Phillips Petroleum was an American oil company founded in 1917 by Frank Phillips and his brother L.E. Phillips. The company was involved in the exploration, production, and refining of oil and natural gas. It became one of the largest independent oil companies in the United States, known for its innovative techniques in the energy sector. In 2002, Phillips Petroleum merged with Conoco Inc. to form ConocoPhillips, creating one of the largest publicly traded oil and gas companies in the world. The merger allowed the new company to expand its operations and enhance its capabilities in various energy markets globally.