Chevron Phillips: A better performance blend

The deal that brought together the chemical operations of Chevron and Phillips was put together over the course of just one week last October. The idea, however, had been simmering for at least four years before the rush of industry consolidations that started with the 1997 formation of Equistar. Th...

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Bibliographic Details
Published in:Chemical Week 2000-10, Vol.162 (37), p.25
Main Author: Westervelt, Robert
Format: Magazinearticle
Language:English
Subjects:
Acquisitions & mergers
Chemical industry
Explosions
Joint ventures
Market positioning
Natural gas liquids
Online Access:Get full text
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Summary:The deal that brought together the chemical operations of Chevron and Phillips was put together over the course of just one week last October. The idea, however, had been simmering for at least four years before the rush of industry consolidations that started with the 1997 formation of Equistar. The appeal was clear in that a combination would remedy respective product weaknesses. Phillips, which operates light-feed crackers, had a tenuous position in aromatics. Chevron solves that with its strong technology and market position in aromatics and its more flexible heavy-feed crackers. Chevron, which consumes 2.5 billion lbs/year more ethylene than it was able to produce, also was heavily dependent on the merchant markets. Phillips, which was selling that amount on the merchant market, solves that problem.
ISSN:0009-272X
2163-3126