Mobil Corporation CEO, Lucio Noto, Named Petroleum Executive of the Year
17 November 1999
Mobil Corporation CEO, Lucio Noto, Named Petroleum Executive of the Year
FAIRFAX, Va.--Nov. 17, 1999--Lucio A. Noto, Chairman and CEO of Mobil Corporation, was named the 1999 recipient of the Petroleum Executive of the Year Award on Tuesday at the 20th Oil and Money Conference, co-hosted by Energy Intelligence Group (EIG) and the International Herald Tribune. Fellow senior executives from the international oil and gas industry selected Noto as this year's award recipient. Luis E. Giusti Lopez, former Chairman and CEO of Venezuela's state oil company, Petroleos de Venezuela and last year's award recipient, presented Noto with the award at the conference in London.Noto's peers, said EIG, honored him with this award because of the leadership he has displayed in Mobil's proposed merger with Exxon, his determination to focus on shareholder value, and his major contribution to advancing public policy debate on energy-related issues. The group also highlighted Noto's prominence within the industry in promoting open trade relations, taking a vocal position over the use of unilateral sanctions, addressing environmental concerns and fostering cultural awareness.
In remarks following the receipt of his award Noto stated that, while the oil industry appears to be recovering from a difficult period -- oil prices, inflation, and constrained demand growth continue to present challenges to the industry and its leaders. Commenting on mounting pressure against expanding energy supplies to new and developing markets, Noto said that the success of the energy industry supports the economic and social success of communities around the world. "The industry must never shortchange its efforts to build public awareness of the wealth we produce, the jobs we create, the quality of life we make possible -- to give us the credibility and wider support necessary to defend against the more unreasonable demands advance on us by third parties with their own agendas."
Stressing environmental responsibility, Noto said, "I feel strongly that the industry has a key role to play in the protection of the physical environment. I also believe that as an industry we have a strong track record in environmental protection, both in terms of investment and improved performance. Environmental responsibility, including the contentious debate about climate change, is a survival issue for the industry. We have a good case. We certainly have the technical and scientific expertise to help identify reasonable choices."
Lucio Noto joined Mobil in 1962 and has been chairman and chief executive officer since 1994. He was president and chief operating officer from 1993 until March 1, 1998. He has been a director of Mobil Oil Corporation since 1986 and chairman of the board and chief executive officer of Mobil Oil Corporation since 1994. Noto is chairman of Mobil's Executive Committee.
Noto is also a Director on the Board of International Business Machines Corporation, Philip Morris Companies, and the American Petroleum Institute. He is a member of the Urban Institute and the Trilateral Commission. Noto graduated with a bachelor of science in physics from the University of Notre Dame and earned his Masters in Business Administration from Cornell University.
This year's Selection Committee for the Petroleum Executive of the Year Award included: Peter Bijur, Chairman and CEO of Texaco; Sir John Browne, CEO of BP Amoco, plc.; Thierry Desmarest, Chairman and CEO of Total; Luis Giusti, former Chairman and CEO of Petroleos de Venezuela; Yuji Idemitsu, President of Idemitsu Kosan; Pierre Jungels, CEO of Enterprise Oil; Hiroshi Kawamura, Executive VP of Mitsubishi Corporation; Adrian Lajous, CEO of Pemex; Vittorio Mincato, CEO of ENI; Masahisa Naitoh, President of Itochu Corporation; and Nadir Sultan, Deputy Chairman and CEO of Kuwait Petroleum Corporation.
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