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ConocoPhillips is the third largest integrated energy company in the United States and the fifth largest refiner in the world. The company operates through six segments: Exploration and Production, Refining Marketing and Transportation, Midstream, Chemicals, and Emerging Businesses. The Exploration and Production segment explores for, produces, transports, and markets crude oil, natural gas, and natural gas liquids. The company’s Refining and Marketing segment is comprised of global refining, marketing and transportation of petroleum products and related specialty businesses. The Midstream segment purchases raw natural gas from producers and gathers natural gas through extensive pipeline gathering systems, primarily through a 50% equity investment in DCP Midstream, LLC, a joint venture with Spectra Energy.

ConocoPhillips has several subsidiary oil tanker fleets, including Polar Tankers Inc., the US-flagged shipping arm of ConocoPhillips. The Polar Tankers are Endeavour Class vessels built by Northrop Grumman Ship Systems in Avondale, Louisiana. They are double hull type tankers, 894.7 ft. long. A double hull ship has two complete layers of watertight hull surface on the bottom and sides of the ship, with several feet of space in between the two layers. After the Exxon Valdez oil spill occurred when the single hull ship grounded on Bligh Reef outside the port of Valdez in Alaska in 1989, the US Government required all new oil tankers built for use between US ports to be equipped with a full double hull. A double hull however, does not protect against major, high-energy collisions, or groundings, which typically are the cause of oil spills.

Headquartered in the Energy Corridor district of Houston, Texas, ConocoPhillips was created through the merger of Conoco, Inc. and the Phillips Petroleum Company on August 30, 2002. Before the merger, Conoco, Inc. had its headquarters in what is now the ConocoPhillips headquarters.

The ConocoPhillips Company is listed on the New York Stock Exchange under the symbol “COP”. The company employs approximately 33,800 people worldwide in nearly 40 countries. ConocoPhillips’s 2008 annual revenue was $246.182 billion, and the company had a net loss of $16.998 billion. BP, Chevron, and ExxonMobil are ConocoPhillips’s major competitors.

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