A group of ExxonMobil shareholders, including large public US pension funds, said Wednesday they planned to raise the heat on oil giant ExxonMobil over its climate change policies.
The investors, who include the California State Teachers Retirement System (CalSTRS) and the New York City Employees Retirement System among others, said they would seek to reform ExxonMobil's position on global warming at the annual shareholder meeting on May 30.
The investors told reporters that they plan to seek the removal of Michael Boskin, the head of ExxonMobil's Public Issues Committee, from the board of directors of the world's largest oil company, because he has the power to change ExxonMobil's stance on climate change.
Oil Surged On 9-month High on US Move Against Iran
Crude oil prices rose in Asian trading Friday amid worries about tension in major oil producers Nigeria and Iran.
Light, sweet crude for July delivery rose 21 cents to US$64.39 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore. The contract dipped US$1.59 to settle at US$64.18 a barrel Thursday.
Oil climbed above $71 to a nine-month high on Thursday after after U.S. warships put on a show of force off Iran's coast on Wednesday.
London Brent crude , a more accurate indicator than U.S. oil, gained 64 cents to $71.24 a barrel by 0811 GMT, after hitting a fresh nine-month high of $71.29.
U.S. light sweet crude traded up 20 cents at $65.97 .
Iran Gives Belarus Its Oil Reserves for Free
Iran granted Belarus greater access to oil reserves as the presidents of the countries, both at odds with the United States, met Monday.
Iranian President Mahmoud Ahmadinejad said, "The strengthening of relations between Belarus and Iran fosters support for regional and global security," Ahmadinejad said in televised comments.
Belarus President Alexander Lukashenko said his country is "ready for cooperation in all directions."
The investors, who include the California State Teachers Retirement System (CalSTRS) and the New York City Employees Retirement System among others, said they would seek to reform ExxonMobil's position on global warming at the annual shareholder meeting on May 30.
The investors told reporters that they plan to seek the removal of Michael Boskin, the head of ExxonMobil's Public Issues Committee, from the board of directors of the world's largest oil company, because he has the power to change ExxonMobil's stance on climate change.
Oil Surged On 9-month High on US Move Against Iran
Crude oil prices rose in Asian trading Friday amid worries about tension in major oil producers Nigeria and Iran.
Light, sweet crude for July delivery rose 21 cents to US$64.39 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore. The contract dipped US$1.59 to settle at US$64.18 a barrel Thursday.
Oil climbed above $71 to a nine-month high on Thursday after after U.S. warships put on a show of force off Iran's coast on Wednesday.
London Brent crude , a more accurate indicator than U.S. oil, gained 64 cents to $71.24 a barrel by 0811 GMT, after hitting a fresh nine-month high of $71.29.
U.S. light sweet crude traded up 20 cents at $65.97 .
Iran Gives Belarus Its Oil Reserves for Free
Iran granted Belarus greater access to oil reserves as the presidents of the countries, both at odds with the United States, met Monday.
Iranian President Mahmoud Ahmadinejad said, "The strengthening of relations between Belarus and Iran fosters support for regional and global security," Ahmadinejad said in televised comments.
Belarus President Alexander Lukashenko said his country is "ready for cooperation in all directions."
