CP Chem

Chevron Phillips Chemical (CP Chem), subject of this week’s cover story (p. 15), was formed 12 years ago at the tail end of a wave of US petrochemical consolidation. Exxon and Dow Chemical would absorb Mobil and Union Carbide, respectively, and Lyondell Chemical, Millennium, and OyxChem pooled petrochemical assets into Equistar, which would eventually be taken over by Lyondell. The combination of the chemical assets of Chevron and Phillips, which at the time created a company with $6 billion in revenues, created a producer that would be able to keep pace...

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