Page 6 - FINAL Phillips 66 50 Year Book
P. 6
A Brief Global History
Conoco was born in 1875 as the Continental Oil and Transportation
Co., one of the first petroleum marketers in the west. In 1917, brothers,
Frank & L E Phillips founded Phillips Petroleum Company.
The firms prospered and by the 1970s, Conoco had expanded overseas
and Phillips had entered the plastics market. In 1981, DuPont acquired
Conoco in the largest merger in US history at that time. Phillips,
meanwhile, remained as it was despite several takeover attempts. In
July, 1999 Conoco was ‘spun-off’ from DuPont - the largest ever Initial
Public Offering (IPO) at the time.
Conoco and Phillips officially merged in 2002 to become ConocoPhillips
- the sixth largest publicly traded oil company in the world. ConocoPhillips
spun-off its midstream and downstream business to create a publicly
traded company called Phillips 66 on May 1st 2012.
Today Phillips 66 has more than 14,000 employees worldwide
committed to safety and operating excellence and is headquartered in
Houston, Texas.
