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16 Apr 2009

Randy Woods, Business News Americas

Chevron shareholders to vote on environmental report

In a new chapter in the trial over alleged environmental damage in Ecuador, Chevron's…shareholders will decide May 27 whether the board must prepare a report on the California-based oil major's compliance with host country policies...[I]t is widely seen as a strategy to answer outstanding questions - and perhaps pressure the company - on the US$27bn trial. US securities regulator SEC rejected Chevron's attempt to block the report…Chevron, however, pointed out that the proposal uses Ecuador as a proof point but does not call for a study on Ecuador given that the company does not operate in the South American country. [also refers to Texaco (part of Chevron), Petroecuador]

Part of the following timelines

Big US public pension funds concerned by lawsuit against Chevron over pollution in Ecuador

Texaco/Chevron lawsuits (re Ecuador)