Exxon Mobil lobbyist admits to denying climate science in lobbying efforts July 1, 2021 A senior Exxon Mobil lobbyist has been captured on camera revealing how the oil giant is using its power and influence to water down US climate legislation. The footage was obtained by Greenpeace UK’s investigators, who posed as head-hunters to obtain the information from one of Exxon Mobil’s most senior Washington lobbyists. Exxon Mobil has [...]
Activist hedge fund wins Exxon board seats in seismic day for big oil May 26, 2021 The oil industry was rocked today as hedge fund minnow Engine No. 1 saw two of its nominees elected to behemoth Exxon Mobil’s famously insular board. Engine No. 1’s victory, which came after a months-long fight with the Texas-based firm, could pile pressure on the company to speed up its diversification away from fossil fuels. [...]
PIRC sides with activist investor in Exxon boardroom battle May 12, 2021 Governance advisor Pensions & Investment Research Consultants (PIRC) has recommended Exxon Mobil shareholders vote in favour of four hedge fund board nominees, adding further fuel to the battle for Exxon’s boardroom. Exxon and activist hedge fund Engine No. 1 are battling over board seats and Exxon’s strategy to meet demands for lower-carbon energy. The fund has nominated four board [...]
Legal & General backs activist investor over Exxon climate concerns May 11, 2021 Legal & General, one of Exxon Mobil’s major investors, has said it will back an activist hedge fund at Exxon’s shareholder meeting later this month, after the fund raised climate-related concerns about Exxon’s practices. US oil producer Exxon is battling hedge fund Engine No. 1 over four seats on its 12-member board and the direction [...]
Activists urge Blackrock and Vanguard to vote against Exxon CEO over climate concerns May 4, 2021 Climate activists have bombarded Exxon Mobil’s top shareholders with calls and emails, urging them to vote against the reelection of chief exec Darren Woods and lead independent director Kenneth Frazier at an upcoming shareholder meeting. Blackrock and Vanguard Group hold more than 13 per cent of Exxon share combined. Exxon is currently embroiled in battle [...]
It’s a record for Exxon and Shell October 28, 2005 Big oil got bigger yesterday as Exxon Mobile and Shell reported the largest third-quarter profits in corporate history — a combined $18.9bn (£10.6bn) — within hours of each other yesterday. Anglo-Dutch company Shell set the tone of the day for the oil business when it reported that its three-month net profit leapt 68 per cent [...]