"ConocoPhillips is an international, integrated energy company. It is the third largest integrated energy company in the United States, based on market capitalization, oil and gas proved reserves and production; and the largest refiner in the United States. Worldwide, of non-government controlled companies, ConocoPhillips has the eighth largest total of proved reserves and is the fourth largest refiner in the world. ConocoPhillips is world renowned for its technological expertise in deepwater exploration and production, reservoir management and exploitation, 3-D seismic technology, high-grade petroleum coke upgrading and sulfur removal.
The company has four core activities worldwide: petroleum exploration and production, petroleum refining, marketing, supply, and transportation. The company has investments in natural gas gathering, processing and marketing, and a 30.3 percent interest in Duke Energy Field Services, LLC. In addition, the company has chemicals and plastic production and distribution through a 50 percent interest in Chevron Phillips Chemical Company LLC.
Finally, the company is investing in several emerging businesses in fuels technology, gas-to-liquids, power generation, and emerging technologies that provide current and potential future growth opportunities" (ConocoPhillips, 2004)
Product and Services
ConocoPhillips explores for and produces crude oil, natural gas and natural gas liquids on a worldwide basis. Refining and marketing refines crude oil, markets, and transports petroleum products. Products and services provided by ChevronTexaco are the following: additives, aviation, chemicals, fuels, lubricants, marine, power services, specialty products, and technology and energy services.
Midstream consists of ConocoPhillips' 30.3 percent interest in Duke Energy Field Services, (DEFS), as well as certain ConocoPhillips assets in the United States, Canada and Trinidad. Midstream gathers natural gas, extracts and sells the natural gas liquids (NGL) and sells the remaining (residue) gas (ConocoPhillips, 2004). EFS' strengths include assets in major gas-producing regions; efficient, reliable low-cost operations; and critical mass for growth transactions. DEFS' customers are...