ConocoPhillips Splits Into Two Companies

June 2012 Vol. 239 No. 6

ConocoPhillips became into two smaller companies on May 1.ConocoPhillips is now the world’s largest oil exploration and production company while the refineries, chemicals and pipelines were spun off into a new company, Phillips 66. Both companies are headquartered in Houston.

Ryan Lance, is a petroleum engineer who oversaw the corporation’s exploration and production operations, will head the E&P unit and Greg Garland, head of the ConocoPhillip’s Americas exploration and production unit, is CEO of Phillips 66.