The events of May 26 2021 look like a defining moment for the oil and gas industry. In the space of a few hours, three decisions crystallised trends that had been building for years at the large international oil companies, showing the pressure they are under to address climate change and the energy transition. In the US, 61% of the votes at Chevron’s annual meeting were cast in favour of a proposal that the company should “substantially reduce” the greenhouse gas emissions created by its products in the medium to long term. Shortly afterwards, shareholders at ExxonMobil elected three directors nominated by the hedge ... (full story)