conocophillips company information
[24], In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion. [27], In February 2017, Ecuador was ordered to pay $380 million to the company for unlawfully expropriating the company’s oil investments. [30], In June 2017, the company agreed to sell assets in the Barnett Shale for $305 million. This page was last edited on 23 October 2020, at 20:59. By 1929, it had become a fully integrated oil company.[7]. There are 789 companies in the Conocophillips Company corporate family. [22], In May 2012, ConocoPhillips completed the corporate spin-off of its downstream assets as Phillips 66. [46] In May 2020, it was reported that the company was planning new drillings in Alaska's North Slope which would affect the life of 400 in the Native village of Nuiqsut. [48], In June 2011, ConocoPhillips China Inc., a wholly owned subsidiary of ConocoPhillips, was responsible for the 2011 Bohai bay oil spills in Bohai Bay. [7][11] By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters. Sharmila Mulligan, founder and CEO of ClearStory Data Inc. Climate Action Partnership in February 2010, at the same time as BP and Caterpillar Inc. left the partnership. [23], In 2012, the company began the process of divesting onshore and offshore assets in Nigeria. [41] The purchase will make it the third largest energy company currently operating a substantial presence in the oil rich Permian Basin. [13], In March 2006, ConocoPhillips acquired Wilhelmshavener Raffineriegesellschaft mbH, based in Germany. Conoco was based in Ponca City until 1949, when it moved to Houston, Texas. In 1929, Conoco merged with the Marland Oil Company. ConocoPhillips has had a presence in Indonesia for more than 45 years. [10], On August 30, 2002, Conoco Inc. and Phillips Petroleum Company, whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips. [33], In March 2019, the World Bank ruled that Venezuela must pay ConocoPhillips $8.7 billion to compensate for the 2007 expropriation of oil assets. [8], Marland Oil Company, founded by exploration pioneer E. W. Marland, later acquired the assets of Continental Oil Co.. On June 26, 1899, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Fargo, North Dakota. [50], In May 2019, ConocoPhillips settled a lawsuit with homeowners in northwestern Oklahoma City who accused the company of polluting their soil and water to such a degree that no trees or flowers will grow. ConocoPhillips segment Fact Sheets contain information related to company assets, operations and locations. Conocophillips Company has 8000 total employees across all of its locations and generates $12.97 billion in sales (USD). On April 11, 2007, ConocoPhillips became the first U.S. oil company to join the U.S. In 1885, Conoco was reincorporated as part of Standard Oil. [20][21], In April 2012, ConocoPhillips sold its Trainer Refinery to Monroe Energy LLC, a subsidiary of Delta Air Lines. [36], In May 2020, the company sold its assets in Northern Australia to Santos Limited for $1.39 billion. Climate Action Partnership, an alliance of big business and environmental groups. It is based in the Energy Corridor district of Houston, Texas. These violations included failing to properly maintain leak detection devices, testing secondary containment systems, conducting monthly inspections and training employees in proper protocol. In 2016, ConocoPhillips was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. ConocoPhillips contracted a French bank, BNP Paribas to sell all assets including a 17% stake in Brass Liquefied Natural Gas LNG, Oil Mining Lease OML 131 in which ConocoPhillips had a 47.5℅ stake. ConocoPhillips is a multinational corporation engaged in hydrocarbon exploration. [28], In March 2017, the company agreed to sell its Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus Energy for $13.3 billion. [32], In May 2018, ConocoPhillips seized assets belonging to the Venezuelan state oil company PDVSA from the Isla refinery on Curacao to collect on $2 billion owed since a 2007 court decision. ConocoPhillips operated in Nigeria for more than 46 years. [35], In September 2019, the company sold its business in the United Kingdom for $2.675 billion. [31], In August 2017, the company sold its business in the San Juan Basin for $2.5 billion. The ConocoPhillips Overview Fact Sheet provides high-level company information and the Other International & Exploration Fact Sheet covers worldwide exploration activities. Approximately 1/3 of the company's U.S. production is in Alaska, where it has operations in the Cook Inlet Area, the Alpine oil field off the Colville River, and the Kuparuk oil field and Prudhoe Bay Oil Field on the Alaska North Slope. [2], The company is ranked 93rd on the Fortune 500[3] and 201st on the Forbes Global 2000. [42], Notable members of the board of directors of the company are as follows:[43]. In January 2007, the partnership advised President George W. Bush that mandatory emissions caps would be needed to reduce the flow of carbon dioxide and other greenhouse gases into the atmosphere. [5], The Conoco Museum in Ponca City, Oklahoma is dedicated to the history of the company.[6]. In 1875, the Continental Oil and Transportation Company (Conoco) was founded in Ogden, Utah. Industry Information. [37][38], In July 2020, the company announced the acquisition of acreage in the Montney Formation in Canada for $75 million. Governor of Oklahoma Frank Keating said that the move to Houston was "regrettable. In 2007, ConocoPhillips announced it would spend $150 million that year on alternative and unconventional energy sources, up from $80 million in 2006. The civil complaint, filed in January 2013, alleged that the companies violated state laws on the operation and maintenance of underground gasoline storage tanks at more than 560 gas stations in the state. [25], In July 2016, the company agreed to sell a 35% stake in three Senegalese deepwater oil and gas exploration blocks for about $350 million to Woodside Petroleum. [18] On May 1, 2012, all midstream, downstream, marketing and chemical operations were separated into a new company named Phillips 66, headquartered in Houston. [2], As of December 31, 2019, the company had proved reserves of 5,262 million barrels of oil equivalent (3.219×1010 GJ), of which 50% was petroleum, 37% was natural gas, 8% was natural gas liquids and 5% was bitumen. The company was a coal, oil, kerosene, grease and candles distributor in the West. In 2013, ConocoPhillips had the “leakiest” methane in operations compared to its peers. [47], In 1990, ConocoPhillips agreed to pay $23 million to buy 400 homes and compensate families in Ponca City, Oklahoma, who said its refinery gave them cancer and other illnesses. ConocoPhillips Overview Fact Sheet Interactive Version PDF Version After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913.

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