The global oil and gas market was once dominated by a select group of Western energy companies called “The Seven Sisters” . The unparalleled influence of these International Oil Companies (IOC) was broken in a wave of nationalism in the Middle East and South America. The birth of the National Oil Companies (NOC) was a significant gamechanger that has had a lasting impact on the global oil and gas market. The energy transition, however, does not have the same priority for these companies due to their inherent differences. Recently, it was made public that several Dutch conglomerates, including Shell, provided funding to a climate change denier in the nineties to organize a global network. The current political environment in Western societies would, most likely, exclude a similar chain of events. Activist shareholders have become a force to reckon with. For three consecutive years, an activist investor group filed resolutions […]