ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
The company has operations in 15 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), 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'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. Approximately one-third 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]
As of December 31, 2023, the company had proved reserves of 6758 e6BOE, of which 46% was petroleum, 34% was natural gas, 14% was natural gas liquids and 6% was bitumen.[2]
The company is ranked 75th on the Fortune 500.[3][4] In 2021, the company was ranked 156th.[3] In the 2023 Forbes Global 2000, ConocoPhillips was ranked as the 83rd-largest public company in the world.[5] ConocoPhillips also ranked 207th on Forbes Best Employers for Diversity (2021), 125th on Forbes America's Best Employers (2021) and 76 on Forbes Canada's Best Employers (2021).[6]
The company was ranked as the 14th most polluting company in the world by The Guardian in 2019.[7] It is responsible for 0.91% of global industrial greenhouse gas emissions from 1988 to 2015.[8]
History
1875 to January 1993
In 1875, the "Continental Oil and Transportation Company" (acronym "Conoco") was founded in Ogden, Utah by Isaac Blake.[9] In 1885, Conoco was reincorporated as part of Standard Oil.[10] After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913.[11]
By 1929, it had become a fully integrated oil company.[12] The company was a coal, oil, kerosene, grease and candles distributor in the West.
Operations
ConocoPhillips explores for, produces, transports and markets crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis.[76] The company manages its operations through six operating segments, defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.[77]
Governance
Leadership
Current board of directors
- Charles Bunch, CEO and chairman of PPG Industries
- Caroline Maury Devine, former president and managing director of a Norwegian affiliate of ExxonMobil
- John V. Faraci, former CEO and chairman of International Paper Company
- Jody Freeman, Archibald Cox Professor of Law at Harvard Law School
- Gay Huey Evans, chairman, London Metal Exchange
- Jeffrey A. Joerres, Former Executive Chairman and chief executive officer, ManpowerGroup
Environmental record
On 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. 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. In 2007, ConocoPhillips announced it would spend $150 million that year on alternative and unconventional energy sources, up from $80 million in 2006.[79] However, ConocoPhillips left the U.S. Climate Action Partnership in February 2010, at the same time as BP and Caterpillar Inc. left the partnership.[80]
ConocoPhillips is a signatory participant of the Voluntary Principles on Security and Human Rights. In 2016, ConocoPhillips was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.[81] 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
External links
References
- 1909-1875 | History on ConocoPhillips^
- ConocoPhillips 2024 Form 10-K Annual Report U.S. Securities and Exchange Commission, February 18, 2025^
- ConocoPhillips Fortune^