BP's shareholders have denounced further investigations on Canadian oil sands project as the company has been planning to press ahead with the developments.
The resolution put forth yesterday, at the annual meeting, gave way to the investors’ opposition to oil sands development in Canada. The opposition in BP’s oil sand project has made way ahead of that in Royal Dutch Shell and others.
BP said that a total of 85.2% votes have been observed to be against the oil sands resolution while 5.6 % in its favor and 9.2% with no opinion.
Environmental campaigners and activists have been claiming triumph in bringing the issue to the forefront in such a way that it will ensure that none of the oil company’s would now be able to ignore it.
Carl-Henric Svanberg, BP’s Chairman, clarified that the results of the voting campaign do not necessarily imply that the company considers the campaign to be useless.
"It only means that we think the concerns raised are in hand. I want you to feel that this is not a matter of winning or losing", he said.
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