ConocoPhillips splitting into two companies

ConocoPhillips, one of the nation's largest integrated oil and gas companies, recently announced that its refining/marketing and exploration/production arms will be separated into two stand-alone business entities.  An article in the Tulsa World estimated that even after the split, the spun-off refining entity "will be the largest refiner even and will eclipse Valero."  This split arrives on the heels of a similar announcement by Marathon in January 2011.

Global, National