ConocoPhillips to Return Sponsorship Rights to NASCAR.Business/Energy/Sports Editors HOUSTON--(BUSINESS WIRE)--Jan. 28, 2003 ConocoPhillips (NYSE NYSE See: New York Stock Exchange :COP), owner of the 76 gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by brand, in agreement with NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. , has elected not to renew the brand's sponsorship as the "Official Fuel of NASCAR." The relationship between the organizations, which lasted for more than 50 years, will end by Dec. 31, 2003. The familiar orange and blue 76 Ball will continue to be prominently displayed in the official fuel category for the 2003 season. During this time, 76 will fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. all of its contractual obligations as it has in the past, including providing high quality 76 Racing Gasoline at all Winston Cup, Busch Grand National and Craftsman Truck Series events. The recent merger of Conoco Inc. and Phillips Petroleum Company Phillips Petroleum Company was founded in 1917 by L.E. Phillips and Frank Phillips, of Bartlesville, Oklahoma. Their younger brother, Waite Phillips was the benefactor of Philmont Scout Ranch. Phillips Petroleum was headquartered in Bartlesville, Oklahoma. combined many brands within the new company's portfolio. The gasoline marketing strategy for ConocoPhillips will include several regional brands rather than a single national brand. "The 76 Brand has enjoyed a 50-plus year relationship with NASCAR and has benefited greatly from this relationship," said Mark Harper Mark James Harper (born 26 February 1970) British politician and accountant. He is the Conservative Member of Parliament for Forest of Dean. Early life and career , president of wholesale marketing for ConocoPhillips. "Due to changing business strategies, we are unable to take full advantage of NASCAR's national and international marketing platform. We believe it is in the best interests of both ConocoPhillips and NASCAR to return our official fuel rights to NASCAR." ConocoPhillips is an integrated petroleum company with interests around the world. Headquartered in Houston, the company had approximately 58,000 employees and $77 billion of assets as of Sept. 30, 2002. For more information, go to www.conocophillips.com. |
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