Entire Report
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ConocoPhillips 2005 Annual Report |
Cover - Page 3
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Cover
Table of Contents
Highlights
Worldwide Operations
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Pages 4 - 7
(151KB .PDF) |
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Letter to Shareholders – Chairman and CEO Jim Mulva reflects on the company's success in 2005 and provides a preview of future projects and plans.
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Pages 8 - 9
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Financial Review – The company continued to focus on cost discipline, capital discipline and financial discipline in order to sustain and grow total shareholder return.
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Pages 10 - 15
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Operating Review Introduction
Exploration and Production (E&P) – By delivering value and growth opportunities and performing well in 2005, E&P allowed the company to fully benefit from higher crude oil and natural gas prices.
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Pages 16 - 18
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Refining and Marketing (R&M) – In 2005, R&M announced its plans for significant investments to the global refining business and continued to perform well, maintaining its status as an industry leader in return on capital employed.
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Page 19
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LUKOIL Investment – The broad-based strategic alliance between ConocoPhillips and LUKOIL was further strengthened in 2005 for the mutual benefit of the shareholders of both firms.
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Page 20
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Midstream – ConocoPhillips reshaped its Midstream segment in 2005, increasing its ownership in Duke Energy Field Services to 50 percent and retaining key assets in its own portfolio.
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Page 21
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Chemicals – By focusing on safe, reliable operations, cost-cutting measures and profitable growth, Chevron Phillips Chemical Company has steadily improved its performance.
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Pages 22
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Emerging Businesses – Differentiation through innovation is just one of the ways ConocoPhillips has become an industry leader in the development and use of new technologies.
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Page 23
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Commercial – The Commercial organization added significant value to the company in 2005 through asset optimization, as well as supply and trading of its commodity portfolio.
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Pages 24 - 29
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Corporate Staffs – Performance is key when it comes to providing technology and business support and ensuring compliance with laws and regulations, as well as fulfilling the company's commitment to sustainable development and the hiring and training of a quality work force. Corporate staffs play an integral role in the ConocoPhillips business model and support the corporate strategy of creating shareholder value through tangible contributions to the company's bottom line. |
Page 30 - 109
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Financial and Operating Results
Management's Discussion and Analysis
Selected Financial Data, Selected Quarterly Financial Data and Quarterly Common Stock Prices and Cash Dividends Per Share
Reports of Management and Independent Registered Public Accounting Firm
Consolidated Financial Statements
Oil and Gas Operations
5-Year Financial Review
5-Year Operating Review
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Page 112 - Back Cover
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Board of Directors and Officers
Glossary
Stockholder Information |