The dinuclear chromium complexes [Cr2(N,O)3Cl3] (6) (N,O = 4,4-dimethyl-2-oxazolylmethanolate), [Cr2(N,OMe2)2(EtOH)2Cl4] (7) and [Cr2(N,OMe2)2(H2O)2Cl4] (8) (N,OMe2 = 4,4-dimethyl-2-oxazolyldimethylmethanolate) have been prepared and characterized, including by single-crystal X-ray diffraction. Complex 6 is unsymmetrical, with two chloride ligands terminally bound to one Cr atom, whereas 7 and 8 (in 8·C4H8O) which contain two molecules of coordinated ethanol or water, respectively, are centrosymmetric. These chromium complexes are paramagnetic, and the magnetic properties of 6 and 7 in the solid state correspond to antiferromagnetic behaviour, which was confirmed by DFT calculations of their electronic structures. Complexes 6–8 were evaluated in the catalytic oligomerization and/or polymerization of ethylene with different aluminium-based cocatalysts, and MMAO proved to be the most effective one. In the presence of MMAO, the influence of different reaction parameters, such as the Al/Cr molar ratio, reaction temperature and ethylene pressure, was investigated. Complex 7 showed the highest activity for ethylene polymerization at both 1 atm and 10 atm of ethylene pressure, up to 620 000 g mol−1(Cr) h−1 in the latter case.