Chevron Phillips Chemical
American chemical company jointly owned by Chevron and Phillips / From Wikipedia, the free encyclopedia
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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]
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Company type | Joint venture |
---|---|
Industry | Petrochemical |
Founded | 2000; 24 years ago (2000) |
Headquarters | The Woodlands, Texas, United States |
Key people | Bruce Chinn (CEO) |
Products |
|
Revenue | $14.18 billion (2023)[1] |
$1.662 billion (2023)[2] | |
Total assets | $17 billion (2022)[3] |
Total equity | $13.569 billion (2023)[4] |
Owners | |
Number of employees | 5,000 (August 2022)[5] |
Website | cpchem |
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.