Conoco Inc.. The Group's principal activity is the operation of three segments: Upstream, Downstream and Emerging businesses. Upstream activities include exploring for, developing, producing and selling crude oil, natural gas and natural gas liquids. It also includes the Syncrude mining operations. Downstream activities include refining crude oil and other feedstock into petroleum products; buying and selling crude oil and refined products and transportation. Emerging business activities include the development of new businesses beyond its traditional operations with the potential to contribute substantially to long-term growth. The Group operates in over 40 countries. The Group signed a definitive agreement to merge with Phillips Petroleum Company on 18-Nov-2001. Refined products accounted for 57% of 2001 revenues; natural gas, 21%; crude oil, 15%; canadian syncrude, nom and other, 7%.