ConocoPhillips

Description

ConocoPhillips is an American multinational energy company with operations in over 15 countries across the globe.

The Texas-based company is engaged in the production, exploration, marketing and transportation of bitumen, crude oil, natural gas liquid, liquified natural gas (LNG) and natural gas.

The present company was formed in August 2002 following a horizontal merger between Conoco and Phillips Petroleum Co. ConocoPhillips is reportedly one of the largest crude oil producers in Alaska, and largest owner of exploration leases.

The energy company claims to focus on effective and efficient production and exploration of natural gas and crude oil. It conducts business under six operating segments:
• Asia Pacific
• Alaska
• Europe
• Canada
• Middle East
• North Africa
The Alaska segment deals with production, exploration and transportation of conventional energy resources like crude oil, natural gas and LNG in the region. The energy company also owns North America’s two significant oil fields in the north slope region of Alaska, namely Kuparuk and Prudhoe Bay.

In January 2020, ConocoPhillips acquired Concho Resources and created a $60 billion company with a resource base of 23 billion barrels of oil equivalent.

The company’s license liquified natural gas projects include:
• Kenai LNG
• Egyptian LNG
• Angola LNG
• Queensland Curtis LNG
• GLNG
• Weatstone LNG

The Texas-based company has equity ownership in regasification and LNG liquefication project with Australia Pacific LNG, Darwin LNG, Qatargas 3, etc. The energy company claims to be the pioneer in using gas turbine technology for refrigerant compressor.

The oil and gas company operates through various subsidiaries, including:
• Concho Resources
• ConocoPhillips Canada Ltd
• Polar Tankers Inc
• Conoco Phillips Ltd
• Gulf Canada
• Conoco Phillip Qatar Ltd
• Darwin LNG Pty Ltd
• ConocoPhillips Austria GmbH

The company aims to provide affordable energy by focusing on ESG norms and sustainability and generate superior returns on the capital. In addition, it aims to become a global leader in the LNG technology.