Chevron Phillips Chemical Company
Chevron Phillips Chemical Company (CPChem) is a joint venture between Chevron Corporation and Phillips 66 created in 2000. Headquartered in Woodlands, Texas, the company is 50% owned by Chevron and Phillips 66. Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, piping, and proprietary plastics. The company, with its joint venture partners, operates 33 manufacturing and research centers. They also have 33 production facilities located in the United States, Singapore, Saudi Arabia, Qatar, and Belgium.
The products that Chevron Phillips Chemical produces are essential to manufacturing over 70,000 consumer and industrial products. In order to continue making its growth, the company emphasizes its core values to its approximately 5,000 employees worldwide. They are committed to diversity and inclusion, giving back to the community, environmental sustainability, and focusing on the fundamentals of good business. These core values are ones that have allowed them to accomplish their mission to responsibly manufacture chemicals and polymers the world needs, provide enriching careers, and create shareholder value.
Chevron Phillips Chemical is heavily involved in Qatar. They have created Qatar Chemical Company Ltd. I and II in a joint venture with Qatari companies. They have 49% ownership stake, while Mesaieed Petrochemical Holding Company Q.S.C. has 49% and Qatar Petroleum has 2%. In addition to these established joint ventures, Chevron Phillips Chemical has signed an agreement to develop an $8 billion petrochemical plant along the US Gulf Coast in partnership with Qatar Petroleum. The plant will mostly make hard plastics and will be majority-owned by Chevron Phillips Chemical Company.