Moody-Stuart Garners Top Honors

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Moody-Stuart Garners Top Honors

07/05/2001
Sir Mark Moody-Stuart, chairman of the Royal Dutch/Shell Group, will be honored the 2001 Petroleum Executive of the Year by the Energy Intelligence Group (EIG).

The award, decided by senior oil industry executives around the world, will be presented to Moody-Stuart at a banquet October 29th in London. Moody-Stuart was chosen because of the leadership and initiative he has displayed during his long tenure at Royal Dutch/Shell, which ended last week with his retirement, said EIG President Thomas Wallin.

Since becoming chairman, Moody-Stuart has played a pivotal role in the success and improved performance of the London-based oil company. Under his leadership, Royal Dutch/Shell has reduced costs, enhanced profitability and expanded operations, Wallin said. In 2000, the group boosted profits by 85 percent from the previous year thanks to the combination of these policies and the strength of oil and gas prices. Costs have also been cut by $4 billion in the last three years, more rapidly and more deeply than projected.

Past winners of the award are Sir John Browne, chairman and CEO of BP (1997); Luis Giusti, former head of Petroleos de Venezuela (1998); Lucio Noto, former vice chairman of ExxonMobil Inc. (1999); and Thierry Desmarest, chairman and CEO of Total Fina Elf (2000).