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Phillips Petroleum Company was an American oil company incorporated in 1917 that expanded into petroleum refining, marketing and transportation, natural gas gathering and the chemicals sectors. It was Phillips Petroleum that first found oil in the North Sea on December 23, 1969, at a position that was later named Ekofisk .
The first Phillips 66 logo, branded by the Phillips Petroleum Co. in 1930. The Phillips 66 shield logo, linking it to U.S. Route 66, was introduced in 1930. [11] After a series of changes to the color scheme including the popular dark green with orange and blue trim, [11] the company settled on black and orange color scheme that would last nearly thirty years.
In 2015, ConocoPhillips and Phillips 66 agreed to pay $11.5 million to settle a lawsuit alleging that hundreds of their gas stations violated California anti-pollution laws since 2006. The civil complaint, filed in January 2013, alleged that the companies violated state laws on the operation and maintenance of underground gasoline storage tanks ...
The company has split its stock twice in the last five years: a 4-for-1 split in 2021 followed by a 10-for-1 split in June of this year, bringing its share price to a more affordable $118.
On October 16, 2024, a jury returned a verdict against Phillips 66 Company, a wholly owned subsidiary of Phillips 66 (NYSE:PSX), in a lawsuit brought by Propel Fuels Inc. In the lawsuit, Propel ...
Debuting as one of the largest IPOs in history, Conoco merged with the Phillips Petroleum Company to form ConocoPhillips in the early 2000s. [28] [29] Similar to Marathon's business strategy, ConocoPhillips would later divest its downstream assets into a new company titled Phillips 66, which currently controls the original Conoco brand name. [30]
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