Introduction
In this blog post we will be going over ConocoPhillips business model. We will look at what exactly ConocoPhillips is, what it offers and the benefits and drawbacks of what they offer. We will also go over their future plans for the company.
ConocoPhillips Business Model
The business model is a plan for how a company makes, delivers, and captures value. There are four main aspects of the business model:
- How it makes money (e.g., selling products)
- How it delivers on this value proposition (e.g., through its supply chain)
- How it captures value (e.g., by charging customers more than the cost of providing that good or service)
What is ConocoPhillips?
ConocoPhillips is an American multinational energy corporation. It was established on November 16, 2002 as a spinoff of Conoco Inc., and is headquartered in the Energy Corridor area of Houston, Texas. ConocoPhillips includes the former Conoco and Phillips 66 business units, which were created through combining independent refineries to gain scale advantages compared to competitors. Most of the former assets of DuPont’s businesses have been spun off into a separate company named Chemours Co., with only some assets remaining with DuPont.[2]
The company has over 15 thousand employees working in more than 60 countries around the world. It operates four major businesses: E&P (exploration and production), Gas & Power Marketing, Chemicals & Refined Products, Lubricants & Specialties Marketing
What ConocoPhillips Offers?
ConocoPhillips is a leading energy producers around the world, with a diversified portfolio of exploration and production; midstream, marketing and chemicals; and producing assets in North America, Europe, Africa and the Middle East.
What are the benefits of ConocoPhillips?
ConocoPhillips is a leading energy producer with operations in more than 20 countries and $70 billion in revenues. Based in Houston, Texas, ConocoPhillips has approximately 16,000 employees worldwide.
For many years, ConocoPhillips has been recognized as one of the top companies to work for by FORTUNE magazine. In fact, it was recently named one of the “100 Best Companies to Work For” by Fortune magazine for 13 consecutive years!
What are the drawbacks of ConocoPhillips?
ConocoPhillips is a leading energy producer around the world, but it’s not without drawbacks.
- The company has been involved in several environmental lawsuits. In 2009, ConocoPhillips was ordered to pay $100 million for causing serious water pollution at Montana oil refineries (Montana DEQ). In 2011, a jury awarded $5 million in damages against ConocoPhillips for illegal discharge of hazardous substances at its refinery in Wyoming (Wyoming DEQ). And in 2013, an appeals court upheld a $12 million civil penalty against ConocoPhillips for discharging waste into Lake Michigan near Chicago (US District Court for Northern District of Illinois).
- However, there’s good news! Since these incidents happened several years ago and since then the company has made efforts to improve its environmental record. This will be discussed further on page 10.
Future Plans for ConocoPhillips?
ConocoPhillips is a Fortune 500 company and one of the largest integrated energy companies in the world. It operates in three segments: exploration and production, refining and marketing, and midstream and chemicals. ConocoPhillips owns 15 refineries with a total capacity of 2 million barrels per day (bpd) which is more than any other U.S.-based independent oil company worldwide.
The company’s refining network includes 14 refineries located across North America that process heavy sour crude oils into high-value products such as transportation fuels. The bulk of these products are sold to traditional customers such as gasoline service stations, commercial end users, industrial customers and others that consume finished petroleum products directly or indirectly through downstream businesses such as retail chains or convenience stores
ConocoPhillips is a leading energy producers around the world.
ConocoPhillips is a leading energy producer around the world. The company was founded in 2002, after Conoco and Phillips agreed to merge their assets. If you’re going to work for ConocoPhillips, you’ll be joining an innovative company with a great business model.
Conclusion
These are just a few of the benefits provided by ConocoPhillips. As you can see, there is plenty to offer for both companies and consumers alike. With this in mind, it’s no wonder why so many people are choosing to work with Conoco Phillips today.
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