BOE Report A U.S. judge on Monday dismissed a lawsuit Exxon Mobil had filed against activist group Arjuna Capital after the group had agreed not to pursue future proxy filings at the company’s annual meetings. The lawsuit by the largest U.S. oil company had raised alarm among activists and public pension investors who argued it would muzzle debate among shareholders and public
World Oil (Bloomberg) – bp Plc is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners. Four years into its plan to shift away from oil and gas, bp is under increasing pressure from some shareholders to
Nasdaq Investors that use shareholder resolutions to pressure companies on environmental and social issues said they are worried that an Exxon Mobil XOM.N lawsuit bypassing the U.S. securities regulator could undermine their influence. Under appointees of U.S. President Joe Biden, the Securities and Exchange Commission (SEC) has made it more difficult for companies to prevent these resolutions from moving to a shareholder vote
US News Activist investor Elliott Investment Management is increasing pressure on NRG Energy and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Elliott is in talks with potential candidates to replace the U.S. power company’s CEO as well as other top executives, the report said. In a statement
Nasdaq Activist investor Elliott Investment Management on Monday sent a letter to the board of NRG Energy NRG.N urging the U.S. utility to conduct a review of its home services strategy and add new independent directors. The company’s shares were up 7.14% premarket following the letter. The recommendations will remedy NRG’s underperformance and strategic missteps including the acquisition of Vivint Smart
Oil Price An expected drop in Shell’s net greenhouse gas emissions is not aligned with the Paris Agreement and with a Dutch court order for the now UK-based supermajor to slash emissions much more by 2030, activist investor Follow This says. A recent report from Australia-based Global Climate Insights showed that Shell’s net emissions, after CCUS and offsets, are forecast to be
Reuters Church Commissioners for England joined growing investor campaigns demanding changes at Exxon Mobil Corp and on Thursday backed calls for a board refresh and development of a strategy for the U.S. oil company’s transition to cleaner fuels. The Church Commissioners, who manage the Church of England’s investment fund, said they were “pleased to lend their support” to proposals from
AP News NEW YORK — A changing climate means dramatic risks for the world — and for investments too, the chief of the world’s largest investment manager said Tuesday. To prepare for and protect against those risks, BlackRock CEO Laurence Fink said in his influential annual letter to CEOs that his firm, which manages roughly $7 trillion for investors, will make a
Houston Chronicle Carl Icahn plans to nominate a slate of 10 directors in an attempt to seize control of the board of U.S. oil and gas producer Occidental Petroleum Corp., according to people familiar with the matter. The billionaire investor, who owns a stake in the company valued at about $1 billion, plans to make his move before the Nov.
Reuters HOUSTON (Reuters) – Activist investor Carl Icahn will not have access to Occidental Petroleum Corp’s Anadarko takeover records to support his proxy fight against the oil firm’s board, a Delaware court judge ruled on Thursday. Icahn sued Occidental in Delaware Court of Chancery last May seeking financial records and details of its negotiations with Anadarko. He has since committed
Houston Chronicle Activist investor Carl Icahn said Occidental Petroleum Corp.’s new target for assets sales won’t be achieved without a “fire sale” that includes its pipeline system, Western Midstream Partners LP, which was already shopped to potential buyers earlier this year. Occidental’s Chief Executive Officer Vicki Hollub said Wednesday in a statement she was “highly confident” the company will exceed
Source: Reuters (Reuters) – Marathon Petroleum Corp will release earnings on Thursday at a time when activist investors are pressuring company executives to make major changes, including potentially spinning off its retail gasoline unit that enjoyed strong margins in the most recent quarter. It has been 13 months since Marathon closed its $23 billion purchase of Andeavor Corp that gave
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