This big company finds oil.
They work in many lands. They find oil and gas. This helps make things we use. It is a very large group.
Do you know where oil comes from?
ConocoPhillips is a very large company.
It looks for oil and gas. It works in 15 different lands. Some of these lands are far away.
They find things like oil and gas. These help make many items. A man named Isaac Blake started it long ago. Now the company is in Houston, Texas. It is a very big group of workers.
ConocoPhillips is a very large company.
It finds and makes energy. This includes oil and natural gas. The company is based in Houston, Texas.
It works in 15 different countries. Most of its work is in the United States. It also works in Norway and Australia. It has work in Canada and Indonesia too.
A man named Isaac Blake started it. He founded the Continental Oil Company in 1875. Later, Conoco and Phillips Petroleum merged. This merger happened in 2002. Now, the company is called ConocoPhillips.
The company finds different types of fuel. It finds petroleum and natural gas. It also finds bitumen. Bitumen is a thick, dark substance. The company also finds natural gas liquids.
ConocoPhillips is a very big business. It is ranked 75th on the Fortune 500 list. It is also a very large public company. In 2024, it bought Marathon Oil. This was a very big deal. The cost was $22.5 billion. The company has many workers around the world.
ConocoPhillips is a very large American company.
It works to find and produce energy for the world. This energy includes crude oil and natural gas. The company also finds natural gas liquids and bitumen. Bitumen is a very thick substance. ConocoPhillips is based in the Energy Corridor in Houston, Texas. It is a major part of the global energy business.
Finding energy is a big job with many steps. First, the company explores for resources in different places. They look deep underground or under the ocean. Once they find energy, they must produce it. This means getting the oil or gas out of the ground. Then, they transport and market these fuels to others. They use six different groups to manage these jobs. These groups cover places like Alaska and the Asia Pacific.
The company has a very long history. It began in 1875 in Ogden, Utah. A man named Isaac Blake founded the Continental Oil and Transportation Company. He called it "Conoco." Later, Conoco merged with the Marland Oil Company in 1929. In 2002, Conoco and Phillips Petroleum merged together. This big merger created the ConocoPhillips we know today. The new company chose Houston as its home.
ConocoPhillips works in 15 different countries. Much of its work happens in the United States. In 2019, 49% of its production was in the U.S. Other production came from Australia and Norway. For example, Australia provided 12% of its production in 2019. Norway provided 10% during that same year. In 2024, the company made a huge purchase. It bought Marathon Oil for $22.5 billion.
You might see these fuels in your daily life. The oil and gas they find help power many things. For example, they help provide energy for homes and cars. The company is very large and holds many rankings. It was ranked 75th on the Fortune 500 list. It was also the 83rd-largest public company in 2023. These numbers show how much the company affects the world.
ConocoPhillips is a large American multinational corporation. It focuses on hydrocarbon exploration and production. This means the company searches for and extracts energy resources like oil and gas. These resources are called hydrocarbons. The company is headquartered in the Energy Corridor district of Houston, Texas.
It plays a major role in the global energy market. The company manages its work through six distinct geographic segments. These include Alaska, the Lower 48 states, Canada, Europe, Middle East and North Africa, Asia Pacific, and other international areas.
The company's operations involve a complex process of finding and moving energy. First, they engage in exploration to locate resources deep underground or under the sea. Once located, they move to the production stage. This is the process of extracting the raw materials from the earth. The company also handles the transport and marketing of these fuels. They deal with several different types of resources. These include crude oil, natural gas, natural gas liquids, and bitumen. Bitumen is a very thick, heavy form of petroleum. They also manage liquefied natural gas, which is gas cooled into a liquid state for easier transport.
ConocoPhillips operates in 15 different countries around the world. In 2019, the United States was its largest source of production at 49%. Other significant production areas included Australia at 12% and Norway at 10%. Qatar accounted for 6% of production that year. Canada provided 5%, while Indonesia and Malaysia each provided 4%. Libya and China each contributed 3%. The company's U.S. work is spread across many locations. These include the Alaska North Slope, the Permian Basin, and the Gulf of Mexico. In Alaska, they operate in the Cook Inlet Area and the Alpine oil field. They also work in the Kuparuk and Prudhoe Bay oil fields.
The history of the company began in 1875.
Isaac Blake founded the Continental Oil and Transportation Company in Ogden, Utah. This company used the acronym "Conoco." In 1885, Conoco became part of Standard Oil. After the Supreme Court dissolved Standard Oil, Conoco became an independent company in 1913. By 1929, it was a fully integrated oil company. That same year, Conoco merged with the Marland Oil Company. Marland Oil had been founded by an exploration pioneer named E. W. Marland. In 2002, a massive merger occurred. Conoco Inc. and Phillips Petroleum Company joined to form ConocoPhillips. This merger allowed the new company to handle massive projects involving remote natural gas.
Financial scale is a major part of the company's identity. ConocoPhillips has held high rankings on several global lists. It was ranked 75th on the Fortune 500 list. In 2023, the Forbes Global 2000 ranked it as the 83rd-largest public company in the world. The company engages in very large financial transactions. In 2006, it bought Burlington Resources for $35 billion. In 2024, it completed a massive $22.5 billion transaction to acquire Marathon Oil. These large numbers show the massive amount of capital involved in global energy production.
There are also significant environmental and legal aspects to its work. In 2019, The Guardian ranked the company as the 14th most polluting company in the world. From 1988 to 2015, the company was responsible for 0.91% of global industrial greenhouse gas emissions. The company has also been involved in many legal disputes. In 2017, Ecuador was ordered to pay the company $380 million for unlawful expropriation. In 2019, the World Bank ruled that Venezuela must pay the company $8.7 billion. These events show how the energy industry interacts with international law and the environment.
ConocoPhillips continues to expand and change its business model. In 2012, the company underwent a major corporate change. It separated its downstream and midstream businesses into a new company called Phillips 66. This allowed ConocoPhillips to focus solely on upstream operations. Upstream refers to the exploration and production side of the business. Today, the company continues to buy and sell assets globally. They recently agreed to a deal to supply 10 billion cubic metres of natural gas to Uniper. This deal will last for 10 years and serve the northwestern European zone.
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