PHILLIPS PETROLEUM COMPANY

major U.S. petroleum company. Headquarters are in Bartlesville, Okla. The company was incorporated in 1917 to acquire the Oklahoma and Kansas oil-producing properties of Frank and L.E. Phillips. The acquisition of a refinery in 1927 led to its development as an integrated oil company, so that it is now engaged in every phase of the petroleum industry, including exploration and development, transportation, refining and processing, and marketing and distribution. Phillips has important oil and gas holdings in the North Sea, Nigeria, and Indonesia, and owns its own refineries, pipelines, tankers, and tank cars. The company markets its products primarily in the Midwest, under the trade name of Phillips 66, and abroad. It markets gasoline for automobiles and aviation, oils and greases, kerosene, and liquefied gas. It also produces petrochemicals, synthetic fibres, plastics, and agricultural chemicals. It has subsidiaries in North and South America, Europe, Africa, Australia, and the Far East.