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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. -
Linguapax Review 2010 Linguapax Review 2010
LINGUAPAX REVIEW 2010 MATERIALS / 6 / MATERIALS Col·lecció Materials, 6 Linguapax Review 2010 Linguapax Review 2010 Col·lecció Materials, 6 Primera edició: febrer de 2011 Editat per: Amb el suport de : Coordinació editorial: Josep Cru i Lachman Khubchandani Traduccions a l’anglès: Kari Friedenson i Victoria Pounce Revisió dels textos originals en anglès: Kari Friedenson Revisió dels textos originals en francès: Alain Hidoine Disseny i maquetació: Monflorit Eddicions i Assessoraments, sl. ISBN: 978-84-15057-12-3 Els continguts d’aquesta publicació estan subjectes a una llicència de Reconeixe- ment-No comercial-Compartir 2.5 de Creative Commons. Se’n permet còpia, dis- tribució i comunicació pública sense ús comercial, sempre que se’n citi l’autoria i la distribució de les possibles obres derivades es faci amb una llicència igual a la que regula l’obra original. La llicència completa es pot consultar a: «http://creativecom- mons.org/licenses/by-nc-sa/2.5/es/deed.ca» LINGUAPAX REVIEW 2010 Centre UNESCO de Catalunya Barcelona, 2011 4 CONTENTS PRESENTATION Miquel Àngel Essomba 6 FOREWORD Josep Cru 8 1. THE HISTORY OF LINGUAPAX 1.1 Materials for a history of Linguapax 11 Fèlix Martí 1.2 The beginnings of Linguapax 14 Miquel Siguan 1.3 Les débuts du projet Linguapax et sa mise en place 17 au siège de l’UNESCO Joseph Poth 1.4 FIPLV and Linguapax: A Quasi-autobiographical 23 Account Denis Cunningham 1.5 Defending linguistic and cultural diversity 36 1.5 La defensa de la diversitat lingüística i cultural Fèlix Martí 2. GLIMPSES INTO THE WORLD’S LANGUAGES TODAY 2.1 Living together in a multilingual world. -
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 -
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 -
Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT Millions of Dollars 2011 2012 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD Revenues and Other Income Sales and other operating revenues* 56,530 65,627 62,784 59,872 244,813 56,132 56,132 Equity in earnings of affiliates 1,017 1,160 1,298 602 4,077 1,220 1,220 Gain on dispositions 616 78 (480) 1,793 2,007 942 942 Other income 84 96 27 122 329 60 60 Total Revenues and Other Income 58,247 66,961 63,629 62,389 251,226 58,354 58,354 Costs and Expenses Purchased crude oil, natural gas and products 42,376 50,133 47,597 45,761 185,867 41,889 41,889 Production and operating expenses 2,628 2,606 2,768 2,768 10,770 2,696 2,696 Selling, general and administrative expenses 499 514 466 599 2,078 685 685 Exploration expenses 176 264 266 360 1,066 679 679 Depreciation, depletion and amortization 2,070 2,075 1,870 1,919 7,934 1,838 1,838 Impairments - 2 486 304 792 259 259 Taxes other than income taxes* 4,364 4,830 4,579 4,534 18,307 4,521 4,521 Accretion on discounted liabilities 112 115 114 114 455 114 114 Interest and debt expense 262 247 235 228 972 209 209 Foreign currency transaction (gains) losses (36) (17) 68 (31) (16) (11) (11) Total Costs and Expenses 52,451 60,769 58,449 56,556 228,225 52,879 52,879 Income before income taxes 5,796 6,192 5,180 5,833 23,001 5,475 5,475 Provision for income taxes 2,754 2,773 2,549 2,423 10,499 2,520 2,520 Net Income 3,042 3,419 2,631 3,410 12,502 2,955 2,955 Less: net income attributable to noncontrolling interests (14) (17) (15) (20) (66) (18) (18) Net -
Socioeconomic Research Issues: Gulf of Mexico OCS Region
OCS Study MMS 2005-016 Workshop on Socioeconomic Research Issues for the Gulf of Mexico OCS Region February 2004 U.S. Department of the Interior Minerals Management Service Gulf of Mexico OCS Region OCS Study MMS 2005-016 Workshop on Socioeconomic Research Issues for the Gulf of Mexico OCS Region February 2004 Editors Melanie McKay Copy Editor Judith Nides Production Editor Prepared under MMS Contract 1435-00-01-CA-31060 by University of New Orleans Office of Conference Services New Orleans, Louisiana 70814 Published by U.S. Department of the Interior Minerals Management Service New Orleans Gulf of Mexico OCS Region March 2005 DISCLAIMER This report was prepared under contract between the Minerals Management Service (MMS) and the University of New Orleans, Office of Conference Services. This report has been technically reviewed by the MMS and approved for publication. Approval does not signify that contents necessarily reflect the views and policies of the Service, nor does mention of trade names or commercial products constitute endorsement or recommendation for use. It is, however, exempt from review and compliance with MMS editorial standards. REPORT AVAILABILITY Extra copies of this report may be obtained from the Public Information Office (Mail Stop 5034) at the following address: U.S. Department of the Interior Minerals Management Service Gulf of Mexico OCS Region Public Information Office (MS 5034) 1201 Elmwood Park Boulevard New Orleans, Louisiana 70123-2394 Telephone Numbers: (504) 736-2519 1-800-200-GULF CITATION This study should be cited as: McKay, M. and J. Nides, eds. 2005. Workshop on Socioeconomic Research Issues for the Gulf of Mexico OCS Region, February 2004. -
Case Study on Co2 Transport Pipeline Network Design for Humber Region in the Uk
CASE STUDY ON CO2 TRANSPORT PIPELINE NETWORK DESIGN FOR HUMBER REGION IN THE UK Tihomir Lazica, Eni Okoa,b and Meihong Wanga,b,* aProcess Systems Engineering Group, School of Engineering, Cranfield University, Bedfordshire, MK43 0AL, UK bSchool of Engineering, University of Hull, HU6 7RX, UK *Corresponding author. Tel.: +44 1482 466688. E-mail address: [email protected] ABSTRACT Reliable, safe and economic CO2 transport from CO2 capture points to long term storage/enhanced oil recovery (EOR) sites is critical for commercial deployment of carbon capture and storage (CCS) technology. Pipeline transportation of CO2 is considered most feasible. However, in CCS applications there is concern about associated impurities and huge volumes of high pressure CO2 transported over distances likely to be densely populated areas. On this basis, there is limited experience for design and economic assessment of CO2 pipeline. The Humber region in the UK is a likely site for building CO2 pipelines in the future due to large CO2 emissions in the region and its close access to depleted gas fields and saline aquifers beneath the North Sea. In this paper, various issues to be considered in CO2 pipeline design for CCS applications are discussed. Also, different techno- economic correlations for CO2 pipelines are assessed using the Humber region as case study. Levelized cost of CO2 pipelines calculated for the region range from 0.14 to 0.75 GBP per tonne of CO2. This is a preliminary study and is useful for obtaining quick techno-economic assessment of CO2 -
The Low Carbon Energy & Industry Investment Opportunity
Greater Lincolnshire UK The Low Carbon Energy & Industry Investment Opportunity Greater Lincolnshire UK The Low Carbon Energy & Industry Investment Opportunity 03 Business Location Guide Contents Contents Contents 03 The Low Carbon Investment Opportunity 04 The UK Low Carbon Market Opportunity 06 The Low Carbon Industrial Investment Opportunity 08 The Circular Economy Investment Opportunity 10 The Offshore Renewable Energy Investment Opportunity 12 Low Carbon & Related Industry Clusters 14 Low Carbon Knowledge, Research & Technologies 16 Workforce, Education & Skills for Low Carbon Sectors 18 Industrial Sites & Property Solutions 26 Humber Freeport Sites & Benefits28 Ports & Logistics Infrastructure 30 Fast UK & Global Market Access 32 Greater Lincolnshire’s Location & Connectivity 34 UK Market Access 35 Support for Your Low Carbon Sector Business Investment 36 Greater Lincolnshire UK The Low Carbon Energy & Industry Investment Opportunity 04 Greater Lincolnshire UK The Low Carbon Energy & Industry Investment Opportunity 05 Business Location Guide Business Location Guide Growth opportunities aligned with Greater ambitious UK sustainability goals Lincolnshire UK: UK-leading industry clusters The Low Carbon in Low Carbon energy and industrial sectors Investment Building on established strengths in energy generation, energy-intensive industries, and port logistics, including within the Humber Energy Advanced Low Carbon research, Estuary, the area is home to the UK’s most Opportunity ambitious Industrial Decarbonisation project, a innovation -
Phillips Petroleum Company 2001 Annual Report
Phillips Petroleum Company 2001 Annual Report NEW EXPECTATIONS PHILLIPS’ MISSION IS TO PROVIDE SUPERIOR RETURNS FOR SHAREHOLDERS THROUGH TOP PERFORMANCE IN ALL OUR BUSINESSES. PHILLIPS PETROLEUM CONTENTS COMPANY IN BRIEF 2 PHILLIPS’WORLDWIDE OPERATIONS Phillips Petroleum Company is a 4 LETTER TO SHAREHOLDERS major integrated U.S. oil and gas CEO Jim Mulva describes Phillips’ journey and explains why the company has company. It is headquartered in new expectations for increased shareholder returns. Bartlesville, Oklahoma. The company 7 THE CHAIRMAN’S PERSPECTIVE was founded in 1917. Phillips’ core Jim Mulva responds to questions about the company as it prepares to enter a new era. activities are: 9 FINANCIAL SUMMARY ■ Petroleum exploration and produc- Phillips remains financially strong despite a challenging economic climate. tion on a worldwide scale. 10 EXPLORATION AND PRODUCTION (E&P) ■ Petroleum refining, marketing and Phillips anticipates increased oil and gas output from existing projects, and is transportation, primarily in the carrying out a balanced and focused exploration program. United States. 18 REFINING, MARKETING AND TRANSPORTATION (RM&T) ■ Chemicals and plastics production Following its acquisition of Tosco, Phillips is capturing synergies and taking advantage and distribution worldwide through of its expanded capabilities as one of the largest U.S. refiners and marketers. a 50 percent interest in Chevron 24 CHEMICALS Phillips Chemical Company Chevron Phillips Chemical Company is weathering a difficult market, holding down (CPChem). costs and carrying out growth projects. ■ Natural gas gathering, processing 26 GAS GATHERING, PROCESSING AND MARKETING and marketing in North America Phillips’ midstream joint venture is making the most of its strengths while through a 30.3 percent interest in pursuing growth opportunities. -
Oregon Freight Intermodal Connector System Study
Appendix September 26, 2017 prepared for Oregon Department of Transportation prepared by Cambridge Systematics, Inc. 555 12th Street, Suite 1600 Oakland, CA 94607 i Oregon Freight Intermodal Connector System Study Table of Contents 1.0 Appendix A - Stakeholder Engagement ........................................................................................... 1-1 1.1 Stakeholder Survey .................................................................................................................... 1-1 1.2 Meeting with Portland Freight Stakeholders ............................................................................ 1-24 1.3 Technical Advisory Committee ................................................................................................ 1-33 1.4 Oregon Freight Advisory Committee ....................................................................................... 1-33 1.5 Supplemental Stakeholder Interviews/Survey ......................................................................... 1-33 2.0 Appendix B – Analysis of Existing NHS Intermodal Connectors .................................................. 2-1 2.1 Vehicle Classification Count Data .............................................................................................. 2-1 2.2 Truck-Involved Crashes ............................................................................................................. 2-3 2.3 Pavement Condition Information .............................................................................................. -
Petroleum News 082904
page Bear rule stays: Salazar decides not 5 to revoke Bush-era special ESA rule Vol. 14, No. 20 • www.PetroleumNews.com A weekly oil & gas newspaper based in Anchorage, Alaska Week of May 17, 2009 • $2 Drilling at Point Thomson NATURAL GAS Chugach contract Following nearly five years of looking, Chugach Electric gets a gas supply COURTESY EXXONMOBIL COURTESY By ERIC LIDJI The proposed contract gives Chugach all Petroleum News the gas it needs through 2010, but leaves hugach Electric Association filed a supply the utility with about one-third of its 2011 Ccontract with state regulators on May 12 to needs and half of its 2012 needs buy some 66 billion cubic feet of gas from unaccounted for. The Point Thomson pad in early May, with drilling progressing on ConocoPhillips over the next seven years. the PTU 15 well; ExxonMobil will drill to 5,000 feet, then drill PTU 16 to the same depth. Drilling into hydrocarbon-bearing zones on the The contract is the result of nearly five years of gas needs in 2016. coast is limited to Nov. 1 through April 15; drilling will resume in solicitations and negotiations, and is the first long- Chugach supplies electricity directly to most of December-January. See story page 10. term gas supply agreement filed by the electric Anchorage, and indirectly to homes and business- utility in more than 20 years. es throughout the Railbelt region that runs from Alberta cleans up royalty house; Under the proposed contract, ConocoPhillips Homer to Fairbanks. would provide 100 percent of Chugach’s unmet About 90 percent of the new gas volumes will Alyeska wins operator award; gas needs through April 2011, about half of its be priced using a “Production Area Composite JPO moving; Foothills road unmet gas needs between June 2011 and December 2015, and about 25 percent of its unmet studies this summer see CONTRACT page 19 WHATEVER ALBERTA’S OIL AND GAS PRODUCERS NATURAL GAS think of the province’s new royalty scheme — and the displeas- ure is close to universal — Alberta Auditor-General Fred Dunn isn’t about to give them a break. -
2009 Commission Meeting Minutes
COMMISSIONERS RECORDED MEETINGS YEAR VOL. COMMENTS: THIS FILE WAS DIVIDED DUE TO ITS SIZE. THIS FILE HAS BEEN DIVIDED INTO PARTS. COMMISSIONERS OF THE LAND OFFICE REGULAR MEETING MINUTES THURSDAY, AUGUST 13, 2009 AT 2:00 P.M. GOVERNOR'S LARGE CONFERENCE ROOM STATE CAPITOL BUILDING - SECOND FLOOR OKLAHOMA CITY, OKLAHOMA Notice was posted online with the Secretary of State on October 23, 2008. Public notice was also posted on the Commissioners of the Land Office website and at the Commissioners of the Land Office and Governor's Large Conference Room of the State Capitol Building. PRESENT: Honorable Brad Henry, Governor and Chair Honorable Jari Askins, Lt. Governor and Vice-Chair Honorable Steve Burrage, State Auditor & Inspector and Member Honorable Terry Peach, President State Board of Agriculture and Member Honorable Sandy Garrett, State Superintendent of Public Instruction and Member CLO STAFF PRESENT: Mike Hunter, Secretary Janet Henthorn, Chief of Staff Sarah Evans, Executive Secretary Keith Kuhlman, Director of the Real Estate Management Division Brian Heanue, Director of the Accounting Division David Shipman, Director of the Minerals Management Division Jack Stinson, Acting Director of the Audit Division Phyllis Bolt, Investment Director Trey Ramsey, Information Systems Director Jim Dupre, Legal Division VISITORS: Terri Watkins, State Auditor & Inspector's Office Michelle Tilley Johnson, Lt. Governor's Office Mike Fina, Lt. Governor's Office Brad Clark, State Department of Education Julie Bisbee, The Oklahoman Jered Davidson, Lt. Governor's Office Shawn Ashley, E-Capitol.net Guy Hurst, OTC Commission Meeting Minutes 228 August 13, 2009 The meeting was called to order at 2:32 p.m., chaired by Governor Henry.