Oil Companies Under Increasing Pressure From Shareholders

Occidental Petroleum shareholders called for an annual report, beginning in 2018, to include an assessment of the risks the company could face due to global warming, specifically a temperature increase of 2 degrees Celsius.

Prior to the vote, in its proxy statement to shareholders, the company urged a vote against the proposal. The proposal, which passed, is nonbinding.

Occidental Petroleum is a major oil producer in the Permian Basin of West Texas and New Mexico.  It also has operations in Colombia, Oman and Qatar.

Source:  Ailworth, Erin, Occidential Holders Back Climate Review, Wall Street Journal, May 13-14, 2017