ConocoPhillips is the third-largest integrated energy company in the United States, based on market capitalization and oil and natural gas reserves. It is the fourth-largest refiner and the sixth-largest reserves holder of nongovernment-controlled companies. ConocoPhillips is known worldwide for its technological expertise in reservoir management and exploration, 3-D Seismic technology, high-grade petroleum coke upgrading and sulfur removal.
In 2003, ConocoPhillips and Qatar Petroleum signed a Heads of Agreement for the development of Qatargas 3, a large-scale LNG project in Ras Laffan Industrial City, Qatar. ConocoPhillips also participates in the chemical sector through its 50 percent ownership in Chevron Phillips Chemical Company LLC (CPChem), a joint venture with Chevron Corporation. By joining the USQBC, Chevron aims to increase their operations in the State of Qatar as well as the GCC region at large.