REUTERS EVENTS Chevron has no plans to shrink conventional energy business – Reuters

REUTERS EVENTS Chevron has no plans to shrink conventional energy business – Reuters

June 24 (Reuters) - U.S. oil major Chevron Corp (CVX.N) has no plans to shrink its oil and gas business for wind and solar energy unlike some rivals, Chief Financial Officer Pierre Breber said on Thursday, amid pressure from shareholders to lower carbon emissions.

Major oil and gas producers are facing pressure from investors to lower greenhouse gas emissions and adapt their business to a lower carbon future.

Chevron's shareholders in May voted in favor of a non-binding resolution calling on the firm to cut emissions generated by the use of its products. That same day, a Dutch court ordered rival Royal Dutch Shell (RDSa.L)to deepen its emissions cuts and Exxon Mobil (XOM.N)lost three board seats to an activist fund advocating for a strategy that addresses climate change. read more