ExxonMobil shareholders yesterday supported their Board of Directors and voted overwhelmingly to reject a proxy measure for additional disclosures on a worst-case scenario oil-spill response plan for the company’s Guyana operations.
Even as the company highlighted to its shareholders that Guyana has been one of its main revenue earners and its operations here were on target to ensure a solid balance sheet as projected, some 86.7 per cent of shareholders voted against an “Additional Report on Worst-case Spill and Response Plans” resolution.
Shareholders had requested that the Company issue a report evaluating the economic, human, and environmental impacts of a worst-case oil spill from its operations offshore of Guyana. The report should be prepared at reasonable expense, omit proprietary or privileged information, and clarify the extent of the Company’s cleanup response commitments given the potential for severe impact on Caribbean economies.