@conocophillips.com
ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves.
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About
Description
ConocoPhillips is an American multinational energy corporation headquartered in Houston, Texas, United States. It is one of the largest independent exploration and production (E&P) companies in the world. The company's history can be traced back to 1917 when it was founded as Continental Oil and Transportation Company.
Over the years, it went through various acquisitions, mergers, and name changes before becoming ConocoPhillips in 2002. In 2012, ConocoPhillips separated its downstream assets and created a separate downstream company, Phillips 66. ConocoPhillips focuses on the exploration, production, refining, and marketing of oil, natural gas, and petroleum-based products.
Its upstream operations involve exploration, development, and production of oil and gas reserves globally. The company holds assets in various oil-rich regions, including the United States, Canada, Europe, Asia, Australia, and Latin America. One of the noteworthy subsidiaries of ConocoPhillips is ConocoPhillips Alaska, which operates on Alaska's North Slope and plays a vital role in the state's economy.
In addition, the company has partnerships and joint ventures with major international oil companies, enabling it to access diverse resources and leverage expertise in various regions. ConocoPhillips is known for its strong market position. It ranks among the top global E&P companies in terms of production volumes and reserves.
With a vast portfolio of assets, the company strategically positions itself to withstand market uncertainties and capitalize on long-term growth opportunities. Its competitors include other major oil companies like ExxonMobil, Chevron, and BP. In recent years, ConocoPhillips has focused on optimizing its portfolio by divesting non-core assets and investing in higher-return projects.
The company aims to increase shareholder value through disciplined capital allocation, cost efficiency, and technology advancements. It has also embraced environmental stewardship and aims to reduce greenhouse gas emissions and the environmental impact of its operations. As of the latest available information, ConocoPhillips continues to operate as a leading global E&P company, driving value for its shareholders while adapting to evolving market dynamics
Company Type
Public Company
Company Size
10,001+
Year Founded
2012
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