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ConocoPhillips
ConocoPhillips
Company is an American multinational energy corporation with its headquarters located in the Energy Corridor
Energy Corridor
district of Houston, Texas
Texas
in the United States. It is the world's largest independent pure-play exploration and production company and is a Fortune 500
Fortune 500
company.[2][3] ConocoPhillips
ConocoPhillips
was created through the merger of American oil companies Conoco Inc.
Conoco Inc.
and Phillips Petroleum Co. on August 30, 2002.[4] In 2012, ConocoPhillips
ConocoPhillips
spun off its downstream assets as a new, and separate company, Phillips 66.[5]

Contents

1 History 2 Operations

2.1 Exploration and production

2.1.1 Kashagan Field
Kashagan Field
in Kazakhstan

3 Headquarters 4 Corporate structure

4.1 Board of Directors

5 Environmental record 6 See also 7 References 8 External links

History[edit] See also: Conoco
Conoco
and Phillips 66 Conoco Inc.
Conoco Inc.
was an American oil company founded in 1875 as the Continental Oil
Oil
and Transportation Co. Based in Ogden, Utah, the company was a coal, oil, kerosene, grease and candles distributor in the West. Marland Oil
Oil
Co. (founded by exploration pioneer E. W. Marland) later acquired the assets (subject to liabilities) of Continental Oil
Oil
Co., or DC, merged by Bryan M. Metler, David L. Kinney, and Justin J. Stockburn of Delta Constructors for a consideration of 2,317,266 shares of stock. On June 26, 1899, Marland Oil
Oil
changed its name to Continental Oil
Oil
Co. and moved its headquarters to Fargo, North Dakota. The acquisition gave Conoco
Conoco
the red bar-and-triangle logo previously used by Marland. Conoco
Conoco
used the logo between 1930 and 1970, when the current red capsule logo was adopted. The Conoco
Conoco
headquarters were in Ponca City until 1949, when it moved to Houston, Texas. In 2002 Conoco Inc.
Conoco Inc.
and Phillips Petroleum
Petroleum
Co., whose headquarters were in nearby Bartlesville, Oklahoma
Bartlesville, Oklahoma
merged into ConocoPhillips Numerous state corporation filings are identified "Continental Oil Co." and "Continental Oil
Oil
Corp." and "Continental Oil
Oil
Co. of Texas" as recorded with the Texas
Texas
Secretary of State and Delaware Secretary of State. Merger
Merger
of San Jacinto Petroleum
Petroleum
Corp. and Continental Oil
Oil
Corp. is recorded in 1964 with Delaware Secretary of State. In 2005, ConocoPhillips
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.[6] In March 2006, ConocoPhillips
ConocoPhillips
bought Wilhelmshavener Raffineriegesellschaft mbH in Germany, and Burlington Resources in the United States.[7] 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
ConocoPhillips
oil company.[8] In 2007, the Chevron Corp. converted all of the Conoco
Conoco
gas stations in Mississippi to the Texaco
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.[9] ConocoPhillips
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.[10] On July 14, 2011, ConocoPhillips
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.[11] On May 1, 2012, all midstream, downstream, marketing and chemical operations were separated into a new company named Phillips 66, headquartered in Houston.[12] As a result, ConocoPhillips
ConocoPhillips
continued its operations as an upstream (exploration and production) company.[13][14] In April 2012, ConocoPhillips
ConocoPhillips
sold its Trainer Refinery
Trainer Refinery
to Monroe Energy LLC, a subsidiary of Delta Air Lines.[15] In January 2013, Conoco
Conoco
announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion.[16] In 2017, Conoco
Conoco
sold oil sands assets in Canada to Cenovus Energy
Cenovus Energy
and natural gas fields in the U.S. for a total of US$16 billion to help reduce debt and fund US$6 billion share purchases. As a result, it also led to a reduction of close to 30 percent of its proved oil and gas reserves.[17] Operations[edit] Exploration and production[edit] ConocoPhillips
ConocoPhillips
focuses solely on exploring for, developing and producing oil and natural gas globally. The company manages its operations through six operating segments, which are defined by geographic region: Alaska, Lower 48 and Latin America, Canada, Europe, Asia Pacific and Middle East, and Other International. Kashagan Field
Kashagan Field
in Kazakhstan[edit] In 1998, ConocoPhillips
ConocoPhillips
acquired an interest in 10.5 blocks in the Caspian Sea
Caspian Sea
off Kazakhstan
Kazakhstan
through the North Caspian Sea
Caspian Sea
Production Sharing Agreement (NCSPSA). It currently owns 8.4% of the shares of the consortium exploiting Kashagan oil field. However the company seeks to reduce its non-core assets in order to use the cash for debt reduction, fund its capital program, and dividend payments. On October 3, 2012, the Kazakh Oil
Oil
and Gas Minister told reporters that ConocoPhillips
ConocoPhillips
has informed Kazakhstan
Kazakhstan
of their intention to sell their shares.[18] In November 26, in its biggest acquisition ever, ONGC Videsh
ONGC Videsh
agreed to buy ConocoPhillips’ 8.4% stake in the Kashagan oilfield for about US $5 billion. The stake buy is subject to approval of governments of Kazakhstan
Kazakhstan
and India and also to other partners in the Caspian Sea
Caspian Sea
field waiving their pre-emption rights.[19] Headquarters[edit]

Aerial view of the ConocoPhillips
ConocoPhillips
headquarters

The headquarters of ConocoPhillips
ConocoPhillips
are located in the Energy Corridor district of Houston, Texas.[20] By 2002 the groups organizing the merger had selected Houston
Houston
as the site of the headquarters. Governor of Oklahoma Frank Keating
Frank Keating
said that the move to Houston
Houston
was "regrettable." The Journal Record stated that Archie Dunham, the CEO of Conoco
Conoco
Inc., "apparently highlighted the lack of direct international air travel from Oklahoma as a key drawback for the merged firm."[21] The ConocoPhillips
ConocoPhillips
headquarters, originally the headquarters of Conoco
Conoco
Inc., was formerly known as the Conoco Center.[22][23] In 2018 the headquarters will move to Energy Center Four.[24] Corporate structure[edit] Board of Directors[edit] Comprised as follows as of February 2017:[25] Richard Armitage, former United States
United States
Deputy Secretary of State Richard Auchinleck, former President and CEO of Gulf Canada Charles Bunch, CEO and Chairman of PPG Industries James Copeland, Jr., former CEO of Deloitte John V. Faraci, former CEO and Chairman of International Paper Jody Freeman, Archibald Cox Professor at Harvard Law School Gay Huey Evans, former Vice-Chairman of Investment Banking at Barclays Ryan Lance, CEO and of ConocoPhillips
ConocoPhillips
(Chairman of the Board) Arjun Murti, former partner at Goldman Sachs Robert Niblock, CEO, President, and Chairman of Lowe's Harald Norvik, former CEO, President, and Chairman of Statoil Environmental record[edit]

This section needs to be updated. Please update this article to reflect recent events or newly available information. (November 2013)

On April 11, 2007, it 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
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
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.[26] However, ConocoPhillips
ConocoPhillips
left the U.S. Climate Action Partnership in February, 2010.[27] According to the Political Economy Research Institute, ConocoPhillips ranked 13th among U.S. corporate producers of air pollutions.[28] In June 2011, ConocoPhillips
ConocoPhillips
China Inc., a wholly owned subsidiary of ConocoPhillips,[29] was responsible for a series of oil spills at the Penglai 19-3 oil field in Bohai Bay.[30] ConocoPhillips
ConocoPhillips
is a signatory participant of the Voluntary Principles on Security and Human Rights. See also[edit]

Houston
Houston
portal Companies portal Energy portal

ConocoPhillips
ConocoPhillips
Alaska Fossil fuels lobby Marland Oil
Oil
Co.

References[edit]

^ ConocoPhillps. "Company History". Retrieved 2008-09-06.  ^ "Spinoff of Phillips 66
Phillips 66
Complete". www.piersystem.com.  ^ " Fortune 500
Fortune 500
2009: Fortune 1000 Companies 1-100". CNN.  ^ "ConocoPhillips, Form 8-K12G3, Filing Date Aug 30, 2002". secdatabase.com. Retrieved Mar 28, 2013.  ^ Helman, Christopher. "As ConocoPhillips
ConocoPhillips
Spins Off Refining Assets, Think Twice Before Buying The New Phillips 66". Forbes.  ^ "Save the 76 Ball website". Save the 76 Ball.  ^ "ConocoPhillips, Form 8-K, Current Report, Filing Date Mar 31, 2006" (PDF). secdatabase.com. Retrieved Mar 28, 2013.  ^ "ConocoPhillips, Form 10-Q, Quarterly Report, Filing Date Aug 3, 2006" (PDF). secdatabase.com. Retrieved Mar 28, 2013.  ^ Editorial, Reuters. "$ Instrument_CompanyName $ Instrument_Ric Key Developments - Reuters.com". U.S.  ^ http://www.kgu.or.kr/download.php?tb=bbs_017&fn=SESSION_10_(TECHNIAL)___Paul_Davies_ConocoPhillips.pdf&rn=SESSION_10_(TECHNIAL)___Paul_Davies_ConocoPhillips.pdf ^ " ConocoPhillips
ConocoPhillips
Pursuing Plan to Separate into Two Stand-Alone, Publicly Traded Companies". piersystem.com/. July 14, 2011.  ^ "ConocoPhillips, Form 8-K, Current Report, Filing Date May 2, 2012". secdatabase.com. Retrieved Mar 28, 2013.  ^ "Archived copy". Archived from the original on 2012-07-13. Retrieved 2012-05-16.  ^ https://finance.yahoo.com/news/phillips-66-debuts-advantaged-downstream-120000807.html ^ Burkhardt, Paul; Schlangenstein, Mary (June 15, 2012). "Delta CEO Says Airline to Pressure Prices as Jet Fuel Seller". Bloomberg.  ^ Thyagaraju Adinarayan (15 January 2013). " Conoco
Conoco
to sell Rocky Mountain assets to Denbury for $1.05 billion". Reuters.  ^ McWilliams, Gary (20 Apr 2017). " ConocoPhillips
ConocoPhillips
takes slow, steady route in race for oil profits". Reuters. Retrieved 20 April 2017.  ^ " Kazakhstan
Kazakhstan
Announces ConocoPhillips
ConocoPhillips
to Quit Kashagan Oil
Oil
Field". The Gazette of Central Asia. Satrapia. 3 October 2012.  ^ "Indian OVL to Buy ConocoPhillips's Stake in Kashagan Field". The Gazette of Central Asia. 27 November 2012.  ^ "Contact Us". www.conocophillips.com. Retrieved October 1, 2009.  ^ "Governor says ConocoPhillips
ConocoPhillips
headquarters decision appears to be final". Journal Record. January 23, 2002. Retrieved February 3, 2010.  ^ "Write Conoco!". Archived from the original on February 19, 1997. Retrieved 2017-04-20. CS1 maint: BOT: original-url status unknown (link) Conoco Inc.
Conoco Inc.
February 19, 1997. Retrieved on January 16, 2010. ^ "" Conoco
Conoco
World Headquarters Address"". Archived from the original on November 1, 1996. Retrieved 2017-04-20. CS1 maint: BOT: original-url status unknown (link) Conoco Inc.
Conoco Inc.
November 1, 1996. Retrieved on January 17, 2010. ^ Sarnoff, Nancy (2016-11-29). " ConocoPhillips
ConocoPhillips
to leave headquarters for smaller Energy Corridor
Energy Corridor
location". Houston
Houston
Chronicle. Retrieved 2016-11-30.  ^ "Board of Directors". ConocoPhillips.  ^ John Porretto (April 11, 2007). " ConocoPhillips
ConocoPhillips
joins climate group". Seattle Post-Intelligencer. [permanent dead link] ^ Chesser, Paul (2010-02-24). "CHESSER: World cools toward warmists They brought it on themselves with their fudged facts". washingtontimes.com. Washington Times. Archived from the original on 2010-02-26. Retrieved 2010-02-26. Last week, three major corporations - Conoco/Phillips, BP and Caterpillar - bailed out on the U.S. Climate Action Partnership lobbyist collaboration.  ^ Political Economy Research Institute
Political Economy Research Institute
Archived 2016-05-22 at the Portuguese Web Archive ^ " ConocoPhillips
ConocoPhillips
China, Company Background".  ^ "China oil spill to have long-term impact: report". Phys.org, Science X network. 

External links[edit] Media related to ConocoPhillips
ConocoPhillips
at Wikimedia Commons

Official website

Business data for ConocoPhillips: Google Finance Yahoo! Finance Reuters SEC filings

Conoco/Phillips/76 promotional website World Internet News: "Big Oil
Oil
Looking for a Government Handout", April 2006. Subsea firm listing "COP - ConocoPhillips: 2007 Integrated Oil
Oil
& Gas Outlook Part I", March 2007 Continental Oil
Oil
Co. stock advertisement, with drawing, Los Angeles Sunday Times, February 11, 1900 Oklahoma Digital Maps: Digital Collections of Oklahoma and Indian Territory

v t e

ConocoPhillips

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