 76 stations.
  • In March 2006, ConocoPhillips bought Wilhelmshavener Raffineriegesellschaft mbH in Germany.
  • In March 2006, ConocoPhillips bought Burlington Resources.
  • 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.
  • ConocoPhillips Alaska
Chart of the major energy companies dubbed "Big Oil" sorted by latest published revenue

Business units

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Tanker Fleets

ConocoPhillips has several subsidiary oil tanker fleets.

US Flag

Polar Tankers is the US Flagged shipping arm of ConocoPhillips.[5]

Endeavour Class

These vessels were built by Avondale Shipyard, Northrop Grumman Ship Systems in Avondale, LA. They are double hull type tankers of 894.7 ft long and 140,000 DWT

  • Polar Endeavour - 2001
  • Polar Resolution - 2002
  • Polar Discovery - 2003
  • Polar Adventure - 2004
  • Polar Enterprise - 2007

Foreign Flag

Exploration, Refining & Marketing

Recently, Bangladesh granted a string of nine offshore exploration gas blocks in the Bay of Bengal to ConocoPhillips. In February 2008, ConocoPhillips was selected for 8 blocks as a lone bidder.

ConocoPhillips operates 19 refineries around the world.

In the United States, the company operates Conoco, Phillips 66 and (Union) 76 stations. The 76 brand, long familiar in the western and southern U.S., was created by Union Oil Company of California (later Unocal) in 1932.

In Europe, ConocoPhillips operates Jet filling stations in Austria, Belgium, the Czech Republic, Denmark, Finland, Germany, Hungary, Norway, Poland, Slovakia, Sweden and the United Kingdom.

The company markets under the ProJET brand name in Malaysia, Turkpetrol in Turkey and COOP in Switzerland.

Country Name Location Crude Processing Capacity (KBD)
United States Wood River Refinery Roxana, IL 306
Germany Wilhelmshaven Refinery Wilhelmshaven 260
United States Alliance Refinery Belle Chasse, LA 247
United States Sweeny Refinery Old Ocean, TX 247
United States Bayway Refinery Linden, NJ 238
United States Lake Charles Refinery Westlake, LA 239
United Kingdom Humber Refinery North Linconshire 265
United States Ponca City Refinery Ponca City, OK 187
United States Trainer Refinery Trainer, PA 185
United States Borger Refinery* Borger, TX 146
United States Los Angeles Refinery Carson/Wilmington, CA 139
United States San Francisco Refinery Rodeo, CA 120
United States Ferndale Refinery Ferndale, WA 105
United States Santa Maria Refinery Arroyo Grande, CA 48
Republic of Ireland Whitegate Refinery Cork 71
United States Billings Refinery Billings, MT 118
Malaysia Melaka Refinery Melaka 58
Germany MIRO Refinery* Karlsruhe 56
Czech Republic Czech Refineries* Kralupy & Litvínov 27

* Denotes joint ventures. Crude capacity reflects that proportion.

Environmental record

On April 11, 2007, ConocoPhillips became the first U.S. oil company to join the U.S. Climate Action Partnership, an alliance of big business and environmental groups. The partnership in January 2007 had advised President George W. Bush that mandatory emissions caps would be needed to reduce the flow of carbon dioxide and other heat-trapping gases into the atmosphere. In 2007 ConocoPhillips announced it would spend $150 million that year on the research and development of new energy sources and technologies — a 50 percent increase in spending from 2006.[6]

According to the Political Economy Research Institute, ConocoPhillips ranked 13th among U.S. corporate producers of air pollutions.[7]

In 2003, ConocoPhillips was named as a defendant in a lawsuit brought by Green Alternative, an environmental group based in the former Soviet republic of Georgia. The suit claimed that a number of foreign oil companies colluded with the Georgia government to induce authorities to approve a $3 billion pipeline without properly evaluating environmental impact.[8]

Headquarters

ConocoPhillips headquarters in the Energy Corridor area of Houston

The headquarters of ConocoPhillips are located in the Energy Corridor district of Houston, Texas.[9] By 2002 the groups organizing the measure had selected Houston as the site of the headquarters. Governor of Oklahoma Frank Keating said that the move to Houston was "regrettable." The Journal Record stated that Archie Dunham, the CEO of Conoco Inc., "apparently highlighted the lack of direct international air travel from Oklahoma as a key drawback for the merged firm."[10] The ConocoPhillips headquarters, originally the headquarters of Conoco Inc., was formerly known as the Conoco Center.[11][12]

See also

References

  1. ^ ConocoPhillps. "Company History". http://www.conocophillips.com/about/who_we_are/history/index.htm. Retrieved 2008-09-06. 
  2. ^ http://money.cnn.com/magazines/fortune/fortune500/2009/full_list/
  3. ^ Conoco and Phillips - Legal Disclaimer In connection with the proposed Conoco/Phillips merger, Conoco, Phillips and Corvette Porsche Corp. (which will be renamed ConocoPhillips in connection with the proposed merger) will file a joint proxy statement/prospectus with the Securities and Exchange Commission.
  4. ^ Save the 76 Ball website
  5. ^ [1]
  6. ^ John Porretto (April 11, 2007). "ConocoPhillips joins climate group". Seattle Post-Intelligencer. http://seattlepi.nwsource.com/business/1310AP_ConocoPhillips_Climate.html. 
  7. ^ Political Economy Research Institute
  8. ^ Houston Business Journal
  9. ^ "Contact Us." ConocoPhillips. Retrieved on October 1, 2009.
  10. ^ "Governor says ConocoPhillips headquarters decision appears to be final." Journal Record. January 23, 2002. Retrieved on February 3, 2010.
  11. ^ "Write Conoco!." Conoco Inc. February 19, 1997. Retrieved on January 16, 2010.
  12. ^ "Conoco World Headquarters Address." Conoco Inc. November 1, 1996. Retrieved on January 17, 2010.

External links


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