Phillips 66's Chemicals segment comprises a 50 percent equity investment in Chevron Phillips Chemical Company LLC (CPChem), a joint venture with Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation.
- Maintained top-tier safety performance by participating in OSHA's Voluntary Protection Program (VPP). Currently 17 of 20 eligible sites are VPP certified.
- Strengthened balance sheet by retiring $1 billion of debt.
- Began commercial production at the Saudi Polymers Company (SPCo) petrochemical complex in Jubail Industrial City, Saudi Arabia, which is a 35-percent-owned joint venture project.
- Announced plans and began work to expand the NGL fractionator complex at its Sweeny facility in Old Ocean, Texas. The project was completed in the second quarter of 2013.
- Advanced plans to build a world-scale ethane cracker and polyethylene facilities. The proposed ethane cracker will be built at the company's Cedar Bayou facility in Baytown, Texas. The polyethylene facility will be built near the company's Sweeny facility in Old Ocean, Texas. Both projects are anticipated to start up in 2017.
- Announced and began construction of a world-scale 1-hexene plant at the company's Cedar Bayou chemical complex in Baytown, Texas, with anticipated startup in 2014.
Now in its 13th year of operations, CPChem had approximately 4,700 employees worldwide and approximately $9.4 billion in assets, as of Dec. 31, 2012.
Headquartered in The Woodlands, Texas, CPChem's business is structured around two primary operating segments: Olefins and Polyolefins (O&P) and Specialties, Aromatics and Styrenics (SA&S). The O&P segment produces and markets ethylene, propylene and other olefins products. The majority of the ethylene is consumed within the O&P segment for the production of polyethylene, normal alpha olefins and polyethylene pipe. The SA&S segment manufactures and markets aromatics products, such as benzene, styrene, paraxylene and cyclohexane, as well as polystyrene and styrene-butadiene copolymers. SA&S also manufactures and markets a variety of specialty chemical products, including organosulfur chemicals, solvents, drilling chemicals, mining chemicals, and high-performance engineering plastics and compounds.
CPCHEM IS THE:
- Largest producer of high-density polyethylene (HDPE) in the world.
- Fourth-largest ethylene producer in North America.
- Second-largest cyclohexane producer and largest cyclohexane marketer in the world.
- Second-largest alpha olefins producer in the world.
CPCHEM'S PRIMARY BRANDS INCLUDE:
- Marlex® polyethylene, a premium extrusion and rigid packaging resin.
- MarFlex® polyethylene, a superior flexible packaging resin.
- K-Resin® styrene-butadiene copolymer (SBC), the number one brand of SBC in the world.
- Ryton® polyphenylene sulfide (PPS), a high-performance engineering polymer known for dimensional stability and resistance to corrosive and high-temperature environments.
- Soltex® drilling mud additive, a high-temperature/high-pressure fluid loss control additive for water-based muds.
- Scentinel® Gas Odorants which are added to natural gas to give it a distinctive smell, a vital safety measure.
For more information, visit www.cpchem.com.