Chevron Phillips Chemical

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Chevron Phillips Chemical

Logo for Chevron Phillips Chemical
Company type	Joint venture
Industry	Petrochemical
Founded	2000; 24 years ago (2000)
Headquarters	The Woodlands, Texas, United States
Key people	Bruce Chinn (CEO)
Products	Aromatics Drilling Specialties Normal Alpha Olefins Olefins Polyalphaoelfins Polyethylene Polyethylene Pipe Specialty Chemicals
Revenue	$14.18 billion (2023)[1]
Net income	$1.662 billion (2023)[2]
Total assets	$17 billion (2022)[3]
Total equity	$13.569 billion (2023)[4]
Owners	Chevron Phillips 66
Number of employees	5,000 (August 2022)[5]
Website	cpchem.com

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.