ConocoPhillips Summary

CEO: Ryan M. Lance;  Revenues: $63.3 Billion (2012);  Employees: 16,900 (2012)

ConocoPhillips (NYSE: COP) is the world's largest independent exploration and production company based on proved reserves and production of liquids and natural gas. Headquartered in Houston, Texas, this American multinational energy corporation explores for, produces, transports, and markets crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. 

Climate and Energy Targets

In 2012, ConocoPhillips businesses worldwide completed numerous projects to improve energy efficiency, recover product, and reduce GHG emissions. Examples include:

  • Use of closed loop gas handling systems for well completion and service
  • Plunger lift optimization and controller upgrades
  • Compressor and gas plant optimization
  • Pneumatic controller replacement
  • Small-scale solar for remote power, and
  • Flare reductions

These projects are estimated to have reduced or avoided 1 million tonnes of CO2e emissions from ConocoPhillips-operated assets. This is equivalent to 4% fewer emissions from the post-split scope of the company’s operations. (Former downstream operations that were spun off in 2012 are excluded from both 2011 and 2012.)

It is important to note that emission reductions resulting from some projects, for example reduced methane venting during well completions, occur only at the time that the activity takes place, while others will continue to deliver energy efficiency and GHG reduction benefits for a number of years into the future.

The list above does not represent a complete inventory of ConocoPhillips GHG reduction activities and the resulting emission reductions have not all been third-party verified.

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Did You Know?

  • In 2010, ConocoPhillips launched the Global Water Sustainability Center to study technology related to produced water and desalination. Located in Doha, Qatar, the group's research addresses ways to reduce freshwater consumption and minimize the environmental impact of wastewater discharge from oil and gas operations.


Climate and Sustainability Rankings & Recognition

  • Corporate Responsibility Magazine's 100 Best Corporate Citizens 2012
  • Dow Jones Sustainability Index North America 2012


Additional Resources

ConocoPhillips Website

ConocoPhillips Sustainable Development Website