Some of the world s biggest oil companies are facing stark pressure from activists concerned about climate change, prompting a string of startling developments on Wednesday.
At Exxon Mobil, an activist hedge fund won two board seats, while Chevron investors voted to force the company to cut emissions and a Dutch judge order Shell to drastically cut carbon.
The Exxon vote followed a fierce campaign from Engine No. 1, an upstart hedge fund owning a tiny fraction of the oil giant s stock, with both sides making appeals to shareholders until the final minute, and the company delaying Wednesday s vote by an hour.
Exxon scrambles to stave off dissidents as board fight nears climax
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Odd Coupling: Cimarex And Cabot Join In $17B Merger Of Unlikely Oil And Gas Equals
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