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Chevron Phillips Chemical

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Chevron Phillips Chemical
Company typeJoint venture
IndustryPetrochemical
Founded2000; 24 years ago (2000)
HeadquartersThe Woodlands, Texas, United States
Key people
Steven Prusak (CEO)
Products
  • Aromatics
  • Drilling Specialties
  • Normal Alpha Olefins
  • Olefins
  • Polyalphaoelfins
  • Polyethylene
  • Polyethylene Pipe
  • Specialty Chemicals
RevenueIncrease $14.18 billion (2023)[1]
Decrease $1.662 billion (2023)[2]
Total assetsIncrease $17 billion (2022)[3]
Total equityIncrease $13.569 billion (2023)[4]
Owners
Number of employees
5,000 (August 2022)[5]
Websitecpchem.com

Chevron Phillips Chemical (CPChem) is a petrochemical company jointly owned by Chevron Corporation and Phillips 66. The company was formed July 1, 2000, by merging the chemicals operations of both Chevron Corporation and Phillips Petroleum Company. As equally-owned company, it is governed by a board of directors composed of three members from each of the parent companies. The company was actually named in a coin toss to determine which parent company name would be first and which would be last.[6]

Chevron Phillips Chemical is headquartered in The Woodlands, Texas, a northern suburb of Houston, and is a major producer of ethylene, propylene, polyethylene, Alpha-olefins, Polyalphaolefins, aromatic compounds and a range of specialty chemicals.

Operations

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As of the end of 2021 the company had 5,000 employees worldwide, US$17 billion in assets, and 31 manufacturing and research facilities in six countries, including the United States, Belgium, China, Colombia, Qatar, Saudi Arabia, and Singapore. It has 24 facilities in 13 U.S. states.[7]

Corporate Locations

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The headquarters and offices for the Americas are in The Woodlands, Texas. Europe, Middle East, and Africa operations are based in Stockholm Building in Airport Plaza in Diegem, Belgium. Asia Pacific operations are based in Keppel Bay Tower in Singapore.[8]

Research & Technology Centers

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Chevron Phillips Chemical has two US based Research and Technology Centers. One is based in Kingwood, Texas and the other is based in Bartlesville, Oklahoma.

References

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  1. ^ "Financial Information". cpchem.com. Retrieved 2023-06-11.
  2. ^ "Financial Information". cpchem.com. Retrieved 2023-06-11.
  3. ^ "2022 Sustainability Report" (PDF). cpchem.com. Retrieved 2023-06-11.
  4. ^ "Financial Information". cpchem.com. Retrieved 2023-06-11.
  5. ^ "2022 Sustainability Report" (PDF). cpchem.com. Retrieved 2023-06-11.
  6. ^ "Coin toss decides company name". Lubbock Avalanche-Journal. The Lubbock Avalanche-Journal. 2000-04-18. Archived from the original on 2012-03-03. Retrieved 2020-12-04.
  7. ^ "Worldwide Operations". cpchem.com. Archived from the original on 2016-01-02. Retrieved 2015-11-11.
  8. ^ "Contact Us." Chevron Phillips. Retrieved on September 6, 2017. "Headquarters 10001 Six Pines Drive The Woodlands, TX 77380" and "Chevron Phillips Chemical International N.V. Airport Plaza - Stockholm Building Leonardo Da Vincilaan 19 1831 Diegem Belgium" and "Chevron Phillips Chemicals Asia Pte. Ltd. [...] 5 Temasek Boulevard 05-01 Suntec Tower Five 038985 Singapore"
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