ConocoPhillips
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| ConocoPhillips Company | |
|---|---|
 |
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| Type | Public (NYSE: COP) |
| Founded | August 30, 2002 (merger) 1875 (Conoco) 1917 (Phillips)[1] |
| Headquarters | Houston, Texas, USA |
| Key people | James Mulva, CEO & Chairman John Carrig, CFO |
| Industry | Oil and Gasoline |
| Products | Petrochemical |
| Revenue | ▲$188.52 Billion USD (2006)[2] |
| Net income | ▲$15.55 Billion USD (2006)[2] |
| Employees | 38,000 (2006) |
| Website | www.conocophillips.com |
ConocoPhillips Company (NYSE: COP) is an international energy corporation with its headquarters located in Houston, Texas. It was created through the merger of Conoco Inc. and the Phillips Petroleum Company on August 30, 2002. Headquarters are based in Houston, Texas in the United States, and offices are located worldwide. It is one of the six "supermajor" vertically integrated oil companies.
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[edit] Overview
ConocoPhillips employs approximately 32,700 people worldwide in nearly 40 countries. As of 2006, their 12 U.S. refineries had a combined crude processing capacity of 2,208,000 barrels per day (351,000 m³/d) (BPD) making it the second-largest refiner in the United States. Worldwide, they have a combined crude processing capacity of 2,901,000 bbl/d (461,200 m³/d) making it the fifth-largest refiner in the world.
[edit] Business units
[edit] Refining & Marketing
ConocoPhillips operates 19 refineries around the world.
| Country | Name | Location | Crude Processing Capacity (KBD) |
|---|---|---|---|
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Wood River Refinery | Roxana, IL | 306 |
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Wilhelmshaven Refinery | Wilhelmshaven | 260 |
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Alliance Refinery | Belle Chasse, LA | 247 |
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Sweeny Refinery | Old Ocean, TX | 247 |
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Bayway Refinery | Linden, NJ | 238 |
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Lake Charles Refinery | Westlake, LA | 239 |
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Humber Refinery | North Linconshire | 229 |
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Ponca City Refinery | Ponca City, OK | 187 |
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Trainer Refinery | Trainer, PA | 185 |
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Borger Refinery | Borger, TX | 146 |
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Los Angeles Refinery | Carson/Wilmington, CA | 139 |
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San Francisco Refinery | Rodeo, CA | 120 |
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Ferndale Refinery | Ferndale, WA | 105 |
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Whitegate Refinery | Cork | 71 |
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Billings Refinery | Billings, MT | 58 |
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Melaka Refinery | Melaka | 58 |
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MIRO Refinery* | Karlsruhe | 56 |
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Czech Refineries* | Kralupy & Litvinov | 27 |
* Denotes joint ventures. Crude capacity reflects that proportion.
In the United States, the company operates Conoco, Phillips 66, and (Union) 76 (which was part of Unocal for many years, later a Tosco brand before that company was bought by Phillips) retail gas stations.
In Europe, it operates Jet filling stations in Austria, Belgium, the Czech Republic, Denmark, Finland, Germany, Hungary, Norway, Poland, Slovakia, Sweden, Thailand and the United Kingdom.
ProJET was the brand operated in Malaysia, Turkpetrol in Turkey, and COOP in Switzerland.
[edit] 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. The main office was later moved to Ponca City, Oklahoma, when on June 26, 1929, Marland Oil Company (founded by exploration pioneer E. W. Marland) acquired for a consideration of 2,317,266 shares of stock, the assets (subject to liabilities) of Continental Oil Company. At that time Marland Oil changed its name to Continental Oil Company. The acquisition gave Conoco the red triangle symbol previously used by Marland and would become Conoco's logo from 1930 to 1970 when the current capsule logo was adopted.
- In 2005, the corporation began rebranding their (Union) 76 gas stations, prompting a petition campaign by fans hoping to save the historic 76 orange ball signage[3]. 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 be saving several dozen orange and blue 76 Balls to give to museums, as well as fabricating about one hundred spherical 76-logo signs in the ConocoPhillips color scheme of red and blue, to be placed at select 76 stations.
- On March of 2006, ConocoPhillips bought Wilhelmshavener Raffineriegesellschaft mbH in Germany.
- On March of 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.
[edit] 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 that in January sent a letter to President George W. Bush stating that mandatory emissions caps are needed to reduce the flow of carbon dioxide and other heat-trapping gases into the atmosphere. ConocoPhillips has said it will spend $150 million this year on the research and development of new energy sources and technologies— a 50 percent increase in spending from 2006.[4]
A recent University of Massachusetts study has ranked ConocoPhillips third among U.S. corporate producers of air pollution. According to the researchers, ConocoPhillips facilities release more than eight million pounds of toxic chemicals annually into the air.[5] The company has also been implicated in some of the United States' worst toxic waste dumps; the Center for Public Integrity has announced that United States Environmental Protection Agency documents link ConocoPhillips to 52 Superfund sites.[6]
In 2003, ConocoPhillips was named as a defendant in a lawsuit brought by a Georgian environmental group called Green Alternative. The suit claimed that a number of foreign oil companies colluded with the Georgian government to induce authorities to approve a $3 billion pipeline without properly evaluating environmental impact.[7]
In 2007, a number of environmental groups including the Sierra Club and the Prairie Rivers Network announced their support for ConocoPhillips' plan to expand its Wood River oil refinery. A spokesperson for the group said that, despite ConocoPhillips' history of environmental policy violations, she was optimistic that the corporation would comply with pollution laws as it expanded the refinery.[8]
[edit] See also
[edit] References
- ^ ConocoPhillps. Company History. Retrieved on 2007-01-07.
- ^ a b Conoco Phillips posts 13% drop in quarterly profit. Anchorage Daily News. Published 2007-01-25. Last Retrieved 2007-02-01.
- ^ Save the 76 Ball website
- ^ John Porretto. "ConocoPhillips joins climate group", Seattle Post-Intelligencer, April 11, 2007.
- ^ Political Economy Research Institute
- ^ Center for Public Integrity
- ^ Houston Business Journal
- ^ St. Louis Post-Dispatch
