Providing Energy. Improving Lives.
We are excited about the future of energy. Our advantaged and nimble company is full of seasoned leadership and talented teams 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; improving lives by providing access to the 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 and improve lives. Our hard work, and team work, keeps energy flowing. We do the work that makes the world work.
Vision and Values
Our vision is to provide energy and improve lives, and we back that up with core company values of safety, honor and commitment.
By maintaining strong operating excellence, we are committed to safety, reliability and environmental stewardship while protecting shareholder value.
We are enhancing our portfolio by capturing growth opportunities in Midstream and Chemicals.
A disciplined capital allocation process ensures that we maximize earnings from existing assets and invest capital efficiently.
We are committed to financial strength, disciplined capital allocation, dividend growth and share repurchases.
Our employees are dedicated to building capability, pursuing excellence and doing the right thing.
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.
In the United States, we market gasoline, diesel and aviation fuel through approximately 7,540 independently owned outlets in 48 states. The sites feature the Phillips 66, Conoco or 76 brands.
The Chemicals segment consists of our 50 percent equity investment in CPChem, which is headquartered in The Woodlands, Texas. CPChem owns or has joint venture interests in nearly 30 global manufacturing facilities and two U.S. research and development centers.
We may be known for our by-the-gallon energy but we create all kinds of energy, helping to advance sustainable communities, provide energy and improve lives.
Conoco began as the Continental Oil and Transportation Co., one of the first petroleum marketers in the West, in 1875.
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 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
During World War II, Phillips Petroleum and Conoco made high-octane aviation fuel possible, boosting the power of Allied airplanes.
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.
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
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
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, Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialities businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership (MLP), is integral to the portfolio. Headquartered in Houston, Texas, Phillips 66 has 14,600 employees committed to safety and operating excellence.