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Clarence P. Cazalot Jr. (born 1950) was pr … Clarence P. Cazalot Jr. (born 1950) was 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 . 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 . He is a general member of the Council on Competitiveness, the exclusive , a number of other industry associations, and several local business groups in the Greater Houston area.siness groups in the Greater Houston area.
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Clarence P. Cazalot Jr.
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1950
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Clarence Cazalot
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American
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Retired Chief Executive Officer
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Clarence P. Cazalot Jr. (born 1950) was pr … Clarence P. Cazalot Jr. (born 1950) was 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. beginning to sell off the smaller assets.
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Clarence P. Cazalot Jr.
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