as nyse psx s & p 500 component industry oil and gas predecessor phillips petroleum company conocophillips founded bartlesville oklahoma 1917 ; 99 years ago 1917 houston texas 2012 ; 4 years ago 2012 founder l.e. phillips and frank phillips headquarters westchase houston texas area served worldwide key people greg garland chairman and ceo products natural gas petrochemicals aviation fuels motor fuels lubricants services oil refining service stations revenue us 161.21 billion 2014 1 operating income us 4.06 billion 2014 1 net income us 4.762 billion 2014 1 total assets us 48.74 billion 2014 1 total equity us 22.04 billion 2014 1 number of employees 14 000 2014 1 website www.phillips66.com the phillips 66 company nyse psx is an american multinational energy company headquartered in westchase houston texas . it debuted as an independent energy company when conocophillips executed a spin off of its downstream and midstream assets . taking its name from the 1927 phillips 66 trademark of conocophillips predecessor phillips petroleum company phillips 66 began trading on the new york stock exchange on may 1 2012 under the ticker psx . the company is engaged in producing natural gas liquids ngl and petrochemicals . the company has approximately 14 000 employees worldwide and is active in more than 65 countries . 2 phillips 66 is ranked no. 7 on the fortune 500 list and no. 19 on the fortune global 500 list as of 2015 update . 3 4 contents 1 history 1.1 beginning 1.2 logo 1.3 motor oil 1.4 gas stations 1.5 mergers 1.6 marketing 1.7 spin off 1.8 berkshire hathaway trade 1.9 spin off of natural gas pipelines 2 operations 2.1 refineries 3 corporate affairs 4 references 5 external links history edit beginning edit founded by lee eldas l.e. phillips and frank phillips of bartlesville oklahoma phillips petroleum co. was incorporated on june 13 1917 . the new company had assets of 3 million 27 employees and land throughout oklahoma and kansas . after discovery of texas s huge panhandle gas field in 1918 and the hugoton field to its north in kansas phillips became increasingly involved in the rapidly developing natural gas industry . in particular the company specialized in extracting liquids from natural gas and by 1925 was the nation s largest producer of natural gas liquids . in 1927 the company s gasoline was being tested on u.s. highway 66 in oklahoma and when it turned out that the car was going 66 mph 106 km h which was fast at the time the company decided to name the new fuel phillips 66 . 5 the first phillips 66 service station opened november 19 1927 at 805 e. central in wichita kansas . 6 this station has been preserved by the local historical society . logo edit the phillips 66 shield logo created for its link to the famous highway of the same number was introduced in 1930 in a black and orange color scheme that would last nearly 30 years . in 1959 phillips introduced a revised version of the shield in red white and black a color scheme still used by phillips 66 co. for the brand . old fashioned phillips 66 station in bassett nebraska from the late 1930s until the 1960s phillips employed registered nurses as highway hostesses who made periodic and random visits to phillips 66 stations within their regions . the women inspected station restroom facilities to ensure they were well cleaned and stocked . the highway hostesses also served as ambassadors for the company by directing motorists to suitable dining and lodging facilities . union 76 employed similar hostesses called the sparkle corps . motor oil edit phillips was among the first oil companies to introduce a multi grade motor oil tropartic in 1954 . such motor oils were designed to be used year round in automobile engines as opposed to single grades for which different grades of motor oils were recommended to meet weather variances . gas stations edit phillips also had gasoline stations in canada s western provinces of alberta british columbia manitoba and saskatchewan under the name pacific 66 until the late 1970s . in 1932 the 76 brand long familiar in the western u.s. was created by union oil company of california later unocal . in 1946 phillips purchased the utah based wasatch oil co. bringing the phillips 66 brand to the northern rocky mountain states and the far eastern portions of oregon and washington . in 1966 phillips entered the west coast market by purchasing tidewater oil co. s refining and marketing properties in that region and rebranding all flying a distributorships and service stations to phillips 66 . in 1967 phillips became the nation s second oil company after texaco to sell and market gasoline in all 50 states by opening a phillips 66 station in anchorage alaska . however phillips experiment in 50 state marketing was short lived . the company withdrew from gasoline marketing in the northeastern u.s. in 1972 although it has been returning ; for example there is a phillips 66 in westport connecticut and hadley massachusetts and the phillips 66 owned 76 gas brand appearing in new jersey new york and pennsylvania and sold the former tidewater properties on the west coast to the oil & shale corporation tosco in 1976 . today phillips 66 primarily operates in the midwest and southwest . mergers edit phillips 66 created a joint venture with chevron corporation s chemicals and plastics division in 2000 as well as acquired arco alaska inc. from british petroleum . it purchased tosco which included circle k convenience stores and union 76 gasoline in 2001 . the 76 brand long familiar in the western and southern u.s. was created by union oil company of california later unocal in 1932 . in 2002 phillips 66 merged with conoco to form conocophillips . the merged company continued marketing gasoline and other products under the phillips 66 conoco and 76 brands . however phillips 66 co. licenses the phillips 66 brand to suncor energy for its phillips 66 branded stations in colorado . 7 marketing edit winged version of logo used for airplane fuel stations in the u.s. this example being in hillsboro oregon the advertising slogan from circa 1973 until the conocophillips merger was the performance company promoting not only the performance of phillips 66 gasoline and other petroleum products but also innovations with asphaltic materials fertilizers and other non automotive products . other slogans through the years have included go first class ... go phillips 66 the gasoline that won the west good things for cars and the people who drive them hard working gas and at phillips 66 it s performance that counts . their current slogan july 2015 is proud to be here . the 2016 slogan will be the power of 2 after consolidation of the family of brands to just phillips 66 and kendall . phillips 66 also was a long time supporter of pbs programming for most of the 1980s . it provided funding for shows such as a.m. weather the search for solutions and onstage with judith somogi . spin off edit in 2012 phillips 66 was spun off from conocophillips . berkshire hathaway trade edit on december 30 2013 it was announced that berkshire hathaway inc. would trade more than 19 million of its 27.2 million shares in phillips 66 to acquire a business that makes additives that help crude oil flow through pipelines . the final number of shares will be determined when the deal actually closes . 8 spin off of natural gas pipelines edit on february 17 2015 phillips 66 sold two natural gas pipeline systems to its affiliate phillips 66 partners for 1.01 billion in cash and stock . 9 operations edit in the united states the company operates conoco phillips 66 and 76 stations . in europe phillips 66 operates jet filling stations in austria denmark germany sweden and the united kingdom . it sold its jet stations in belgium the czech republic finland hungary poland and slovakia to its russian affiliate lukoil . it uses the coop identity in switzerland . the company is the fourth largest finished lubricants supplier in the united states . phillips 66 owns 15 refineries with a net crude oil capacity of 2.2 million barrels per day 350 10 3 m3 d 10 000 branded marketing outlets and 15 000 miles 24 000 km of pipelines . it has 50 percent stake in dcp midstream llc a natural gas gatherers and processors with 7.2 billion cubic feet per day 200 10 6 m3 d of processing capacity . it also owns 50 percent stake in chevron phillips chemical co. refineries edit country name location nelson complexity factor crude oil processing capacity mbd wood river refinery roxana il 9.8 305 alliance refinery belle chasse la 12.0 247 sweeny refinery old ocean tx 13.2 247 bayway refinery linden nj 8.5 238 lake charles refinery westlake la 10.2 239 ponca city refinery ponca city ok 9.8 210 borger refinery borger tx 12.3 73 los angeles refinery carson ca wilmington ca 14.1 139 san francisco refinery rodeo ca arroyo grande ca 13.6 120 ferndale refinery ferndale wa 7.4 100 billings refinery billings mt 14.3 58 humber refinery north lincolnshire 11.6 221 whitegate refinery cork 3.8 71 melaka refinery melaka 9.8 76 miro refinery karlsruhe 7.9 58 denotes joint ventures . crude capacity reflects that proportion . sources mar 31 2011 10 11 12 corporate affairs edit in 2012 after phillips 66 split from conocophillips it moved its operations from the conocophillips headquarters to the pinnacle westchase building 13 a nine story class a office building located on 8.4 acres 3.4 ha of land in westchase houston . 14 this was a temporary headquarters location . 13 in july of 2016 phillips 66 completed their move to a new permanent headquarters on a 14 acre 5.7 ha plot of land in westchase . the new headquarters is between westheimer road and briar forest in close proximity to the sam houston tollway . phillips 66 purchased the land from a subsidiary of thomas properties group . the architect of record is hok . 15 the official groundbreaking was in november 2013 and the opening was completed on schedule . the 1.1 million square foot headquarters includes conference spaces medical facilities food service facilities outdoor recreational space a gymnasium with full size basketball court and training facilities . irrigation of the outdoor landscaping is via a reclaimed water system . the new campus houses 2 200 workers who were spread among six different houston locations including the conocophillips headquarters where several hundred phillips 66 workers had remained post spin off . 13 16 17 on 4 august 2015 it was announced that the company had formed a long term partnership with english non league association football club leamington f.c. . the deal involved amongst other things the renaming of the club s ground from the new windmill ground to the phillips 66 community stadium . 18 references edit a b c d e f 2013 phillips 66 summary annual report . phillips 66 . retrieved 10 january 2014 . conoco says refining co will be phillips 66 . conoco says refining co will be named phillips 66 . reuters . november 10 2011 . retrieved november 10 2011 . fortune 500 list . time inc. retrieved june 22 2015 . global 500 list . time inc. retrieved june 22 2015 . aaseng nathan 2000 . business builders in oil . the oliver press inc. isbn 1 881508 56 0 . p. 104 . phillips 66 . historicpreservationalliance.com . retrieved 6 october 2015 . shell and phillips 66 suncor . suncor.com . retrieved 6 october 2015 . url http www.usatoday.com story money business 2013 12 30 warren buffetts firm phillips 66 unit 4255665 olabi nora 17 february 2015 . phillips 66 partners makes 1 billion midstream acquisition . houston business journal . retrieved 31