June 2012 Vol. 239 No. 6

In The News

ConocoPhillips Splits Into Two Companies

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.