Repositioning: the Future Takes Shape
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2019 Annual Report Are Commission-Free
Table of Contents 1 Letter to Our Shareholders 4 Financial Highlights 6 Our Businesses Midstream Chemicals Refining Marketing and Specialties 7 Our Value Chain 8 Our Strategy Operating Excellence Growth Returns Distributions High-Performing Organization 28 Board of Directors 30 Executive Leadership Team 31 Non-GAAP Reconciliations 32 Form 10-K | ON THE COVER AND TABLE OF CONTENTS Lake Charles Refinery WESTLAKE, LA In 2019, Lake Charles Manufacturing Complex achieved a sustained safety record of more than 55 months, equivalent to 7.5 million safe work hours. 2019 PHILLIPS 66 ANNUAL REPORT 1 To Our Shareholders We have the right strategy in place to create shareholder value, and our employees are executing it well. Phillips 66 achieved 34% total shareholder return during 2019, which exceeded our peer group average and the S&P 100. In 2019, we delivered earnings of $3.1 billion and earnings per share of $6.77. Adjusted earnings were $3.7 billion or $8.05 per share. During the year, we generated $4.8 billion of operating cash flow. We reinvested $3.9 billionback into the business and returned $3.2 billion of capital to shareholders through dividends and share repurchases. We increased our quarterly dividend 12.5% and announced a $3 billion increase to our share repurchase program. Since our formation, we have returned $26 billion to shareholders through dividends, share repurchases and exchanges, reducing our initial shares outstanding by 33%. Operating excellence is our No. 1 priority and core to everything we do. Our goal is zero incidents, zero accidents and zero injuries. We believe this is attainable, and we strive for it daily. -
Report Document
VRP Sites as of August 13, 2015 Status VRP_No. Site_Name Volunteer Location Acceptance DatePRA_Date RA_Date LA Type_Site Contaminant IC PM Closed 1001 Rail siding and Big Horn 12/11/00 3/26/02 3/26/02 NFA Letter VRP Petroleum No Not coal load out area Coal 4/26/02; hydrocarbons, applicable Company area metals released from LQD bond Open 1002 Powder River Powder River 1095 West 1/8/01 10/17/01 10/01/07 Certificate of VRP Oil, diesel No Jaymee Energy Sheridan Energy Brundage (Tracts 8, 9, Completion Binion Site Corporation Lane, & 10 only), for Tracts 8, Sheridan, 5/18/09 9, and 10 on 82801 (Tracts 6 & 7 5/8/09 only) Open 1003 Former Conoco Phillips 66 Located 1/2 3/19/01; Approved VRP Petroleum No Sarah Glenrock Refinery Company mile west of 6/28/2011 5/13/02; refinery related Bargsten Glenrock amended amended contaminants South 9/19/02 property additional 54 acres Open 1004 Cheyenne Crude Suncor 199 South 4/4/01 5/30/06 VRP Petroleum No Ben Luckey Station Energy USA, Morrie Av, hydrocarbons formerly Cheyenne Conoco Inc. Open 1005 Union Pacific Former 543 West 4/4/01 7/31/03 1/3/05 VRP Petroleum No Sarah Railroad Chicago and Midwest Av, Hydrocarbons Bargsten North Casper Western Casper Rail Yard Open 1006 Laramie Yard Union Pacific Near 4/4/01 7/09/04 VRP Petroleum No Cindi Fueling Platform Railroad intersection Hydrocarbons Martinez of Railroad and University St., Laramie Yard Page 1 of 29 Status VRP_No. Site_Name Volunteer Location Acceptance DatePRA_Date RA_Date LA Type_Site Contaminant IC PM Closed 1007 Gulley Enterprises Cheyenne 411 E. -
Women Led the Legal Departments of Some of the Best-Performing
FORTUNE 500 MCCA® LIST OF WOMEN GENERAL COUNSEL AT FORTUNE 500 COMPANIES (continued) MCCA® LIST OF WOMEN GENERAL COUNSEL AT FORTUNE 500 COMPANIES (continued) 2010 2009 Grouped 2010 2009 Grouped Company General Counsel Industry Company General Counsel Industry Rank Rank by Industry Rank Rank by Industry Gap Michelle Banks 162 178 Specialty Retailers E Starbucks Paula Boggs 241 261 Food Services J Goldman Sachs Group Esta Stecher³ 39 40 Commercial Banks F SunGard Data Systems Victoria Silbey 380 435 Information Technology Services A Health Net Angelee Bouchard² 146 165 Healthcare: Insurance and Managed Care I Sunoco Stacy L. Fox¹ 78 41 Petroleum Refining C Holly Denise McWatters 431 420 Petroleum Refining C Thrivent Financial for Lutherans Teresa Rasmussen 342 409 Insurance: Life, Health (Mutual) B Honeywell International Katherine Adams 74 63 Aerospace and Defense R TJX Ann McCauley 119 131 Specialty Retailers E Host Hotels & Resorts Elizabeth Abdoo 492 449 Hotels, Casinos, Resorts N TRW Automotive Holdings Robin Walker-Lee¹ 201 169 Motor Vehicles and Parts K International Paper Maura Abeln-Smith 104 97 Forest and Paper Products P Unisys Nancy Sundheim 452 456 Miscellaneous Z J.C. Penney Janet Dhillon 133 139 General Merchandisers E United Parcel Service Teri Plummer-McClure 43 43 Mail, Package, and Freight Delivery T Kindred Healthcare M. Suzanne Riedman 477 538 Healthcare: Medical Facilities I Valero Energy Kim Bowers 26 10 Petroleum Refining C Liberty Global Elizabeth Markowski 210 257 Telecommunications H VF Candace Cummings 310 335 -
NEW YORK ------X CITY of NEW YORK, : : Plaintiff, : No
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK ---------------------------------X CITY OF NEW YORK, : : Plaintiff, : No. 18 Civ. 182 (JFK) -against- : : OPINION & ORDER BP P.L.C., CHEVRON CORPORATION, : CONOCOPHILLIPS, : EXXON MOBIL CORPORATION, : and ROYAL DUTCH SHELL, PC, : : Defendants. : ---------------------------------X APPEARANCES FOR PLAINTIFF CITY OF NEW YORK: Zachary W. Carter Susan E. Amron Kathleen C. Schmid Margaret C. Holden Noah Kazis CORPORATION COUNSEL OF THE CITY OF NEW YORK Steve W. Berman Matthew F. Pawa Benjamin A. Krass Wesley Kelman HAGENS BERMAN SOBOL SHAPIRO LLP Christopher A. Seeger Stephen A. Weiss Diogenes P. Kekatos SEEGER WEISS LLP FOR DEFENDANT CHEVRON CORPORATION: Caitlin J. Halligan Andrea E. Neuman Anne Champion Theodore J. Boutrous, Jr. William E. Thomson Joshua S. Lipshitz GIBSON, DUNN & CRUTCHER LLP Herbert J. Stern Joel M. Silverstein STERN & KILCULLEN, LLC Neal S. Manne Johnny W. Carter Erica Harris Steven Shepard Laranda Walker Kemper Diehl Michael Adamson SUSMAN GODFREY LLP FOR DEFENDANT EXXON MOBIL CORPORATION: Theodore V. Wells, Jr. Daniel J. Toal Jaren Janghorbani PAUL, WEISS, RIFKIND, WHARTON & GARRISON, LLP M. Randall Oppenheimer Dawn Sestito O’MELVENY & MYERS LLP Patrick J. Conlon EXXON MOBIL CORPORATION FOR DEFENDANT CONOCOPHILLIPS: John F. Savarese Jeffrey M. Wintner Ben M. Germana Johnathan Siegel WACHTELL, LIPTON, ROSEN & KATZ Tracie J. Renfroe Carol M. Wood KING & SPALDING LLP JOHN F. KEENAN, United States District Judge: Before the Court is a motion by Defendants Chevron Corporation (“Chevron”), ConocoPhillips, and Exxon Mobil Corporation (“Exxon”) (together, the “U.S.-based Defendants”) to dismiss Plaintiff City of New York’s (the “City”) amended complaint under Federal Rules of Civil Procedure 12(b)(1) and 12(b)(6). -
Sustainable Jet Fuel for Aviation
Sustainable jet fuel for aviation Nordic perpectives on the use of advanced sustainable jet fuel for aviation Sustainable jet fuel for aviation Nordic perpectives on the use of advanced sustainable jet fuel for aviation Erik C. Wormslev, Jakob Louis Pedersen, Christian Eriksen, Rasmus Bugge, Nicolaj Skou, Camilla Tang, Toke Liengaard, Ras- mus Schnoor Hansen, Johannes Momme Eberhardt, Marie Katrine Rasch, Jonas Höglund, Ronja Beijer Englund, Judit Sandquist, Berta Matas Güell, Jens Jacob Kielland Haug, Päivi Luoma, Tiina Pursula and Marika Bröckl TemaNord 2016:538 Sustainable jet fuel for aviation Nordic perpectives on the use of advanced sustainable jet fuel for aviation Erik C. Wormslev, Jakob Louis Pedersen, Christian Eriksen, Rasmus Bugge, Nicolaj Skou, Camilla Tang, Toke Liengaard, Rasmus Schnoor Hansen, Johannes Momme Eberhardt, Marie Katrine Rasch, Jonas Höglund, Ronja Beijer Englund, Judit Sandquist, Berta Matas Güell, Jens Jacob Kielland Haug, Päivi Luoma, Tiina Pursula and Marika Bröckl ISBN 978-92-893-4661-0 (PRINT) ISBN 978-92-893-4662-7 (PDF) ISBN 978-92-893-4663-4 (EPUB) http://dx.doi.org/10.6027/TN2016-538 TemaNord 2016:538 ISSN 0908-6692 © Nordic Council of Ministers 2016 Layout: Hanne Lebech Cover photo: Scanpix Print: Rosendahls-Schultz Grafisk Copies: 100 Printed in Denmark This publication has been published with financial support by the Nordic Council of Ministers. However, the contents of this publication do not necessarily reflect the views, policies or recom- mendations of the Nordic Council of Ministers. www.norden.org/nordpub Nordic co-operation Nordic co-operation is one of the world’s most extensive forms of regional collaboration, involv- ing Denmark, Finland, Iceland, Norway, Sweden, and the Faroe Islands, Greenland, and Åland. -
2020 Fact Book 2 Our Businesses Our Strategy Midstream Chemicals Refining Marketing and Specialties Energy Research & Innovation Global Asset Map General Information
Cover Photo: Taft Storage Facility at Gray Oak Pipeline TAFT, TX Contents 3 4 5 OUR BUSINESSES OUR STRATEGY MIDSTREAM Ferndale Ferndale Rail Terminal* Renton North Spokane Tacoma (MT) Yellowstone Cut Bank Moses Lake Thompson 17Falls Rail 24 14 Spokane Terminal Palermo* UROPE DLE EA Portland D Great Falls E I ST Portland (MT) Missoula Rail Terminal M Yello Glacier Sacagawea* Missoula wsto Helena Roundup Keene CDP* ne Billings Crude* Bozeman Billings Billings Humber SPCo & S-Chem ooth Sheridan* Semino Bakk Beart en Bayway MiRO CHEMICALS REFINING * MARKETING AND SPECIALTIES Bighorn e* Linden* Q-Chem I & II Casper* Tremley Pt. (MT)* * Po Rock Springs wd Bayway Rail eminoe er Ri Terminal* S Harbor Red Line Oil North Salt Lake Pioneer ve Des Moines s r Sacramento Rockies Expr Hartford Lincoln ess Line 20 ess Richmond (MT) Rockies Expr San Francisco Denver Borg Conway Kansas City* Po 0 Rockies Expres to Wichita wd Paola er-Den Gold Line* Wood River er Riv Wichita N.* Products* HeartlandPaola* Blue Line 0 Wichita S.* E. St. ver Jeerson City* Junction er Louis* Southern Hills* m Cherokee North* r*Hartford* Line 30 re Line 40 ol Standish* La Junta * h Ponca City* Explo his Ponca City ld Line C Crude* Go 0 Los Angeles Medford* eeMount Vernon* ok t Los Angeles Borger CherEas Torrance Cherokee Colton Borger to Amarillo* Blue LineSouth* Glenpool* Ponca Selmer Line O* * CushPo* Albuquerque* K PL Sk AC ATA Line* elly ST Cushing City SA Oklahoma City* Amarillo* -Belvieu Los Angeles AL Borger Oklahoma Crude* * Explor Wichita Falls* Lubbock* Savannah North -
Bakken Production Optimization Program Prospectus
Bakken Production Optimization Program BAKKEN PRODUCTION OPTIMIZATION PROGRAM 2.0 PROSPECTUS PROGRAM INTRODUCTION Led by the Energy & Environmental Research Center (EERC), the highly successful Bakken Production Optimization Program (BPOP), funded by its members and the North Dakota Industrial Commission, is continuing for the time frame of 2017–2020. The goal of this research program, BPOP 2.0, is to improve Bakken system oil recovery and reduce its environmental footprint. The results of the 3-year program will increase well productivity and the economic output of North Dakota’s oil and gas resources, decrease environmental impacts of wellsite operations, and reduce demand for infrastructure construction and maintenance. BPOP 1.0 PARTNERS A premier partnership program was recently completed which has been cited as an exemplary model by others nationwide. It has demonstrated that state lawmakers, state regulators, and industry can work together for positive results for shareholders and taxpayers alike. Phase I partners focused research on industry-driven challenges and opportunities. Continental Resources, Inc. ® Marathon Oil Corporation America’s Oil Champion Whiting Petroleum Corporation North Dakota Oil and Gas Research Program ConocoPhillips Company Nuverra Environmental Solutions Hitachi Hess Corporation Oasis Petroleum, Inc. SM Energy XTO Energy, Inc. BPOP 1.0 ACHIEVEMENTS (2013–2016) Continental’s Hawkinson Project Water Use and Handling Forecast Aimed at significantly increasing total production and A summary of trends in the Bakken, an estimation of production rates from North Dakota oil wells where oil future demand/disposal needs, an overview of treatment reserves of the second and third benches of the Three technologies, recycling/reuse considerations, and a Forks Formation, located just below the Bakken oil summary of implications for BPOP partners were created. -
Climate and Energy Benchmark in Oil and Gas Insights Report
Climate and Energy Benchmark in Oil and Gas Insights Report Partners XxxxContents Introduction 3 Five key findings 5 Key finding 1: Staying within 1.5°C means companies must 6 keep oil and gas in the ground Key finding 2: Smoke and mirrors: companies are deflecting 8 attention from their inaction and ineffective climate strategies Key finding 3: Greatest contributors to climate change show 11 limited recognition of emissions responsibility through targets and planning Key finding 4: Empty promises: companies’ capital 12 expenditure in low-carbon technologies not nearly enough Key finding 5:National oil companies: big emissions, 16 little transparency, virtually no accountability Ranking 19 Module Summaries 25 Module 1: Targets 25 Module 2: Material Investment 28 Module 3: Intangible Investment 31 Module 4: Sold Products 32 Module 5: Management 34 Module 6: Supplier Engagement 37 Module 7: Client Engagement 39 Module 8: Policy Engagement 41 Module 9: Business Model 43 CLIMATE AND ENERGY BENCHMARK IN OIL AND GAS - INSIGHTS REPORT 2 Introduction Our world needs a major decarbonisation and energy transformation to WBA’s Climate and Energy Benchmark measures and ranks the world’s prevent the climate crisis we’re facing and meet the Paris Agreement goal 100 most influential oil and gas companies on their low-carbon transition. of limiting global warming to 1.5°C. Without urgent climate action, we will The Oil and Gas Benchmark is the first comprehensive assessment experience more extreme weather events, rising sea levels and immense of companies in the oil and gas sector using the International Energy negative impacts on ecosystems. -
Tallgrass Energy Partners, LP 2016 Annual Report
ENERGY PARTNERS 2016 ANNUAL REPORT About Tallgrass Energy Partners, LP Tallgrass Energy Partners, LP (NYSE: TEP) is a publicly traded, growth-oriented limited partnership formed to own, operate, acquire and develop midstream energy assets in North America. TEP’s operations are located in and provide services to certain key United States hydrocarbon basins, including the Denver-Julesburg, Powder River, Wind River, Permian and Hugoton-Anadarko Basins and the Niobrara, Mississippi Lime, Eagle Ford, Bakken, Marcellus, and Utica shale formations. TEP currently provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions through the Pony Express System, a crude oil pipeline commencing in Guernsey, Wyoming and terminating in Cushing, Oklahoma, which includes a lateral in Northeast Colorado commencing in Weld County, Colorado, and interconnecting with the pipeline just east of Sterling, Colorado. TEP also provides crude oil storage and terminalling services, including crude oil terminals near Sterling, Colorado and in Weld County, Colorado, and a 20 percent interest in Deeprock Development, LLC, which owns a crude oil terminal in Cushing, Oklahoma. TEP provides natural gas transportation and storage services for customers in the Rocky Mountain, Midwest and Appalachian regions of the United States through its 25 percent interest in the Rockies Express Pipeline, a FERC-regulated natural gas pipeline system extending from Opal, Wyoming and Meeker, Colorado to Clarington, Ohio, the Tallgrass Interstate Gas Transmission system, a FERC-regulated natural gas transportation and storage system located in Colorado, Kansas, Missouri, Nebraska and Wyoming, and the Trailblazer Pipeline system, a FERC-regulated natural gas pipeline system extending from the Colorado and Wyoming border to Beatrice, Nebraska. -
Fortune 500® Partners List (As of October 29, 2018) This List Represents Green Power Partners That Also Appear on the Fortune 500® List
Fortune 500® Partners List (as of October 29, 2018) This list represents Green Power Partners that also appear on the Fortune 500® list. EPA's list of Fortune 500 Partners consists of 76 companies using nearly 26 billion kilowatt-hours (kWh) of green power annually, which is equivalent to the electricity use of nearly 2.4 million average American homes. Partner Name Annual GP % of Organization Providers (listed in Green Green Total Type descending order by Power Power Electricity kWh supplied to Partner) Resources Usage Use* (kWh) 1. Microsoft 4,557,278,000 100% Technology & Sterling Planet°, Enbridge Solar, Wind Corporation Telecom LLC, EDF Renewable Energy, Black Hills Corp., Renewable Choice Energy°, Self-supply 2. Intel Corporation 4,152,034,623 100% Technology & Renewable Choice Energy°, Various Telecom 3Degrees°, Unknown, PNM, Self-supply 3. Google Inc. 2,409,051,735 53% Technology & MidAmerican Energy°, Biogas, Small- (Alphabet) Telecom NextEra Energy Resources°, hydro, Solar, Grand River Dam Authority°, Wind Northern Wasco County PUD, Enel Green Power North America, Exelon Generation, EDF Renewable Energy, Self-supply, Duke Energy, Unknown 4. Apple Inc. 1,650,398,166 107% Technology & Self-supply, 3 Phases Various Telecom Renewables°, Avangrid Renewables°, 3Degrees°, Cypress Creek Renewables, SunPower, Silicon Valley Power°, NC GreenPower°, Austin Energy°, Duke Energy, Sacramento Municipal Utility District°, Partner Name Annual GP % of Organization Providers (listed in Green Green Total Type descending order by Power Power Electricity kWh supplied to Partner) Resources Usage Use* (kWh) Salt River Project°, Carbon Solutions Group°, Homefield Energy, Silicon Valley Clean Energy°, Dynegy°, Xcel Energy°, Memphis Light, Gas and Water°, City of Palo Alto Utilities°, Louisville Gas & Electric Company, Capital Dynamics, Dominion Virginia Power°, Central Electric Cooperative, Huntsville Utilities°, Tampa Electric, Dominion Energy, City of Naperville, Avista Utilities, PNM°, Omaha Public Power District, Pacific Power°, NSTAR 5. -
Long-Term Prospects for Northwest European Refining
LONG-TERM PROSPECTS FOR NORTHWEST EUROPEAN REFINING ASYMMETRIC CHANGE: A LOOMING GOVERNMENT DILEMMA? ROBBERT VAN DEN BERGH MICHIEL NIVARD MAURITS KREIJKES CIEP PAPER 2016 | 01 CIEP is affiliated to the Netherlands Institute of International Relations ‘Clingendael’. CIEP acts as an independent forum for governments, non-governmental organizations, the private sector, media, politicians and all others interested in changes and developments in the energy sector. CIEP organizes lectures, seminars, conferences and roundtable discussions. In addition, CIEP members of staff lecture in a variety of courses and training programmes. CIEP’s research, training and activities focus on two themes: • European energy market developments and policy-making; • Geopolitics of energy policy-making and energy markets CIEP is endorsed by the Dutch Ministry of Economic Affairs, the Dutch Ministry of Foreign Affairs, the Dutch Ministry of Infrastructure and the Environment, BP Europe SE- BP Nederland, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. ('Rabobank'), Delta N.V., ENGIE Energie Nederland N.V., ENGIE E&P Nederland B.V., Eneco Holding N.V., EBN B.V., Essent N.V., Esso Nederland B.V., GasTerra B.V., N.V. Nederlandse Gasunie, Heerema Marine Contractors Nederland B.V., ING Commercial Banking, Nederlandse Aardolie Maatschappij B.V., N.V. NUON Energy, TenneT TSO B.V., Oranje-Nassau Energie B.V., Havenbedrijf Rotterdam N.V., Shell Nederland B.V., TAQA Energy B.V.,Total E&P Nederland B.V., Koninklijke Vopak N.V. and Wintershall Nederland B.V. CIEP Energy -
Conocophillips Alaska: Investing in Alaska in Changing Times
ConocoPhillips Alaska: Investing in Alaska in Changing Times Jan. 13, 2017 Joe Marushack, President January 12, 2017 Cautionary Statement & Safe Harbor The following presentation includes forward‐looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations, operating results or the industries or markets in which we operate or participate in general. Actual outcomes and results may differ materially from what is expressed or forecast in such forward‐ looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that may prove to be incorrect and are difficult to predict such as oil and gas prices; operational hazards and drilling risks; potential failure to achieve, and potential delays in achieving expected reserves or production levels from existing and future oil and gas development projects; unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying company facilities; international monetary conditions and exchange controls; potential liability for remedial actions under existing or future environmental regulations or from pending or future litigation; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions, as well as changes in tax, environmental and other laws applicable to ConocoPhillips’ business and other economic, business, competitive and/or regulatory factors affecting ConocoPhillips’ business generally as set forth in ConocoPhillips’ filings with the Securities and Exchange Commission (SEC). We caution you not to place undue reliance on our forward‐looking statements, which are only as of the date of this presentation or as otherwise indicated, and we expressly disclaim any responsibility for updating such information.