| Chevron Phillips Chemical | |
| Type: | Joint venture |
| Location: | The Woodlands, Texas, United States |
| Key People: | Bruce Chinn (CEO) |
| Industry: | Petrochemical |
| Revenue: | $14.18 billion (2023)[1] |
| Net Income: | $1.662 billion (2023)[2] |
| Assets: | $17 billion (2022)[3] |
| Equity: | $13.569 billion (2023)[4] |
| Num Employees: | 5,000 (August 2022)[5] |
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.
As of the end of 2021 the company had 5,000 employees worldwide, US$17 billion in assets, and 31 manufacturing and research facilities in six countries, including the United States, Belgium, China, Colombia, Qatar, Saudi Arabia, and Singapore. It has 24 facilities in 13 U.S. states.[7]
The headquarters and offices for the Americas are in The Woodlands, Texas. Europe, Middle East, and Africa operations are based in Stockholm Building in Airport Plaza in Diegem, Belgium. Asia Pacific operations are based in Keppel Bay Tower in Singapore.[8]