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Phillips 66 operates as an independent downstream energy company. The company operates in three segments: Refining and Marketing (R&M), Midstream, and Chemicals. The R&M segment purchases, refines, markets, and transports crude oil and petroleum products, such as gasolines, distillates, and aviation fuels primarily in the United States, Europe, and Asia. This segment also engages in the power generation operations. In addition, it manufactures and sells various specialty products, including pipeline flow improvers and anode material for high-power lithium-ion batteries, which are marketed under the LiquidPower and CPreme brand names. As of February 11, 2013, it had 15,000 miles of pipeline systems and 10,000 owned or supplied branded marketing outlets. The Midstream segment gathers, processes, transports, and markets natural gas; and transports, fractionates, and markets natural gas liquids in the United States. This segment markets residue gas to electric utilities, industrial users, and gas marketing companies. It separates NGL into individual components, such as ethane, propane, and butane, which are marketed as chemical feedstock, fuel, or blendstock. This segment also includes an interstate natural gas transmission line. The Chemicals segment manufactures and markets petrochemicals and plastics. This segment produces and markets ethylene, propylene, and other olefin products; and aromatics products, such as benzene, styrene, paraxylene and cyclohexane, as well as polystyrene and styrene-butadiene copolymers. It also manufactures and markets various specialty chemical products, including organosulfur chemicals, solvents, catalysts, drilling chemicals, mining chemicals, and engineering plastics and compounds. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.