Clarence P Cazalot Jr Net Worth is30.3 $Million
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Birth Name: Clarence P. Cazalot, Jr.
Birth Date: 1950
Birth Place: New Orleans, Louisiana, United States
Nationality: United States
Alma Mater: Louisiana State University
Occupation: Chief Executive Officer
Boards: Marathon Oil Corporation, Baker Hughes, Oil and Natural Gas Industry Labor-Management Committee
Title: President and Chief Executive Officer of Marathon Oil Corporation
Residence: Houston, Texas
Term: January 1, 2002 – present
Awards: Woodrow Wilson Award (2008), url
Clarence P. Cazalot, Junior (born 1950) is president and chief executive of the Houston-based Marathon Oil Corporation. Since he took over control of the company in 2002, Marathon has expanded abroad with investments in the nascent gas industry of Equatorial Guinea and oil in Gabon, Libya and Norway. Its upstream earnings from overseas projects have been tripled and Marathon is beginning to sell off the smaller assets.
A trained geologist, Cazalot doesn't come from a tycoon background and spent much of his career doing technical work for Texaco. However, he benefited from the decades of experience in offshore drilling and, particularly, in laying pipelines, getting three high-profile roles managing Texaco's international production divisions. After joining Marathon in 2000, he quickly improved the company's bargaining situation with a somewhat cooperative approach to developing energy markets and pricing, instead putting a strategic focus on technology.
Throughout his career, Cazalot has financed acquisitions of foreign supplies by creating good relationships with research facilities and lowering production costs rather than seeking international lending. His corporate focus is now on gas commercialization, and while it has to deliver the company any "breakthrough" technologies, he has had a great deal of success in the past with oil completion technologies. Marathon's subsidiary, Marathon Ashland Petroleum, is today the fifth largest petroleum refiner in the United States.
It has also improved the company's debt-position and made Cazalot an immensely wealthy man. He earned a reported $6.5 million in compensation in 2008, making him nominally one of the highest paid executives in Houston. He is a member of the board of Baker Hughes and the Oil and Natural Gas Industry Labor-Management Committee. He is a general member of the Council on Competitiveness, the exclusive All-American Wildcatters Association, a number of other industry associations, and several l

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Clarence P Cazalot Jr Latest News

Spectra Energy names Marathon Oil executive chairman to board

Spectra Energy Corp (SE) announced the appointment of Clarence P. Cazalot Jr. to its board of directors, effective December 1. Cazalot currently serves as executive chairman of the board of directors for Marathon Oil Corporation (MRO), and will retire from ...
Posted: November 18, 2013, 5:09 am

Marathon Oil chairman buys BR condo for $2.3 million

Clarence P. Cazalot Jr., the executive chairman of Marathon Oil, has purchased a penthouse condominium in The Crescent at University Lake for nearly $2.3 million. Cazalot and his wife, Margaret Ann Andrews Cazalot, bought the Stanford Avenue property from ...
Posted: September 30, 2013, 7:35 am

Marathon Oil names Lee Tillman chief executive

Tillman as chief executive officer and president effective Aug. 1. Tillman, who was vice president of engineering for ExxonMobil Development Company, will replace Clarence P. Cazalot, Jr., who will retire at the end of 2013 after almost 14 years as CEO.
Posted: June 13, 2013, 1:56 am
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