• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 3 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 9 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 2 days The Federal Reserve and Money...Aspects which are not widely known
  • 6 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 2 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 2 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 9 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 10 days Goldman Betting on Cryptocurrencies
  • 13 days Сryptocurrency predictions
Oil Prices Bounce Back As Sentiment Shifts

Oil Prices Bounce Back As Sentiment Shifts

Oil prices rebounded on Tuesday…

What Will Cash Flow Look Like For Big Oil Next Year?

What Will Cash Flow Look Like For Big Oil Next Year?

Big oil has generated eye-watering…

Research Team Reports Breakthrough In Metal Gas Batteries

Research Team Reports Breakthrough In Metal Gas Batteries

Researchers at City University of…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Chevron Braces For Activist Investor Fight

Chevron has recently met with representatives of activist investor hedge fund Engine No. 1 to talk about plans for emissions reductions, as the U.S. supermajor is getting ready for a possible proxy battle similar to the one Exxon led —and lost—earlier this year, The Wall Street Journal reported on Friday. 

Engine No. 1, which launched in December 2020, scored a huge victory for activist shareholders at Exxon’s annual general meeting in May 2021, winning three board seats despite the tiny stake that it holds in the oil supermajor. The Engine No. 1 win signaled an unprecedented shift of shareholder sentiment in the oil and gas industry. The vote, according to observers, signals the continued displeasure of a growing number of shareholders with how Exxon is handling the push for lower-carbon energy and calls to do more to mitigate the impact of its business on the environment.  

Now Chevron is bracing for a potential fight with activist investors. The talks between company executives and Engine No. 1 representatives were described as “cordial”, and the activist hedge fund didn’t indicate it would launch an Exxon-like proxy battle at Chevron, the Journal’s sources familiar with the matter said. 

Nevertheless, Chevron has a contingency plan to respond to an event in which an activist investor would try to sway major shareholders to win board seats.

“We have contingency plans to respond to many different types of events, including an activist investor,” Chevron spokesman Braden Reddall told the Journal. 

Chevron also plans to announce in the coming weeks more ambitious targets to cut emissions, the Journal’s sources with knowledge of the plan say. 

According to one of those sources, the U.S. oil and gas giant, however, will stop short of the ‘net-zero business’ pledge that has become very popular among European oil majors, including Shell, BP, Eni, Repsol, Equinor, and TotalEnergies.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News