ConocoPhillips officially splits into 2 companies

ConocoPhillips formally splits into two smaller firms today. Incoming ConocoPhillips Chairman and CEO Ryan Lance has vowed to boost the exploration-and-production unit's output by up to 5% yearly over the next five years while maintaining its legacy of providing top dividends. Phillips 66, the new refining entity, will challenge Valero as the biggest independent refiner in the U.S., as it tops Valero in assets.

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ConocoPhillips split becomes official as company 'shrinks to grow' - Houston Chronicle

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