conocophillips company information

"[12], In September 2004, the company invested $2 billion in Lukoil.

[31], In August 2017, the company sold its business in the San Juan Basin for $2.5 billion. [13], In March 2006, ConocoPhillips acquired Wilhelmshavener Raffineriegesellschaft mbH, based in Germany. [36], In May 2020, the company sold its assets in Northern Australia to Santos Limited for $1.39 billion. In 2016, ConocoPhillips was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 1929, Conoco merged with the Marland Oil Company.

[8], Marland Oil Company, founded by exploration pioneer E. W. Marland, later acquired the assets of Continental Oil Co.. On June 26, 1899, Marland Oil changed its name to Continental Oil Co. and moved its headquarters to Fargo, North Dakota.

Approximately 1/3 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.

The company was a coal, oil, kerosene, grease and candles distributor in the West. ConocoPhillips Overview Fact Sheet Interactive Version PDF Version ConocoPhillips contracted a French bank, BNP Paribas to sell all assets including a 17% stake in Brass Liquefied Natural Gas LNG, Oil Mining Lease OML 131 in which ConocoPhillips had a 47.5℅ stake. By 1929, it had become a fully integrated oil company.[7]. [29] Along with the sale of natural gas fields in the U.S., it led to a reduction of close to 30% of its proved oil and gas reserves.

[2], As of December 31, 2019, the company had proved reserves of 5,262 million barrels of oil equivalent (3.219×1010 GJ), of which 50% was petroleum, 37% was natural gas, 8% was natural gas liquids and 5% was bitumen. There are 789 companies in the Conocophillips Company corporate family.

[23], In 2012, the company began the process of divesting onshore and offshore assets in Nigeria. [51], In May 2017, ConocoPhillips agreed to a $39 million settlement to resolve complaints brought by New Jersey over groundwater contamination. [44] However, ConocoPhillips left the U.S. [50], In May 2019, ConocoPhillips settled a lawsuit with homeowners in northwestern Oklahoma City who accused the company of polluting their soil and water to such a degree that no trees or flowers will grow. [34], In April 2019, the company sold a 30% stake in the Greater Sunrise Fields to the government of Timor-Leste.

The acquisition gave Conoco the red bar-and-triangle logo previously used by Marland.

ConocoPhillips is a multinational corporation engaged in hydrocarbon exploration. [14] It also acquired Burlington Resources for $35 billion in cash and stock. [45], ConocoPhillips is a signatory participant of the Voluntary Principles on Security and Human Rights.

The civil complaint, filed in January 2013, alleged that the companies violated state laws on the operation and maintenance of underground gasoline storage tanks at more than 560 gas stations in the state.

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