Chevron Phillips Chemical

Officials at Chevron Phillips Chemical (The Woodlands, TX; CP Chem), a 50-50 joint venture between Chevron and Phillips 66, say its strategy is centered on pursuing competitive feedstocks where that pursuit enables an advantaged position in petrochemicals. For the last 10 years, that strategy meant heavy investment centered in the Mideast, where CP Chem completed several $1-billion-plus megaprojects in Qatar and Saudi Arabia. Attention now turns back to the United States because of the reemergence of a cost-advantaged position thanks to a surging supply of natural gas and natural gas-based feedstocks such as ethane.

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