ConocoPhillips’ Revenue By Segment (2016-2022)

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This statistic covers ConocoPhillips’ Revenue By Segment, split across Alaska, Asia Pacific, and the Middle East, Canada, Europe, and North Africa, Corporate and Other, and Lower 48, reported on a quarterly basis from Q1 2016 onwards.
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This statistic covers ConocoPhillips’ Revenue By Segment, split across Alaska, Asia Pacific, and the Middle East, Canada, Europe, and North Africa, Corporate and Other, and Lower 48, reported on a quarterly basis from Q1 2016 onwards.

ConocoPhillips generates revenue from the following segments:

  • Alaska
  • Asia, Pacific, and the Middle East
  • Canada
  • Europe and North Africa
  • Corporate and Other
  • Lower 48

ConocoPhillips’ Revenue By Segment

Segment  Q4 2019 Q4 2020 YoY Growth Revenue Share Q4 2020
Alaska $1,350 $1,010 -25.18% 17.02%
Asia Pacific, and Middle East $1,070 $433 -59.53% 7.30%
Canada $454 $840 85.02% 14.15%
Europe and North Africa $1,020 $599 -41.27% 10.09%
Corporate and Other $5 $3 -40% 0.05%
Lower 48 $3,800 $3,050 -19.74% 51.39%
Total Revenue $7,699 $5,935 -22.91% 100.00%

(all figures in millions, except percentages)

ConocoPhillips’ total revenue declined from $7699 million in Q4 2019 to $5935 million in Q4 2020, marking a decline of 22.91% on a year-on-year basis. During this period, the main reason for the decline in revenue was lower realized commodity prices and lower demand for energy products like crude oil and natural gas because of the COVID-19 pandemic.

Alaska

In Alaska, the company operates through its subsidiary ConocoPhillips Alaska. The Alaska segment explores and produces natural gas, natural gas liquids, and crude oil. In Alaska, the company operates the Kruparuk oil field and the Prudhoe Bay oil field and employs more than 1,000 people in Alaska. ConocoPhillips is the largest producer of gas and oil in Alaska. In Alaska, the company’s main office is located in Anchorage, Alaska, United States.

ConocoPhillips’ revenue from the Alaska segment declined from $1350 million in Q4 2019 to $1010 million in Q4 2020, a decline of 25.18% on a year-on-year basis. During this period, Alaska contributed 17.02% to ConocoPhillips’ total revenue.

Asia Pacific and the Middle East

ConocoPhillips’ Asia Pacific and Middle East segment has operations in China, Qatar, Malaysia, Indonesia, Australia, and Timor-Leste. ConocoPhillips’ revenue from this segment declined from $1070 million in Q4 2019 to $433 million in Q4 2020, marking a decline of 59.53% on a year-on-year basis. In Q4 2020, the Asia Pacific and the Middle East contributed 7.30% to ConocoPhillips’ total revenue. 

In Indonesia, ConocoPhillips operates three onshore blocks namely Kualakurun PSC, Corridor Block PSC, and South Jambi PSC. In China, the company has operations in Bohai Bay and the South China Sea. In Australia, ConocoPhillips operates the Darwin LNG facility located at Wickham Point, Darwin. The company has formed a strategic partnership with Sinopec and Origin Energy to produce LNG from coal bed methane basins in Queensland, Australia. In Qatar, ConocoPhillips’ production facilities are located in Doha.

Canada

In Canada, the company operates through its subsidiary ConocoPhillips Canada. ConocoPhillips Canada’s main office is situated in Calgary, Alberta. ConocoPhillips’ revenue from this segment rose from $454 million in Q4 2019 to $840 million in Q4 2020, an increase of 85.02% on a year-on-year basis. During this period, Canada contributed 14.15% to ConocoPhillips’ total revenue.

Europe and North Africa

In Europe and North Africa, ConocoPhillips has operations in the United Kingdom, Norway, and Libya. ConocoPhillips revenue from Europe and North Africa declined from $1020 million in Q4 2019 to $599 million in Q4 2020, marking a decline of 41.27% on a year-on-year basis. In Q4 2020, Europe and North Africa contributed 10.09% to the company’s total revenue.

Corporate and Other

ConocoPhillips revenue from the Corporate and Other segments declined from $5 million in Q4 2019 to $3 million in Q4 2020, a decline of 40% on a year-on-year basis. During this period, this segment contributed 0.05% to ConocoPhillips’ total revenue. Corporate and Other includes licensing revenues, interest expense, and corporate overheads.

Lower 48

ConocoPhillips’ Lower 48 segment includes the company’s operations in regions like Mexico, Dakota, Colorado, Oklahoma, Texas, and Wyoming. The major focus areas of this segment include the Permian Basin, Anadarko Basin, Bakken, and Eagle Ford. The Anadarko Basin is located in Texas and Western Oklahoma. ConocoPhillips’ natural gas operations are located in the Wind River Basin, Wyoming. The company also operates the Lost Cabin Gas Plant and Lost Creek Pipeline is located in Wyoming.

ConocoPhillips’ revenue from Lower 48 segment declined from $3800 million in Q4 2019 to $3050 million in Q4 2020, marking a decline of 19.74% on a year-on-year basis. In Q4 2020, Lower 48 segment contributed 51.39% to the company’s total revenue.

Company Overview

ConocoPhillips is an American multinational energy company. The company was founded by Frank Phillips in 1875. ConocoPhillips’ main office is situated in Houston Energy Corridor, Houston, Texas, United States. ConocoPhillips employs more than 9,700 people worldwide. Ryan Lance is the current Chairman and CEO of ConocoPhillips. The company’s product portfolio includes Petroleum, Natural Gas, Natural Gas Liquids, and Bitumen.

ConocoPhillips faces tough competition from Devon Energy, ExxonMobil, Occidental Petroleum, Shell, Continental Resources, Chiyoda, Woodside Petroleum, and EOG Resources. 

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