Company News

Nokes Retiring at ConocoPhillips

Gallogly replacing him as head of R&M

HOUSTON -- As reported yesterday in a CSP Daily News Flash, Jim W. Nokes, executive vice president of refining, marketing, supply and transportation for ConocoPhillips, has elected to retire after 36 years of service. His retirement will be effective April 30, 2006.

James L. Gallogly, currently president and CEO of Chevron Phillips Chemical Co. LLC, will become executive vice president of refining, marketing and transportation for ConocoPhillips, effective April 1, 2006.

After joining Conoco in 1970, Nokes progressed through the [image-nocss] company's pipeline subsidiary, natural gas and gas processing department, and UK exploration and production affiliate before being named vice president of North American refining and marketing operations in 1994. He began his current role in 1999.

Gallogly began his career with Phillips Petroleum Co. in 1980, serving in a variety of legal, finance and project management roles before being named vice president of North America production in 1995. He assumed the position of vice president of plastics in 1997, then senior vice president of chemicals in 1999, leading to his current position in 2000.

Jim Nokes has been a valuable asset to ConocoPhillips for nearly four decades. His vision, drive and leadership have transformed the company's downstream operations into a world-scale business with industry-leading returns. We wish him the very best in his retirement, said Jim Mulva, chairman and CEO.

I am confident that our downstream business will continue its strong performance under the direction of Jim Gallogly, Mulva added. Our downstream strategy remains the same. We are focused on expanding our worldwide refining position as well as our U.S. capacity and conversion capability, and on strengthening integration with the upstream side of the company. As always, safety and efficiency remain key to our daily operations.

Announcement of Gallogly's replacement is pending. But effective April 1,

John E. Lowe, currently executive vice president of planning, strategy and corporate affairs, will become executive vice president of commercial. In this role, Lowe will have responsibility for optimizing the value of the company's assets through supply and trading of its commodity portfolio.

Also, Philip L. Frederickson, currently executive vice president of commercial, will become executive vice president of planning, strategy and corporate affairs. Frederickson will have responsibility for planning and strategic transactions, government affairs and communications.

And Ryan M. Lance, currently president of strategy, integration and specialty businesses for refining, marketing, supply and transportation, will become senior vice president of technology and major projects. Lance will become a member of ConocoPhillips' management committee and will have responsibility for corporate oversight of the company's corporate technology areas, as well as large projects.

Lance joined ARCO in 1984 and held a number of engineering and operations positions in Alaska, California and Texas. After Phillips' acquisition of ARCO Alaska in 2000, he was named vice president of ConocoPhillips' Lower 48 operations in 2002. In 2003, he was named president of the company's Asia Pacific exploration and production operations, before assuming his current role in June 2005.

Gallogly, Lowe, Frederickson and Lance will report to Mulva, the company said.

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