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Chevron Phillips Chemical information

Chevron Phillips Chemical
Company typeJoint venture
Founded2000; 24 years ago (2000)
HeadquartersThe Woodlands, Texas, United States
Key people
Bruce Chinn (CEO)
  • Aromatics
  • Drilling Specialties
  • Normal Alpha Olefins
  • Olefins
  • Polyalphaoelfins
  • Polyethylene
  • Polyethylene Pipe
  • Specialty Chemicals
RevenueIncrease $14.18 billion (2023)[1]
Net income
Decrease $1.662 billion (2023)[2]
Total assetsIncrease $17 billion (2022)[3]
Total equityIncrease $13.569 billion (2023)[4]
  • Chevron
  • Phillips 66
Number of employees
5,000 (August 2022)[5]

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]

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.

  1. ^ "Financial Information". Retrieved 2023-06-11.
  2. ^ "Financial Information". Retrieved 2023-06-11.
  3. ^ "2022 Sustainability Report" (PDF). Retrieved 2023-06-11.
  4. ^ "Financial Information". Retrieved 2023-06-11.
  5. ^ "2022 Sustainability Report" (PDF). Retrieved 2023-06-11.
  6. ^ "Coin toss decides company name". Lubbock Avalanche-Journal. The Lubbock Avalanche-Journal. 2000-04-18. Archived from the original on 2012-03-03. Retrieved 2020-12-04.

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