|
Big Oil SIG: ConocoPhillips
Big Oil is a global disaster hiding behind many masks.
RHETORIC FROM WEB SITE
"ConocoPhillips uses its pioneering spirit to responsibly deliver energy to the world. This purpose transcends all of ConocoPhillips' operations. The company conducts its business to return maximum value to shareholders while utilizing a wealth of knowledge and resources from its employees and acting responsibly in all communities in which it operates. As the third-largest integrated energy company in the United States, based on market capitalization, oil and natural gas reserves, the company understands its responsibility to deliver energy in a safe, environmentally and socially responsible manner. The company upholds this responsibility in its worldwide operations, where it is the fifth-largest refiner and the sixth-largest reserves holder of nongovernment-controlled companies. ConocoPhillips is known worldwide for its technological expertise in reservoir management and exploration, 3-D Seismic technology, high-grade petroleum coke upgrading and sulfur removal. Approximately 32,800 ConocoPhillips employees work worldwide to consistently deliver top performance and value and to maintain the company's global market position. Employees' individual talents and strengths combine to create a diverse and resilient workforce within ConocoPhillips. With operations in nearly 40 countries, ConocoPhillips is committed to contributing to social, economic and environmental improvements in all the communities in which it operates. The company is currently funding numerous environmental, social, health and education programs around the world. Headquartered in Houston, Texas, the company has assets of $183 billion. ConocoPhillips stock is listed on the New York Stock Exchange under the symbol "COP."
REALITY:
DEALS WITH IRAQ
In 2004, ConocoPhillips and LUKOIL announced their intent to seek the right to develop the West Qurna field in Iraq. Subject to confirmation of LUKOIL's rights under its Production Sharing Agreement (PSA) related to the field, as well as the consents of governmental authorities and parties to the contract, ConocoPhillips expects to enter into further agreements regarding the assignment of a 17.5 percent interest in the PSA to ConocoPhillips by LUKOIL.
OIL SPILLS IN ALASKA
ANCHORAGE, Alaska, Dec. 18 (UPI) -- Emergency crews braved dangerous cold to clean up 100 barrels of oil and water that fouled the Kuparuk oil field on Alaska's North Slope. The spill was discovered early Sunday by workers who heard a whistling sound coming from a pressurized pipeline, state pollution regulators said. The Anchorage Daily News reports the pipeline suffered a 6-inch rupture, which was blamed on external corrosion. Natalie Knox Lowman, spokeswoman for ConocoPhillips, which runs Kuparuk, said the leak forced the shutdown of three drill sites that produce 8 percent of the field's average output.
Oil companies sue Alaska over idle land Published: May 14, 2007 at 3:58 PM ANCHORAGE, Alaska, May 14 (UPI) -- Four major oil companies have sued Alaska, claiming the state illegally repossessed the companies' idle land leases near the Arctic National Wildlife Refuge. ExxonMobil Corp., BP PLC (OTCBB:BPAQF), Chevron Corp. and Conoco Phillips Co. argue the state violated its own regulations by rescinding Point Thomson leases the oil companies bought decades ago but have not fully developed, the Anchorage (Alaska) Daily News reported Monday. Exxon and the other oil companies said Point Thomson is a remote and technically difficult field that is not economically feasible to develop, the newspaper said. Alaska said in November it would therefore take back the state land and lease it to companies more eager to develop it. The oil companies argued in state Superior Court in Anchorage the state long ago certified seven Point Thomson wells as "capable of producing oil or gas in paying quantities," the Daily News said. The state counters the oil companies plugged and abandoned those wells long ago, so they cannot be considered capable of producing oil and gas. But just because a well is abandoned does not mean it cannot be certified, said Ken Boyd, a former state oil and gas director now working on BP's behalf. The newspaper report stated that Judge Sharon Gleason is expected to have further hearings on the matter later this month.
ConocoPhillips was a "Major Sponsor" of the PNWER (Pacific Northwest Economic Region) Summit in Vancouver, July 20-24, 2008. |
