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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. -
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 -
Investor Update February 2018
Investor Update February 2018 NYSE: PSX www.phillips66.com Lake Charles Refinery Cautionary Statement This presentation contains certain forward-looking statements. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “intends,” “objectives,” “projects,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the operations of Phillips 66 and Phillips 66 Partners LP (including their respective joint venture operations) are based on management’s expectations, estimates and projections about these entities, their interests and the energy industry in general on the date this presentation was prepared. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements can be found in filings that Phillips 66 and Phillips 66 Partners LP make with the Securities and Exchange Commission. Phillips 66 and Phillips 66 Partners LP are under no obligation (and expressly disclaim any such obligation) to update or alter these forward-looking statements, whether as a result of new information, future events or otherwise. This presentation includes non-GAAP financial measures. You can find the reconciliations to comparable GAAP financial measures at the end of the presentation materials or in the “Investors” section of the websites of Phillips 66 and Phillips 66 Partners LP. -
Billings Area Emergency Response Action Plan
BILLINGS AREA EMERGENCY RESPONSE ACTION PLAN PHMSA Sequence Number 2988 Owner/Operator: Phillips 66 3010 Briarpark Drive Houston, Texas 77024 24-Hour Number: (800) 231-2551 or (877) 267-2290 Page A7-1 Confidentiality Notice: This document is for the sole use of the intended recipient(s) and contains information that is considered to be proprietary to Phillips 66. Any unauthorized review, use, disclosure or distribution is strictly prohibited. Billings Area Appendix 7: Response Zone Appendix ERAP Appendix 7: ERAP Table of Contents 7.1 Area Information .......................................................................................................... 1 7.1.1 Tank Table ....................................................................................................... 2 7.2 Communication Equipment ......................................................................................... 2 7.3 Notification Sequence ................................................................................................. 2 7.4 Emergency Notification Contact List ........................................................................... 5 7.5 Emergency Response Equipment, Testing & Deployment ......................................... 9 7.6 Immediate Actions ..................................................................................................... 10 7.7 Maps and Diagrams .................................................................................................. 12 7.8 Response Forms ...................................................................................................... -
Drilling the Monterey Shale
A New California Oil Boom? Drilling the Monterey Shale By Robert Collier December 2013 Table of Contents Table of Contents 2 Part 1: Distracted by Fracking? 3 Part 2: The Most dangerous chemical you’ve never heard of 6 Part 3: The Climate conundrum 9 Part 4: Monterey Shale: Twice as polluting as Keystone XL? 13 Part 5: Is California really like North Dakota? 18 Part 6: Keeping the story straight: industry reports at odds on California oil 24 Notes 27 Page 2 | Drilling the Monterey Shale Part 1: Distracted by Fracking? Over the past few years, the United States has found the more likely candidate for tapping the Monterey itself in the midst of a major boom in oil and gas Shale: A technique, already widely in use in the oil production. Rapid expansion in the use of a drilling industry, known as “acidizing.” technique called hydraulic fracturing, or “fracking,” has opened up previously unreachable pockets of oil It’s not widely discussed in publicly, but for some and gas, and returned the U.S. to its historic position time oil companies have found acidizing more as a major global producer of these fossil fuels. effective in the Monterey Shale than fracking. And it seems the boom may be coming to Acidizing typically involves the injection of high California. Once a leading producer of oil in the U.S., volumes of hydrofluoric acid, a powerful solvent, California’s production has fallen off dramatically (abbreviated as “HF”) into the oil well to dissolve over the years as oil fields age and are depleted. -
EXXONMOBIL DEVELOPMENT § COMPANY; and EXXONMOBIL § OIL CORPORATION, § § Plaintiffs, § § V
Case 3:17-cv-01930-B Document 110 Filed 12/31/19 Page 1 of 35 PageID <pageID> UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF TEXAS DALLAS DIVISION EXXON MOBIL CORPORATION; § EXXONMOBIL DEVELOPMENT § COMPANY; and EXXONMOBIL § OIL CORPORATION, § § Plaintiffs, § § v. § CIVIL ACTION NO. 3:17-CV-1930-B § STEVEN MNUCHIN, in his official § capacity as Secretary of the U.S. § Department of the Treasury; § ANDREA M. GACKI, in her official § capacity as the Director of the U.S. § Department of the Treasury’s Office § of Foreign Assets Control; and the U.S. § DEPARTMENT OF THE TREASURY’S § OFFICE OF FOREIGN ASSETS § CONTROL, § § Defendants. § MEMORANDUM OPINION AND ORDER Before the Court is Plaintiffs Exxon Mobil Corporation, ExxonMobil Development Company, and ExxonMobil Oil Corporation’s Motion for Summary Judgment (Doc. 92), as well as Defendants Steven Mnuchin, Andrea Gacki, and the Office of Foreign Assets Control’s Cross-Motion for Summary Judgment (Doc. 95). The parties dispute whether the Office of Foreign Assets Control’s imposition of a two-million-dollar fine upon Plaintiffs for alleged violations of Ukraine-related sanctions regulations was lawful. Because the Court concludes that Plaintiffs lacked fair notice that their conduct was prohibited, the Court GRANTS Plaintiffs’ motion (Doc. 92) and DENIES Defendants’ cross-motion (Doc. 95). Further, the Court VACATES the Office of Foreign Asset - 1 - Case 3:17-cv-01930-B Document 110 Filed 12/31/19 Page 2 of 35 PageID <pageID> Control’s Penalty Notice. I. BACKGROUND1 This is an administrative case prompting the Court to determine which party receives the benefit of having its cake and eating it, too—the regulating agency that failed to clarify, or the regulated party that failed to ask. -
Exxonmobil Indonesia at a Glance Country Fact Sheet
ExxonMobil Indonesia at a glance Country fact sheet KEY FACTS 1898 Standard Oil Company of New York (Socony) opens a marketing office in Java. 1968 Mobil Oil Indonesia Inc. (MOI) is formed and becomes one of the first contractors to be involved in the country’s newly established “Production Sharing Contract (PSC)” approach for B block in North Aceh. MOI is later renamed ExxonMobil Oil Indonesia (EMOI) in 2000. 2001 A discovery of over 450 million barrels of oil at Banyu Urip oil field, East Java. 2005 ExxonMobil Cepu Limited (EMCL) assigned as operator for the Cepu block under PSC. 2006 Banyu Urip Plan of Development (POD) approved by the government of Indonesia. 2009 Cepu block commenced commercial production through Early Production Facility (EPF). 2011 EMCL awards five major Banyu Urip project Engineering, Procurement and Construction (EPC) contracts to five Indonesian-led consortiums. 2015 In October, ExxonMobil assigned its interest in the North Sumatra Block Offshore (NSO) and B Block PSC to Pertamina. The start-up of Banyu Urip’s onshore Central Processiong Facility (CPF) commenced in December. 2016 POD production of 165,000 barrels of oil per day is achieved at Banyu Urip field. NOW Approximately 570 employees at ExxonMobil Indonesia. Nearly 90 percent are Indonesians, many of whom are senior managers and engineers. Increasing energy supply for Indonesia. The FSO vessel, Gagak Rimang, connected to the mooring tower. UPSTREAM Cepu block East Natuna block • The Cepu Block PSC was signed on 17 September 2005 • Located in the South China Sea. covering the Cepu Contract Area in Central and East Java. -
Presentation Title Slide
Investor Update Second Quarter 2015 Execution Investor Update Second Quarter 2015 NYSE: PSX www.phillips66.com Cautionary Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “intends,” “objectives,” “projects,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to Phillips 66’s operations (including joint venture operations) are based on management’s expectations, estimates and projections about the company, its interests and the energy industry in general on the date this presentation was prepared. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include fluctuations in NGL, crude oil and natural gas prices, and petrochemical and refining margins; unexpected changes -
Growing Value $245 Billion of Revenues As of Dec
www.conocophillips.com ConocoPhillips is an international, integrated energy company with interests around the world. Headquartered in Houston, the company had operations in more than 35 countries, approximately 29,800 employees, $153 billion of assets and Growing Value $245 billion of revenues as of Dec. 31, 2011. 2011 SUMMARY ANNUAL REPORT 90414conD1R1.indd 1 2/28/12 11:05 PM Shareholder Information 1 Letter to Shareholders Certain disclosures in this Summary Annual Annual Meeting Information Requests Copies of Form 10-K, Proxy Statement 49 Report may be considered “forward-looking” and Summary Annual Report 5 Financial and Operating Highlights ConocoPhillips’ annual meeting of For information about dividends and statements. These are made pursuant to “safe stockholders will be held: certificates, or to request a change of Copies of the Annual Report on Form 10-K 6 Repositioning harbor” provisions of the Private Securities address form, shareholders may contact: and the Proxy Statement, as filed with the Litigation Reform Act of 1995. The “Cautionary Wednesday, May 9, 2012 U.S. Securities and Exchange Commission, Statement” in Management’s Discussion and Omni Houston Hotel Westside Computershare are available free by making a request on Our Commitments Analysis in Appendix A of ConocoPhillips’ 2012 13210 Katy Freeway, Houston, Texas P.O. Box 358015 the company’s website, calling 918-661- Proxy Statement should be read in conjunction Pittsburgh, PA 15252-8015 8 Enhancing Financial Performance Notice of the meeting and proxy materials 3700 or writing: with such statements. Toll-free number: 800-356-0066 are being sent to all shareholders. 10 Empowering Our People Outside the U.S.: 201-680-6578 ConocoPhillips – 2011 Form 10-K TDD for hearing impaired: 800-231-5469 B-41 Adams Building 12 Operating Responsibly “ConocoPhillips,” “the company,” “we,” “us” Direct Stock Purchase and Dividend and “our” are used interchangeably in this report TDD outside the U.S.: 201-680-6610 411 South Keeler Ave. -
3Qtr17 Spirit-Magazine.Pdf
CONOCOPHILLIPS Third Quarter 2017 Providing energy for the world while staying committed to our values. ConocoPhillips is proud to be an industry leader in fi nding and producing the oil and gas the world needs. At the foundation of our work is the commitment we have to our SPIRIT Values—Safety, People, Integrity, Responsibility, Innovation and Teamwork. To learn more, visit www.conocophillips.com © ConocoPhillips Company. 2017. All rights reserved. SHARING INSIGHTS From the desk of Ryan Lance Chairman & CEO AS THE HOUSTON AREA RECOVERS from the devastating aftermath of Hurricane Harvey, I continue to be impressed by the incredible compassion and resilience of our ConocoPhillips workforce. We are forging ahead on many fronts, including the completion of this special issue of spirit Magazine featuring the annual SPIRIT of Performance Awards. One of the most important responsibilities of my job is meeting with ConocoPhillips employees and listening to their ideas and concerns. During the past quarter, I visited China, Malaysia and Indonesia and saw the amazing work our people are doing on projects such as additional development phases at the Peng Lai field in Bohai Bay; production rampup and an active exploration program in Malaysia; and an initiative to sell more gas in Indonesia. During a visit to Alaska, I heard excitement around our Willow discovery in the National Petroleum Reserve and the active upcoming winter drilling campaign. In July, the company’s board of directors joined me on a visit to our Bakken operations in North Dakota, where the team patiently answered all our questions and showed why ConocoPhillips is recognized as an operator of choice in that important region. -
Update on the Exxonmobil and Rosneft Strategic Cooperation
Investor Meeting April 18, 2012 The St. Regis New York Cautionary Statement Forward-Looking Statements and Other Information. Business and project plans and other statements of future events or conditions presented at this meeting, including during discussion periods, are forward-looking statements. Actual future results, including project plans, costs, timing and results; economic benefits; resource recoveries; demand growth and mix; and the impact of technology could differ materially due to a number of factors. These include changes in oil or gas prices or other market conditions affecting the oil and gas industries; the outcome of exploration and development projects; unforeseen technical difficulties or technological changes; the outcome of commercial negotiations; changes in law or government regulation; and other factors discussed here and under the heading "Factors Affecting Future Results" in the Investors section of ExxonMobil’s web site at exxonmobil.com. Forward-looking statements are based on management’s knowledge and reasonable expectations on the date hereof, and we assume no duty to update these statements as of any future date. All information presented at this meeting is solely the responsibility of the presenting company. Agenda 9:30 AM Welcome David Rosenthal, ExxonMobil Vice President, Investor Relations 9:35 AM Strategic Cooperation Agreement Rex Tillerson, ExxonMobil Chairman and CEO 9:50 AM Rosneft Briefing Eduard Khudainatov, Rosneft President 10:30 AM Overview of Russian Oil Industry Igor Sechin, Russian Deputy