A coin toss determined whose name would go first when Chevron and Phillips Petroleum (now Phillips 66) formed 50-50 joint venture Chevron Phillips Chemical Company in 2000. Among the largest US petrochemical firms, the company produces ethylene, propylene, polyethylene, and polypropylene -- sometimes used as building blocks for the company's other products such as pipe. Chevron Phillips Chemical also produces aromatics such as benzene and styrene, specialty chemicals such as acetylene black (a form of carbon black), and mining chemicals. The company has several petrochemical joint ventures in the Middle East, including Saudi Chevron Phillips Company (50%) and Qatar Chemical Company (not quite 50%).