ConocoPhillips
ConocoPhillips is the world's largest independent exploration and production company, producing crude oil, natural gas, NGLs, and LNG across 14 countries. It serves refiners, utilities, national oil companies, and LNG buyers through long-term contracts and spot sales, while returning capital to shareholders via dividends and buybacks.
- Company typePublic
- Founded2012
- HeadquartersHouston, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What ConocoPhillips does
ConocoPhillips is the world's largest independent exploration and production (E&P) company, spun off from Phillips 66 in 2012, with operations spanning 14 countries across North America, Europe, the Middle East, Asia Pacific, and Africa. The company's core products are crude oil, natural gas, natural gas liquids (NGLs), and liquefied natural gas (LNG), delivered through geographically diversified segments including Alaska (Willow project, Kuparuk, Prudhoe Bay), the Lower 48 (Permian, Eagle Ford, Bakken — materially expanded by the 2024 Marathon Oil acquisition), Canada (Surmont, Montney), Norway (Troll, Greater Ekofisk), Australia (APLNG), Qatar (Qatargas 3), China (Penglai), and emerging positions in Syria, Libya, and Venezuela.
Underlying the commodity output is a portfolio of proprietary technologies: the Optimized Production Enhancement digital-twin service for well spacing and completion design optimization, the Global Water Sustainability Center (GWSC) produced-water treatment and recycling systems deployed in Qatar and the Permian Basin, drone-based methane detection and quantification tools used in Eagle Ford and other assets, and passive thermosyphon permafrost stabilization systems for Arctic infrastructure. These capabilities sit alongside an LNG technology and licensing business that monetizes proprietary process knowledge to third parties.
ConocoPhillips generates revenue primarily through direct sales of crude oil, natural gas, and LNG to refiners, utilities, traders, and national oil companies, priced at prevailing market benchmarks (WTI, Brent, Henry Hub, JKM). The commercial model combines long-term supply agreements (e.g., the 30-year Alaska LNG contract with Glenfarne, multi-decade offtake with Chinese NOCs Sinopec and CNOOC) with spot-market and short-term sales for uncontracted volumes. The company returns approximately 45% of annual cash from operations to shareholders via dividends (a 56+ year consecutive growth streak, ~$3.36 annualized per share yielding ~2.8-3.0%) and share repurchases, supported by an A- investment-grade credit rating. Customer segments span global energy majors and NOCs, oil and gas industry partners in joint ventures (Equinor, Shell, TotalEnergies), LNG buyers and utilities across Asia-Pacific, and institutional and retail equity investors seeking exposure to large-cap independent E&P.
ConocoPhillips firmographics
Firmographics- Name
- ConocoPhillips
- Legal name
- ConocoPhillips
- Website
- https://conocophillips.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- ConocoPhillips is the world's largest independent exploration and production company, producing crude oil, natural gas, NGLs, and LNG across 14 countries. It serves refiners, utilities, national oil companies, and LNG buyers through long-term contracts and spot sales, while returning capital to shareholders via dividends and buybacks.
- Ownership category
- akta.pro rank
ConocoPhillips industry classification
Industry- Product category
- Upstream Oil and Gas Exploration & Production
- NAICS
- Crude Petroleum Extraction (21112), Natural Gas Extraction (21113), Oil and Gas Extraction (211)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Exploration Services (1382)
- akta.pro primary industry
- Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)
- akta.pro secondary industries
- Unconventional Gas E&P (Shale/Tight Gas) (EUAAAAAC), Offshore Natural Gas E&P (Shallow & Deepwater) (EUAAAAAF), Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)
Keywords
Where ConocoPhillips is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices13 records
Markets served
ConocoPhillips business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Others
Revenue model
- Crude Oil Sales: ConocoPhillips sells crude oil production directly to refineries, traders, and through long-term contracts. Oil is the dominant revenue driver, with the company producing approximately 1.6 million barrels of oil equivalent per day across its global portfolio.
- Natural Gas Sales: Natural gas and natural gas liquids (NGL) are sold to utilities, industrial customers, and LNG feedstock buyers. The company has significant gas positions in Lower 48 (Permian, Eagle Ford, Bakken), Canada Montney, Norway, Qatar, Australia APLNG, and China.
- LNG Export and Supply: ConocoPhillips participates in large-scale LNG liquefaction and export through Australia Pacific LNG (APLNG), Qatar Qatargas 3 joint venture, Port Arthur LNG in the U.S., and Alaska LNG project. LNG is sold under long-term contracts and spot arrangements to global buyers including Chinese utilities via Sinopec and CNOOC partnerships.
- Syria Gas Development: New upstream gas development agreement with Syrian Petroleum Company and Novaterra to revive and develop Syria's natural gas fields, adding new production revenue stream in the Middle East region.
- Capital Return Programs: The company returns approximately 45% of annual cash from operations to shareholders through ordinary dividends (56+ year consecutive dividend growth streak) and share repurchase programs.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
ConocoPhillips product offering
Product offeringCore offering
ConocoPhillips is the world's largest independent exploration and production (E&P) company that explores for, produces, transports, and markets crude oil, natural gas, natural gas liquids (NGLs), and liquefied natural gas (LNG) across 14 countries. Operations span North America (Alaska, Lower 48, Canada), Europe (Norway, UK), Asia Pacific (Australia, China, Malaysia), the Middle East (Qatar), and Africa (Equatorial Guinea, Libya), with a growing LNG portfolio through APLNG, Qatargas 3, Port Arthur LNG, and the proposed Alaska LNG project.
Product overview
ConocoPhillips is the world's largest independent exploration and production (E&P) company, spun off from Phillips 66 in 2012, with operations spanning 14 countries. The company's portfolio is organized around core upstream energy products — crude oil, natural gas, NGLs, and LNG — delivered through geographically diversified segments: Alaska (including the Willow project and Alaska LNG supply agreements), Lower 48 (Permian, Eagle Ford, Bakken following the 2024 Marathon Oil acquisition), Canada (Surmont, Montney), Europe (Norway's Troll TWIN project, Greater Ekofisk redevelopment), Asia Pacific (Australia Pacific LNG, China Bohai Bay, Malaysia), and the Middle East (Qatargas 3 in Qatar, and a 2026 Syria gas development deal). The Global LNG portfolio includes interests in APLNG (Australia), Qatargas 3 (Qatar), and Port Arthur LNG (US), alongside a 30-year Alaska LNG gas supply deal signed in 2026. Adjacent offerings include the Optimized Production Enhancement digital-twin service for production optimization and the Global Water Sustainability Center (GWSC) in Qatar, a center of excellence for water technologies serving the company's global operations.
Differentiator
Problem solved
Functional benefit
Brands
- ConocoPhillips: Parent company brand for all exploration and production operations
- Power in Cooperation
- Global Water Sustainability Center (GWSC)
Products and services
- Exploration and Production Core business line exploring for, producing, transporting, and marketing crude oil, bitumen, natural gas, natural gas liquids (NGLs), and liquefied natural gas (LNG) across 14 countries. Operations span Alaska, Lower 48, Canada, Norway, Australia, China, Malaysia, Qatar, Libya, and Equatorial Guinea.
- Global LNG Global liquefied natural gas portfolio supplying buyers in Asia-Pacific and Europe through interests in Australia Pacific LNG (APLNG), Qatargas 3 (Qatar), Port Arthur LNG (US), and the Alaska LNG project. LNG is sold under long-term contracts and spot arrangements to utilities and energy buyers.
- Commercial Gas & Power Division managing ConocoPhillips' natural gas and electricity commercial activities, including gas marketing and trading that supports the broader LNG portfolio across global markets.
- Optimized Production Enhancement Service Digital-twin-driven service helping oil and gas operators increase output and reduce operating costs through optimized well spacing, completion design, and real-time production management. The service focuses on rethinking operational approaches rather than traditional methods.
- LNG Technology & Licensing LNG technology and licensing services offered to third parties, supporting global LNG development through proprietary knowledge and technical expertise developed across APLNG, Qatargas 3, and Port Arthur LNG projects.
- Global Water Sustainability Center (GWSC) Center of excellence for water-related technologies based in Qatar at the Qatar Science & Technology Park, developing produced-water treatment and recycling solutions (dissolved air flotation, reverse osmosis, membrane bioreactor) for oil and gas operations, with a community Water Visitor Center for water conservation outreach.
- Australia Pacific LNG (APLNG) LNG liquefaction and export facility on Curtis Island in Queensland, Australia, exporting LNG to customers in the Asia-Pacific region. ConocoPhillips expanded its interest in 2022 with the purchase of an additional 10% shareholding.
- Qatargas 3 Large-scale LNG liquefaction and export project at Ras Laffan Industrial City, Qatar, operated by QatarEnergy. ConocoPhillips holds a significant interest and confirmed expected delays to increased LNG production capacity at its Qatar joint venture due to damage to Ras Laffan facilities.
- Willow Project Major $9 billion oil exploration and development project on Alaska's North Slope targeting 180,000 barrels per day at peak and over 600 million barrels of recoverable oil, with first oil targeted for early 2029. Projected to contribute $4 billion of the company's targeted $7 billion incremental free cash flow by 2029.
- Alaska LNG Two-phase LNG infrastructure project in Alaska. Phase One involves a 739-mile pipeline from the North Slope for domestic gas supply with first gas delivery to Alaskans targeted by 2029. Phase Two adds an LNG export terminal near Nikiski with 20 MTPA capacity for international markets, with total project investment exceeding $30-44 billion.
Quantifiable outcome
- Free cash flow expected to nearly double to ~$16 billion by 2029 from ~$8 billion in 2025, driven by Willow project ($4B incremental), Marathon Oil synergies ($1B+ cost cuts), and LNG growth.
- +4 more outcomes
Companies that use ConocoPhillips
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
ConocoPhillips technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature4 records
ConocoPhillips partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor, core and emerging.
- ORLEN Upstream NorwayminorORLEN Upstream Norway and its partners, including ConocoPhillips Skandinavia AS as operator, reached a final investment decision to develop the Cerisa field complex (Albuskjell, Vest Ekofisk, Tommeliten Gamma fields) in the Norwegian North Sea. ORLEN increased its stake in Tommeliten Gamma to 62.61% and acquired 7.6% interest in Albuskjell and Vest Ekofisk from DNO.
- EquinorcoreEquinor and partners Petoro, Shell, TotalEnergies, and ConocoPhillips approved a ~$412 million (NOK 4 billion) investment in the Troll West Increased Gas Recovery North (TWIN) subsea project in the Norwegian North Sea. TWIN is the third step of Troll Phase 3, targeting ~11 billion standard cubic metres of gas with first production in 2028. Troll field holds ~40% of Norway's total gas reserves.
- Novaterra EnergycoreConocoPhillips and Novaterra signed an agreement with Syrian Petroleum Company to develop multiple natural gas fields in Syria, aiming to boost gas output by 4-5 million cubic metres per day within a year. Novaterra provides technical training, advanced software, and modern technologies. This is the first major entry by a U.S. energy company into post-war Syria's energy sector.
- Waha Oil Company (Libya)emergingLibya signed a 25-year development deal worth over $20 billion with ConocoPhillips and TotalEnergies through state-owned Waha Oil Co. ConocoPhillips is in active negotiations with Libya's government to re-enter the country's oil sector and seek resolution of billions of dollars in outstanding claims from the 2007 expropriation.
- NextDecade CorporationminorJohn Zuklic, former ConocoPhillips senior leadership executive, was named CFO of NextDecade Corporation as it advances its Rio Grande LNG export facility in South Texas. This represents a talent transfer between energy companies in the LNG sector.
- CNOOC and SinopeccoreConocoPhillips supplies nearly 10 million tons of LNG per year to China through joint ventures with Sinopec and CNOOC. The company has a 45-year energy partnership with China, including the Penglai Oilfield developed with CNOOC in Bohai Bay, China's largest offshore oilfield.
- Glenfarne Group (Alaska LNG)coreConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG to supply natural gas from Alaska's North Slope for Phase One of the Alaska LNG project (807-mile pipeline). This agreement, along with deals from ExxonMobil and Hilcorp Alaska, provides sufficient volumes to support a final investment decision on Phase One. Alaska LNG Phase One targets mechanical completion by 2028 and first gas delivery to Alaskans by 2029.
- QatarEnergycoreConocoPhillips holds a significant interest in Qatargas 3, a large-scale LNG liquefaction and export project operated by QatarEnergy in Ras Laffan Industrial City, Qatar. The company confirmed expected delays to increased LNG production capacity at its Qatar joint venture due to damage to Ras Laffan facilities from the US-Iran conflict.
Scale indicators10 records
Recent moves7 records
Expansion highlights7 records
ConocoPhillips competitors and assessment
Company assessmentDirect peers
- ExxonMobil: Largest U.S. integrated supermajor with massive upstream E&P operations across conventional, unconventional, and offshore assets, including Alaska North Slope and LNG (Pioneer acquisition). Directly comparable to ConocoPhillips in geography, customer base, and integrated commodity focus.
- Devon Energy: U.S. independent E&P with leading Delaware Basin/Permian position and Eagle Ford/Bakken exposure; competes head-to-head with ConocoPhillips in Lower 48 unconventional development and co-participates in the Western Midstream produced-water JIP.
- EOG Resources: Pure-play U.S. unconventional E&P with premier positions in the Permian, Eagle Ford, and Bakken — the same core unconventional plays as ConocoPhillips' Lower 48. Comparable premium shale producer focused on low breakeven, direct-return capital allocation.
- Chevron: Top-tier U.S. supermajor with overlapping Permian, Gulf of Mexico, Australia LNG, and international E&P positions; pending Hess acquisition further expands its scale. Closely comparable upstream portfolio and LNG exposure to ConocoPhillips.
- Occidental Petroleum: U.S.-focused E&P company with a large Permian Basin position and growing international footprint including Middle East assets; very similar Lower 48 shale-driven business model and focus on free cash flow returns to ConocoPhillips' Lower 48 segment.
- APA Corporation: U.S.-based independent E&P with significant Permian, Egypt, and North Sea operations; comparable mid-cap upstream producer with international diversification analogous to ConocoPhillips' geographically spread asset base.
- Canadian Natural Resources: Canada's largest independent E&P with major oil sands (comparable to ConocoPhillips' Surmont), Montney, and conventional operations; North American-heavy portfolio with strong free cash flow and capital-return discipline mirroring ConocoPhillips' model.
Broad incumbents
- TotalEnergies SE: Global integrated major with strong LNG, Middle East, and Norwegian partnerships (including ConocoPhillips' Troll TWIN). Compares on international E&P scale, LNG growth, and integrated upstream-downstream model.
- BP p.l.c. Global integrated supermajor with upstream oil and gas production and LNG portfolio spanning the Americas, North Sea, Africa, and Asia Pacific. Broadly comparable to ConocoPhillips on international E&P, LNG, and emerging energy transition strategy.
- Shell plc: Global integrated supermajor with major LNG portfolio (Australia, Qatar, U.S.), deepwater and unconventional positions, and significant Norway North Sea presence comparable to ConocoPhillips' Norwegian operations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
ConocoPhillips social profiles
Digital presenceConocoPhillips compliance and trust
Trust signalCompliance3 records
ConocoPhillips financial estimates
Financial estimateRevenue estimate
Valuation estimate
ConocoPhillips leadership team
Management profileNumber of profiles
Profiles7 records
ConocoPhillips subsidiaries and ownership
Company hierarchySubsidiaries8 records
ConocoPhillips funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ConocoPhillips M&A and investment
M&A and investmentM&A4 records
Investments19 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ConocoPhillips
What does ConocoPhillips do?
ConocoPhillips is the world's largest independent exploration and production (E&P) company that explores for, produces, transports, and markets crude oil, natural gas, natural gas liquids (NGLs), and liquefied natural gas (LNG) across 14 countries. Operations span North America (Alaska, Lower 48, Canada), Europe (Norway, UK), Asia Pacific (Australia, China, Malaysia), the Middle East (Qatar), and Africa (Equatorial Guinea, Libya), with a growing LNG portfolio through APLNG, Qatargas 3, Port Arthur LNG, and the proposed Alaska LNG project.
Is ConocoPhillips a public or private company?
ConocoPhillips is a public company. It is classified as public and is currently operating.
When was ConocoPhillips founded?
ConocoPhillips was founded in 2012. It employs 5,001 to 10,000 people.
Where is ConocoPhillips based?
ConocoPhillips is headquartered in Houston, United States, in the North America region.
How does ConocoPhillips make money?
Five revenue lines are on record. Crude Oil Sales are the primary driver. The others are natural Gas Sales, LNG Export and Supply, syria Gas Development and capital Return Programs.
Who are ConocoPhillips's main competitors?
Direct peers on record are ExxonMobil, Devon Energy, EOG Resources, Chevron, Occidental Petroleum, APA Corporation and Canadian Natural Resources. Broad incumbents are TotalEnergies SE, BP p.l.c. and Shell plc.
Does ConocoPhillips have an API?
No public API is recorded for ConocoPhillips.
What industry is ConocoPhillips in?
ConocoPhillips's product category is Upstream Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUAAAAAG, Onshore Natural Gas E&P (Conventional Fields), with a secondary code of EUAAAAAC, Unconventional Gas E&P (Shale/Tight Gas). Its NAICS code is 21112 and its SIC code is 1311.