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ConocoPhillips, which spun off its downstream business in 2012, has a market cap of $134 billion compared to Chevron's $291 billion and ExxonMobil's $511 billion.
This large debt caused Phillips Petroleum to begin selling many of its assets, including refineries, and led to the 2002 merger with Conoco. Phillips Petroleum Corp. and Chevron Corp. combined their worldwide chemical businesses in 2000 to form a new company, Chevron Phillips Chemical Corp., LLC. This excluded Chevron's oronite additives, which ...
On August 30, 2002, Conoco Inc. and Phillips Petroleum Company, whose headquarters were in nearby Bartlesville, Oklahoma merged into ConocoPhillips. [ 11 ] [ 15 ] By January 2002, the groups organizing the merger had selected Houston as the site of the headquarters.
Aug. 7—ConocoPhillips had a busy second quarter, progressing on its new Willow Project oilfield in the National Petroleum Reserve on the North Slope of Alaska, its $22.5-billion merger with ...
The rally was due to the merger agreement that was struck on Wednesday with oil and gas giant ConocoPhillips (NYSE: COP), which agreed to acquire Marathon for an enterprise value of $22.5 billion.
In November 2024, it was acquired by ConocoPhillips. Marathon was founded in Lima, Ohio as the Ohio Oil Company. In 1899, the company was acquired by the Standard Oil Company (New Jersey). After the antitrust case against Jersey Standard in 1911 and subsequent breakup of its holdings, Ohio Oil once again became an independent company. In 1930 ...
ConocoPhillips (NYSE: COP) made a splash on May 29 when it announced an all-stock acquisition of Marathon Oil (NYSE: MRO). The purchase price represents a 14.7% premium to the closing price of ...
In 2012, ConocoPhillips divested its refining and marketing business, which included the 76 brand, through the formation of Phillips 66. [ 9 ] In 2016, Saudi Aramco -owned Motiva Enterprises signed a deal with Phillips 66 Company which would allow Motiva to use the 76 brand on some of its stations in its 26 eastern and Gulf Coast states ...
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