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Phillips’ Chairman, CEO Mulva honored by industry peers
James J. Mulva, chairman and CEO of Phillips Petroleum Co., has been named the 2002 Petroleum Executive of the Year. He was nominated and selected for the honor by his peers in the international oil and natural gas industry.
Mulva will receive the award at a special ceremony during the 23rd annual Oil and Money Conference Nov. 5 in London. The conference is co-hosted by the Energy Intelligence Group and the International Herald Tribune.
Tom Wallin, president of EIG, says Mulva was chosen for the award in recognition of the aggressive steps he has taken to grow Phillips and position it to compete long-term in an increasingly difficult business environment. Since Mulva became CEO in 1999, Phillips’ asset base has grown from $15 billion to one that will exceed $75 billion when the company’s merger with Conoco is completed later this year.
Phillips’ growth came through a series of strategic transactions. Through two joint ventures, the company created the premier midstream business in the United States and established one of the largest chemicals companies in the world. These were followed by two major acquisitions — the purchase of ARCO’s Alaska business and Tosco’s refining and marketing assets. BP’s Browne on selection committee These transactions set the stage for Phillips’ most important move, its merger with Conoco. Expected to be completed in the second half of the year, the merger will create ConocoPhillips, the sixth-largest energy company in the world, based on reserves, and the fifth-largest global refining and marketing company.
The selection committee for the Petroleum Executive of the Year Award included Sir John Browne, group chief executive of BP; Thierry Desmarest, chairman and CEO of TotalFinaElf; Luis E. Giusti, senior advisor at the Center for Strategic and International Studies; Vittorio Mincato, CEO of ENI; Sir Mark Moody-Stuart, former chairman and managing director of Royal Dutch/Shell; Masahisa Naitoh, vice chairman of Itochu Corp.; and Nader H. Sultan, deputy chairman and CEO of Kuwait Petroleum Corp.
Past recipients include Moody-Stuart in 2001, Desmarest in 2000, Lucio Noto, former vice chairman of ExxonMobil, in 1999, Giusti in 1998, and Browne in 1997.
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