Deal to Dramatically Enhance the Quality of Gasoline Products
HOUSTON, Oct. 30, 2003 --- ConocoPhillips [NYSE:COP] has voluntarily made the decision to enhance the quality of its branded gasoline across the United States by signing a global agreement with Ethyl Petroleum Additives, Inc., an affiliate of Ethyl Corporation [NYSE:EY], to supply detergent additives to all gasoline products at the company’s Conoco, Phillips 66 and 76 outlets. Terms of the agreement were not disclosed.
By incorporating a proprietary detergent additive at a very high rate, Conoco and Phillips 66 branded products will join 76 branded products at this high treatment level, greatly exceeding the current industry standard.
The program, which is expected to be in place by the end of the year, should not affect consumers’ wallets. It will, however, clean or maintain their fuel systems during driving, which will help maintain a vehicle’s optimum performance attributes of smooth acceleration, reduced hesitation, and better drivability. Ethyl additives have been proven to increase the performance of gasoline and diesel, among other petroleum products, by improving combustion and cleanliness, which in turn helps improve fuel economy, lower emissions, and extend the useful life of machinery.
“This dramatically exceeds the quality that a majority of the brands in the marketplace offer,” said Mark Harper, president of U.S. Marketing for ConocoPhillips. “Our purpose in doing this is to elevate and distinguish ourselves as the brand of choice among consumers and marketers by providing a quality product that consumers can trust in their vehicles.”
The company markets the Conoco, Phillips 66 and 76 brands through both retail and wholesale operations.
ConocoPhillips is an integrated petroleum company with interests around the world. Headquartered in Houston, the company had approximately 54,800 employees, $82 billion of assets, and $106 billion of annualized revenues as of Sept. 30, 2003. For more information, go to www.conocophillips.com.