About Phillips 66

With more than 140 years of experience, we are well-positioned to help fulfill global energy needs.

​Providing Energy. Improving Lives.®

We are excited about the future of energy. Our advantaged and nimble company is full of seasoned leadership and talented people making responsible choices to adapt and explore the opportunities the changing market brings.

We do this while living out our values of safety, honor and commitment, to improve lives by providing access to energy which is essential to a high standard of living and health throughout the world.

Our employees, suppliers, and partners share this vision to provide energy in ways that improve lives. Our hard work, and team work, keeps energy flowing. We do the work that makes the world work.

Strategy

We deliver on our vision through consistently executing the strategies proven to drive shareholder value since our start in 2012:

By maintaining strong operating excellence, we protect each other, contribute to the well-being of the communities that support us, deliver quality products to customers and enhance shareholder value.

We are reshaping the company’s portfolio by investing capital in higher-valued businesses. We continuously test our capital allocation decisions through a range of economic and market scenarios.

A disciplined capital allocation process ensures that we focus investments in projects that generate competitive returns throughout the business cycle.

From the company’s 2012 inception to June 30, 2016, we have returned $12.3 billion of capital to shareholders.

Our employees are committed to building capability, pursuing excellence and doing the right thing. We strive to attract, train, develop and retain individuals with the knowledge and skills to implement our business strategy and the character to live our values.

Our Businesses

Refining

Our 13 refineries in the United States and Europe process crude oil and other feedstocks and focus on operating excellence, optimization, safety and increasing margins. The business has a global refining capacity of 2.2 million barrels of crude oil per day.

Our Refineries

Midstream

Whether it’s transporting and storing NGL, crude oil, feedstocks or refined and specialty products, or fractionating NGLs, our Midstream business is essential to the value chain.

Marketing & Lubricants

This business markets refined petroleum products in the United States under the Phillips 66®, Conoco®, and 76® brands and in Europe through JET® and COOP® branded outlets. It also manufactures and markets specialty lubricants under the Phillips 66, Kendall and Red Line brand names.

Chemicals

Our Chemicals business consists of a 50 percent stake in Chevron Phillips Chemical Company (CPChem), a joint venture with Chevron. CPChem’s primary assets are on the Texas Gulf Coast and in the Middle East, with manufacturing sites around the world.

CP Chem

Our Vision and Values

Together, our vision and values are our guiding principles for how we conduct business, day in and day out.

History

Our company’s name Phillips 66 reflects our rich history, strong brand recognition and value from being one of the leading fuel brand names in the United States for almost 130 years. Phillips 66 has had great moments that demonstrate its vision and values, and we’ve never been more excited about the future.
  • Origins
    Origins
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    Origins

    Conoco began as the Continental Oil and Transportation Co., one of the first petroleum marketers in the West, in 1875.
  • Phillips Petroleum founded
    Phillips Petroleum founded
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    Phillips Petroleum founded

    Brothers Frank and L.E. Phillips founded Phillips Petroleum Company, headquartered in Bartlesville, OK in 1917.
  • The Big Orange Ball is born
    The Big Orange Ball is born
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    The Big Orange Ball is born

    The 76 brand, long familiar in the western U.S., was created by Union Oil Company of California (later Unocal) in 1932.
  • Helping win the war
    Helping win the war
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    Helping win the war

    During World War II, Phillips Petroleum and Conoco made high-octane aviation fuel possible, boosting the power of Allied airplanes.
  • After the war
    After the war
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    After the war

    During the 50s, 60s and 70s, Conoco and Phillips Petroleum expanded operations and entered new markets. Conoco built a new refinery in Billings, Mont. and expanded overseas. Phillips invented polyethylene plastics and entered the plastics business. It also began producing a polyolefin plastic trademarked as Marlex. Wham-O Manufacturing used Marlex in the production of the hula hoop.
  • Takeover targets
    Takeover targets
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    Takeover targets

    In 1981, DuPont acquired Conoco after a heated takeover battle, and Conoco became a wholly owned DuPont subsidiary. It was the largest merger in U.S. history at that time. Phillips Petroleum fended off multiple takeover attempts during the 80s as well.
  • Merger of equals
    Merger of equals
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    Merger of equals

    Conoco and Phillips Petroleum officially merged in 2002 to become ConocoPhillips, creating the sixth-largest publicly traded oil company in the world and the third-largest in the U.S.
  • Spinning off downstream
    Spinning off downstream
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    Spinning off downstream

    ConocoPhillips spun off its midstream and downstream businesses to create a publicly traded company called Phillips 66 that began trading under the symbol PSX on the New York Stock Exchange (NYSE) on May 1, 2012.
  • Today
    Today
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    Today

    Phillips 66 has 14,000 employees worldwide committed to safety and operating excellence. In 2016, Phillips 66 moved into its new world headquarters in Houston and completed a multibillion-dollar midstream and export project on the Texas Gulf Coast.