Sharmila Mulligan, founder and CEO of ClearStory Data Inc. On November 26, 2012, in its largest acquisition ever, ONGC Videsh agreed to buy ConocoPhillips’ 8.4% stake in the Kashagan oilfield for approximately US$5 billion. Conoco was based in Ponca City until 1949, when it moved to Houston, Texas. There are 789 companies in the Conocophillips Company corporate family.
[18] On May 1, 2012, all midstream, downstream, marketing and chemical operations were separated into a new company named Phillips 66, headquartered in Houston. [26], In November 2016, the company announced the move of its headquarters to Energy Center Four by 2018. [52], Bobby Berk, one of the stars from Netflix’s “Queer Eye,” spoke out against ConocoPhillips' water pollution in Missouri, saying that there were so many chemicals at one point, they could “actually light a glass of our water on fire.”[53]. ConocoPhillips Overview Fact Sheet Interactive Version PDF Version [37][38], In July 2020, the company announced the acquisition of acreage in the Montney Formation in Canada for $75 million. In 1885, Conoco was reincorporated as part of Standard Oil. It is based in the Energy Corridor district of Houston, Texas. The company's production in the United States included production in Alaska, the Eagle Ford Group, the Permian Basin, the Bakken Formation, the Gulf of Mexico and the Anadarko Basin. It is based in the Energy Corridor district of Houston, Texas. On April 11, 2007, ConocoPhillips became the first U.S. oil company to join the U.S. ConocoPhillips is a multinational corporation engaged in hydrocarbon exploration. In 2007, ConocoPhillips announced it would spend $150 million that year on alternative and unconventional energy sources, up from $80 million in 2006.
[23], In 2012, the company began the process of divesting onshore and offshore assets in Nigeria. [31], In August 2017, the company sold its business in the San Juan Basin for $2.5 billion. [36], In May 2020, the company sold its assets in Northern Australia to Santos Limited for $1.39 billion. [5], The Conoco Museum in Ponca City, Oklahoma is dedicated to the history of the company.[6].
[27], In February 2017, Ecuador was ordered to pay $380 million to the company for unlawfully expropriating the company’s oil investments.
[49], In 2015, ConocoPhillips and Phillips 66 agreed to pay $11.5 million to settle a lawsuit alleging that hundreds of their gas stations violated California anti-pollution laws since 2006. [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. The company was a coal, oil, kerosene, grease and candles distributor in the West. The acquisition gave Conoco the red bar-and-triangle logo previously used by Marland.
[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. [39][40], On October 19, 2020, ConocoPhillips announced it will buy Concho Resources for $9.7 bln.
[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. [24], In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion.
In 2013, ConocoPhillips had the “leakiest” methane in operations compared to its peers.
Conocophillips Company is located in Houston, TX, United States and is part of the Oil & Gas Field Services Industry. [22], In May 2012, ConocoPhillips completed the corporate spin-off of its downstream assets as Phillips 66. ConocoPhillips has had a presence in Indonesia for more than 45 years. After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913.
[42], Notable members of the board of directors of the company are as follows:[43]. [54], Media related to ConocoPhillips at Wikimedia Commons, Voluntary Principles on Security and Human Rights, "ConocoPhillips 2019 Form 10-K Annual Report", "Revealed: the 20 firms behind a third of all carbon emissions", "ConocoPhillips and Phillips 66: Corporate Rap Sheet", "This Week in Petroleum History, April 29 – May 5", "Indian OVL to Buy ConocoPhillips's Stake in Kashagan Field", "Phillips/Conoco Merger: Keating fails in effort to keep headquarters", "ConocoPhillips Buys $2 Billion Stake in Lukoil", "ConocoPhillips, Form 8-K, Current Report", "ConocoPhillips Completes Acquisition of Burlington Resources", "ConocoPhillips, Form 10-Q, Quarterly Report", "Phillips 66 Debuts as Advantaged Downstream Company", "Delta CEO Says Airline to Pressure Prices as Jet Fuel Seller", "ConocoPhillips completes spinoff of refining business", "Nigeria: NNPC Vows to Conclude Brass LNG's FID", "Conoco to sell Rocky Mountain assets to Denbury for $1.05 billion", "ConocoPhillips to sell more than $350M in deepwater exploration blocks", "ConocoPhillips to leave headquarters for smaller Energy Corridor location", "Ecuador ordered to pay ConocoPhillips $380 million in damages", "BRIEF-ConocoPhillips to sell Foster Creek Christina Lake Partnership interest, Western Canada Deep Basin Gas assets to Cenovus for $13.3 bln", "ConocoPhillips takes slow, steady route in race for oil profits", "ConocoPhillips to sell Texas shale assets for $305M", "ConocoPhillips closes nearly $2.7B asset sale", "Conoco has seized Venezuela PDVSA products from the Isla refinery: Curacao", "Venezuela must pay Conoco more than $8 billion: World Bank", "ConocoPhillips closes on $350M sale to Timor-Leste", "ConocoPhillips closes nearly $1.4B asset deal", "ConocoPhillips sells northern Australia assets to Santos for $1.39 billion", "ConocoPhillips to buy acreage in Canada from Kelt Exploration", "ConocoPhillips Announces Agreement to Acquire Liquids-Rich Montney Acreage from Kelt Exploration Ltd", "ConocoPhillips to buy Concho Resources for $9.7 bln in 2020's top shale deal", https://www.forbes.com/sites/davidblackmon/2020/10/19/conocophillips-doubles-down-on-the-permian-basin-and-fracking-with-concho-acquisition/#6ace3af328e8, "Oil Giants BP, ConocoPhillips Drop Out of US Climate Action Partnership", "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic", "Drilling on Public Lands: Native American Voices Frustrated by Virtual Public Hearings Over Zoom", "Conoco Offers $23 Million to Settle Contamination Lawsuit", "China oil spill to have long-term impact: report", "ConocoPhillips and Phillips 66 to pay $11.5 million in pollution case", "ConocoPhillips Settles Oklahoma City Water Pollution Lawsuit", "Company to pay $39M to settle contamination claim", "ConocoPhillips Is the Leakiest Gas Company", International Association of Oil & Gas Producers, https://en.wikipedia.org/w/index.php?title=ConocoPhillips&oldid=985082324, Companies listed on the New York Stock Exchange, Multinational companies headquartered in the United States, Non-renewable resource companies established in 2002, Short description is different from Wikidata, All Wikipedia articles written in American English, Official website different in Wikidata and Wikipedia, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Caroline Maury Devine, former president and managing director of a Norwegian affiliate of, Gay Huey Evans, former vice-chairman of Investment Banking at.
[19] As a result, ConocoPhillips continued its operations as an upstream (exploration and production) company. 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. "[12], In September 2004, the company invested $2 billion in Lukoil. ConocoPhillips operated in Nigeria for more than 46 years. [7][11] By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters.
The company has operations in 17 countries and has production in the United States (49% of 2019 production), Norway (10% of 2019 production), Canada (5% of 2019 production), Australia (12% of 2019 production), Timor-Leste, Indonesia (4% of 2019 production), Malaysia (4% of 2019 production), Libya (3% of 2019 production), China (3% of 2019 production), and Qatar (6% of 2019 production). The company currently operates two onshore blocks, the Corridor Block PSC in South Sumatra and the Kualakurun PSC in Central Kalimantan. The ConocoPhillips Overview Fact Sheet provides high-level company information and the Other International & Exploration Fact Sheet covers worldwide exploration activities. Governor of Oklahoma Frank Keating said that the move to Houston was "regrettable.
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. According to the Political Economy Research Institute, ConocoPhillips ranked 13th among U.S. corporate producers of air pollution. This page was last edited on 23 October 2020, at 20:59. In 2016, ConocoPhillips was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. [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.
[29] Along with the sale of natural gas fields in the U.S., it led to a reduction of close to 30% of its proved oil and gas reserves. [44] However, ConocoPhillips left the U.S. [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. [20][21], In April 2012, ConocoPhillips sold its Trainer Refinery to Monroe Energy LLC, a subsidiary of Delta Air Lines.
[41] The purchase will make it the third largest energy company currently operating a substantial presence in the oil rich Permian Basin.
The company is associated with the fossil fuels lobby. Industry Information. In 1875, the Continental Oil and Transportation Company (Conoco) was founded in Ogden, Utah. [10], On August 30, 2002, Conoco Inc. and Phillips Petroleum Company, whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips. 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. By 1929, it had become a fully integrated oil company.[7]. [35], In September 2019, the company sold its business in the United Kingdom for $2.675 billion. [45], ConocoPhillips is a signatory participant of the Voluntary Principles on Security and Human Rights. Climate Action Partnership, an alliance of big business and environmental groups.