ConocoPhillips spins off refinery group, relaunches Phillips 66 name

Wednesday, May 2, 2012 - 20:07
Bartlesville - prairie frontier town
Rex Knepp Houston Energy Industry Examiner
Old 66 sign

Houston's ConocoPhillips, the oil giant formed ten years ago by merging Conoco Inc., with Phillips Petroleum, will spin off its refinery business effective tomorrow, May 1, 2012. ... The upstream company, which will retain the ConocoPhillps name and continue to headquarter in Houston, is the largest independent oil and gas in the US. The refining and distribution company will be named Phillips 66 and will also be headquartered in Houston. ... There is as yet no word about job losses here in Houston or at the former headquarters company towns of Bartlesville (Phillips) and Ponca City (Conoco), Oklahoma.

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