Conoco Inc in short: integrated oil company explores for oil and gas production
Conoco, which has agreed to merge with Phillips Petroleum, boasts a cornucopia of energy assets. Formerly a unit of chemical giant DuPont, the integrated oil company explores for oil and gas in 20 countries. It has proved reserves of about 3.6 billion barrels of oil equivalent in Europe, Southeast Asia, and the Americas; it gained reserves of more than 1 billion barrels of oil equivalent in 2001 by buying Gulf Canada Resources. Conoco runs about 6,000 miles of US pipeline and owns or has stakes in nine refineries in the US, Europe, and Asia. The company operates more than 7,000 gas stations in the US, Europe, and Thailand, and its power division markets and trades electricity and gas.
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