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The Biotech Weblog: ConocoPhillips Grants $22.5 Million for Biofuels... biotech-weblog.com |
ConocoPhillips Company (NYSE: COP) is an international energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States.[2] It is also one of the fortune 500 companies.[3] It is the fifth largest private sector energy corporation in the world and is one of the six "supermajor" vertically integrated oil companies. Its fuel stations are known by the Conoco, Phillips 66 and Union 76 brands. ConocoPhillips was created through the merger of Conoco Inc.[4] and the Phillips Petroleum Company on August 30, 2002.
[edit] OverviewConocoPhillips employs approximately 33,800 people worldwide in nearly 40 countries. ConocoPhillips is the second-largest refiner in the United States, with crude oil processing capacity of approximately 2.0 MMBD; and the world’s fourth-largest nongovernment-controlled refiner, with crude oil processing capacity of nearly 2.7 MMBD globally. [edit] History
 [edit] Business units[edit] Tanker FleetsConocoPhillips has several subsidiary oil tanker fleets. [edit] US FlagPolar Tankers is the US Flagged shipping arm of ConocoPhillips. [6] [edit] Endeavour ClassThese vessels were built by Avondale Shipyard, Northrop Grumman Ship Systems in Avondale, LA. They are double hull type tankers of 894.7 ft long and 140,000 DWT
[edit] Foreign Flag[edit] Exploration, Refining & MarketingRecently, Bangladesh granted a string of nine offshore exploration gas blocks in the Bay of Bengal to ConocoPhillips. In February 2008, ConocoPhillips was selected for 8 blocks as a lone bidder. ConocoPhillips operates 19 refineries around the world. In the United States, the company operates Conoco, Phillips 66 and (Union) 76 stations. The 76 brand, long familiar in the western and southern U.S., was created by Union Oil Company of California (later Unocal) in 1932. In Europe, ConocoPhillips operates Jet filling stations in Austria, Belgium, the Czech Republic, Denmark, Finland, Germany, Hungary, Norway, Poland, Slovakia, Sweden and the United Kingdom. The company markets under the ProJET brand name in Malaysia, Turkpetrol in Turkey and COOP in Switzerland.
* Denotes joint ventures. Crude capacity reflects that proportion. [edit] Environmental recordOn April 11, 2007, ConocoPhillips became the first U.S. oil company to join the U.S. Climate Action Partnership, an alliance of big business and environmental groups. The partnership in January 2007 had advised President George W. Bush that mandatory emissions caps would be needed to reduce the flow of carbon dioxide and other heat-trapping gases into the atmosphere. In 2007 ConocoPhillips announced it would spend $150 million that year on the research and development of new energy sources and technologies — a 50 percent increase in spending from 2006.[7] According to the Political Economy Research Institute, ConocoPhillips ranked 13th among U.S. corporate producers of air pollutions. [8] In 2003, ConocoPhillips was named as a defendant in a lawsuit brought by Green Alternative, an environmental group based in the former Soviet republic of Georgia. The suit claimed that a number of foreign oil companies colluded with the Georgia government to induce authorities to approve a $3 billion pipeline without properly evaluating environmental impact.[9] [edit] See also[edit] References
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