Related Articles
Forward article link
Share PDF with colleagues

Corporate adapter

ConocoPhillips has reinvented itself again, exiting deep-water exploration and betting on flexible US production

Four years ago, when ConocoPhillips spun off its downstream businesses, the logic was shareholder value. The transaction created Phillips 66, the new owner of the group’s refineries, pipelines and chemicals businesses – and the US’s largest refining company, with 14 refineries and throughput capacity of 2.2m barrels a day. And it left behind the world’s largest independent exploration and production firm by reserves and production. Chairman and chief executive Ryan Lance said the new-look E&P company’s “unmatched size, scope and capability” provided a platform for profitable growth, strong financial returns and a sector-leading dividend. Lance hadn’t anticipated the depth and length of

Also in this section
Dana Gas - 'We went in with our eyes open'
24 May 2017
Dana Gas has struggled to get paid for its work. Yet its chief executive still thinks gas in the Middle East will thrive
PCG—growing into a dynamic future
12 May 2017
PCG charts future growth through petrochemical projects in PIC
Saudi Aramco's shifting strategy
11 May 2017
Saudi Aramco has big plans for expanding its refining capacity and it won’t let oil-price volatility stand in the way, Abdulaziz Judaimi, the company's downstream vice president, says