ConocoPhillips Announces Name and Headquarters of Downstream Company

ConocoPhillips recently announced that the new independent downstream company created through its previously announced strategic repositioning will be named Phillips 66 and will be headquartered in Houston. The “new” Phillips 66 will have businesses in refining, marketing, midstream and chemicals, and will include businesses related to lubricants manufacturing and marketing.

“Phillips 66 has strong brand recognition and value, and it provides a link between our rich history and our exciting future,” said Greg Garland, designated chairman and CEO of Phillips 66. “Our name reflects an independent spirit and drive — two attributes of our future company.”

No definitive announcement regarding Phillips 66’ lubricant brands or programs have been announced, but industry pundits predict that the company will retain its disparate brands, meaning Phillips 66 will likely continue to market lubricants under the 76, Conoco, Kendall and Phillips 66 brands, with particular attention paid to the Kendall brand.

ConocoPhillips, which will be a pure-play exploration and production company after the repositioning, will continue to be headquartered in Houston at the existing ConocoPhillips facility.

The strategic repositioning of ConocoPhillips is expected to be completed in the second quarter of this year.