Santa Monica, Calif – With protesters rallying outside, shareholders of Occidental Petroleum Corp. rejected a resolution asking the company to take a more critical look at its operations in northeastern Colombia.
The resolution was brought by advocates for Colombia’s indigenous U’wa tribe at the company’s annual shareholders meeting. The measure would have required Occidental to examine the legal and financial pitfalls of its Cano Limon oil drilling project.
The U’wa say the land being used for the project belongs to them – an allegation Oxy denies.
The U’wa also claim Occidental is polluting the land and that the oil pipeline has made an inviting target for anti-government terrorists who have repeatedly damaged the pipeline.
The Cano Limon project is co-owned by Occidental and the Colombian government. Test drilling began Nov. 3.
Occidental has described itself as a contractor working for the Colombian government and insists it is being unfairly targeted by the protests, which have been building since 1992.
Last year, U’wa advocates repeatedly interrupted the annual meeting with cries of “lies” and “shame.”
After listening to U’wa supporters Friday, Occidental chairman and chief executive Ray Irani expressed frustration, saying his company respects host countries.
“I don’t understand why you keep pursuing this issue here,” Irani told the few shareholders who represented the U’wa at the meeting. “Please pursue it in Colombia.”
Other shareholders expressed impatience and hostility toward the protesters.
“Why don’t they just get a job?” said Eileen Bankoff, a Los Angeles resident who has held Oxy stock for 20 years. “They’re rude and obnoxious and remind me of people who stand in front of abortion places.”
But U’wa advocates outside the meeting pledged to continue their demonstrations.
Actor Cary Elwes was among them.
“If enough shareholders divest from Occidental, the company might think twice about continuing drilling,” Elwes said as demonstrators milled about wearing costumes and wielding bongo drums.
“This is very much a David-against-Goliath situation.”
