ConocoPhillips’ S Zorb™ Sulfur Removal Technology to Be Installed at Giant Industries’ Yorktown Refinery

This is news concerning ConocoPhillips but issued by a ConocoPhillips business unit, ConocoPhillips Technology Solutions, and is posted here for informational purposes.

HOUSTON, March 31, 2006 – ConocoPhillips [NYSE:COP] today announced its proprietary S Zorb™ Sulfur Removal Technology (SRT) will be installed at Giant Industries, Inc.’s Yorktown refinery in York County, Va. The refinery will use the 30,000-barrel-per-day (BPD) S Zorb unit to desulfurize gasoline blendstocks. Its design will allow for a flexibility of feedstocks from a variety of refinery sources, including light coker naphtha. Projected start-up is slated for 2007. The project will be managed by D-CŌK, a subsidiary of Triten Corp.

"We believe S Zorb SRT offers the advantage of removing sulfur from our gasoline pool while providing substantial economic benefits due to the flexibility of the possible feedstocks," said Leroy Crow, executive vice president, Giant Industries.

S Zorb SRT is an advanced process technology that removes sulfur from gasoline streams through the use of a novel, regenerable sorbent. It was developed to help oil companies comply with the U.S. Environmental Protection Agency’s Tier 2 sulfur regulatory levels. Beginning in 2004, sulfur content for gasoline sold in the U.S. was lowered. Eventually, gasoline sulfur levels will be limited to not more than 30 parts per million (ppm) on average. The new S Zorb SRT unit at the Yorktown refinery will enable the refinery to cost-effectively achieve compliance as well as meet future low-sulfur mandates, while minimizing refinery octane pool losses and hydrogen consumption normally associated with gasoline desulfurization.

ConocoPhillips is an integrated oil company with interests around the world. It currently is the second largest refiner in the U.S. and the fifth-largest worldwide. For more information, go to www.conocophillips.com.

Giant Industries, Inc., (NYSE:GI), headquartered in Scottsdale, Ariz., is a refiner and marketer of petroleum products. The company owns and operates one Virginia and two New Mexico crude oil refineries with a total refining capacity of 104,500 BPD. It also owns and operates a crude oil gathering pipeline system based in Farmington, N.M., which services the New Mexico refineries, finished products distribution terminals in Albuquerque, N.M., and Flagstaff, Ariz., a fleet of crude oil and finished product truck transports and a chain of retail service station/convenience stores in New Mexico, Colorado and Arizona. Giant also is the parent company of Phoenix Fuel Co., Inc. an Arizona wholesale petroleum products distributor. For more information, go to www.giant.com.

CONTACT: Wendy Olson 281-293-3028

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