The American oil groups PHILIPS PETROLEUM (turnover $21.2 billion in 2000 with 38,500 employed) and CONOCO (turnover $39.3 billion in 2000 with 20,000 employed) have merged, giving rise to the world's six largest company in this sector. The operation will be carried out via the acquisition of CONOCO by PHILIPS for the sum of $15.2 billion. Named CONOCOPHILIPS, the new entity will comprise 19,000 service stations.