Mulva, James J. 1946–

International Directory of Business Biographies, (2005) by Dawn Laney

James J. Mulva 1946–

President and chief executive officer, ConocoPhillips

Nationality: American.

Born: June 19, 1946, in Oshkosh, Wisconsin.

Education: University of Texas, BBA, 1968; MBA, 1969.

Family: Married Miriam (maiden name unknown), 1969; children: two.

Career: Phillips Petroleum Company, 1973–1974, management trainee and treasurer; 1974–1976, assistant treasurer; 1976–1980, manager of foreign exchange and investment; 1980–1984, vice president and treasurer of Europe/Africa; 1984–1985, manager of corporate planning; 1985–1986, assistant treasurer; 1986–1988, treasurer; 1988–1990, vice president and treasurer; 1990–1999, chief financial officer; 1994–1999, president and chief operating officer; 1999, vice chairman; 1999–2002, chairman, president, and chief executive officer; ConocoPhillips, 2002–, president and chief executive officer.

Awards: Named Petroleum Executive of the Year by a representative group of senior oil executives at the 23rd annual Oil and Money Conference, 2002.

Address: ConocoPhillips, 600 North Dairy Ashford, P.O. Box 2197, Houston, Texas 77252-2197; http://www.conocophillips.com.

■ James Mulva served as president and chief executive officer of Phillips Petroleum Company. During his tenure at Phillips, Mulva guided the company into profitable markets in Europe and Russia and headed the successful merger of Phillips with Conoco to form ConocoPhillips. Coworkers and industry peers described Mulva as a capable leader who was able to implement new technology, learn from other companies' mistakes, and direct financial decisions to meet and exceed corporate goals.

AN INTRODUCTION TO THE IMPORTANCE OF OIL

After graduating from the University of Texas with a BBA in finance and an MBA in business administration, Mulva immediately

James J. Mulva. AP/Wide World Photos .

began a tour of duty in the U.S. Navy. During his first two years in the Navy, he was stationed on Bahrain Island. At that time, Bahrain and Saudi Arabia were producing enormous amounts of oil and natural gas, and Mulva was able to learn about the size and importance of the energy industry. After exposure to the production side of the sector, Mulva became intrigued by the complexity and geopolitical impact of the financial aspects of the energy industry.

USING FINANCIAL SKILLS IN A CORPORATE SETTING

GOING GLOBAL

Mulva worked carefully through successive positions at Phillips to build the company's long-term security and assets. This work called for an understanding of the global market and culture before many U.S. companies in the sector had ventured outside the United States. As vice president and treasurer of the Europe/Africa division of Phillips from 1980 to 1984, Mulva had to make critical oil-related decisions about where to focus assets. During a time when many oil companies were drilling in the Middle East, Mulva avoided Middle Eastern oil purchases and concentrated instead on new finds in other world locations. For example, in 1994 Phillips began focusing on the first offshore oil field in China to begin oil production. After becoming CEO of Phillips in 1999, Mulva continued this trend to keep assets focused in the North Sea, Venezuela, Asia, North America, Kazakhstan, and Russia. By concentrating on new markets in Europe, South America, and Asia, Mulva made a stable long-term investment that avoided acquisition of assets in volatile Middle East reserves.

Mulva did not completely avoid volatile markets. In June 2004, when Russia began to privatize its oil industry, Mulva strongly pursued a 25 percent share of the Russian oil company Lukoil. He believed that he would have the ability to make the companies more efficient and profitable and increase assets while stabilizing the Russian economy. Although Mulva felt that his plan would enhance the business and social climate in Russia, the long-term success of Mulva's Russian proposal was still unknown in the early 2000s.

Beyond purchasing assets in foreign markets, Mulva tried to pass on to his counterparts in foreign oil companies some of the knowledge he gained by entering the global market early in its development. Mulva focused on executives in foreign oil companies in such countries as Russia and China by helping them train their management personnel, handle new technology, and cooperate with transnational companies.

NOT JUST GAS

Although Phillips Petroleum Corporation was not immediately associated with plastics production, a large portion of the global industry Mulva was working with in Asia included production of polyethylene plastics made from natural gas liquids. In 1996 Mulva assisted Phillips in creating a joint venture agreement to produce polyethylene plastic in China. By the time Mulva became CEO in 1999, Phillips was also involved in the manufacture of polyolefin plastics and other chemicals.

NEW TECHNOLOGY

Mulva's career in the petroleum industry spanned several technological changes in the way the industry obtained oil. The land-based oil derricks in Oklahoma discovered by the Phillips brothers had been replaced by offshore drilling and creation of pipelines. New refinery processes meant application of new technology and, with it, new regulations. In the face of these changes, Mulva advocated creation of a federal system of regulations that refiners should accept "because that is what their customers, stakeholders, and constituents are demanding" ( Oil Daily , March 25, 2003).