ConocoPhillips to Spin Off Downstream Business

The ConocoPhillips board of directors voted last week to separate its downstream refining and marketing divisions (including lubricants) from its upstream exploration and production divisions. The upstream portion of the company will retain the ConocoPhillips name and headquarters. The company has not yet announced what the knew company will be called or where it will be headquartered, though the company does expect to have the spin-off completed by mid-2012.

Currently, ConocoPhillips markets lubricants under the 76, Conoco, Kendall and Phillips 66 brands. No word on whether the new company will continue to do so or attempt to consolidate under a new brand identity (Kendall perhaps?).

(This post written while listening to “Rio” by Duran Duran.)

About National Oil & Lube News

National Oil & Lube News is the fast oil change industry's oldest and largest trade publication. Started in 1986 by Steve Hurt (a former fast lube owner) and David Arrington, NOLN has grown and evolved right alongside the fast lube industry. Here at NOLN, our aim is to help fast lube operators with every facet of their business, from operations to technical issues. Our monthly magazine and this regularly updated website contain everything from technical tips, recall announcements and service guides to articles on handling customer complaints, building your brand and making your business the best it can be. With tips and advice from experts both inside and outside the industry, you're sure to learn something that can help your fast lube business grow and prosper.
This entry was posted in ConocoPhillips, Kendall, Lubricants, spin off. Bookmark the permalink.

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