BlackRock, JPMorgan Seen as Oil Boycotters by West Virginia

West Virginia’s state treasurer warned six financial companies, including JPMorgan Chase & Co., BlackRock Inc. and Wells Fargo & Co., that they could become ineligible for state banking contracts after he determined that they are engaged in a “boycott” of the fossil fuels industry.

State Treasurer Riley Moore, a Republican, sent letters on Friday to six financial firms saying that his office has made an initial determination that the companies appear to be engaged in boycotts of fossil-fuel companies.

The notices were also sent to Goldman Sachs Group Inc., Morgan Stanley, and U.S. Bancorp, according to documents obtained through ...