Reuters

Exxon board debates dropping several major oil and gas projects – WSJ

Activist investor Engine No. 1 in May shocked the oil-and-gas industry when three of its four nominees were elected to the board by Exxon shareholders, who were frustrated by weak returns and the company’s flagging attention to climate concerns. The board members expressed concerns about some projects, including a $30 billion liquefied natural gas development in Mozambique and another multibillion-dollar gas project in Vietnam, the WSJ report said, citing people familiar with the matter. Exxon did not immediately respond to a Reuters request for comment.

LEAVE A REPLY

Please enter your comment!
Please enter your name here