Word: petrochina
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...PetroChina is a spin-off of the China National Petroleum Company, which is involved in a more than $1 billion joint venture with the Sudanese government to boost that country’s oil production. Revenues from the venture are filling the coffers of the Sudanese regime, which the U.S. government says is guilty of genocide against its own people...
Quarterly filings with the U.S. Securities and Exchange Commission (SEC) show the University purchased its first 60,000 shares of PetroChina between July 1 and Sept. 30, 2003. That investment reaped almost immediate rewards for the University as the stock nearly doubled in value over the next three months...
...March 31, 2004, Harvard had increased its holdings in the company to 80,500 shares at a total value of just over $4.1 million. Shares of PetroChina closed at $53.74 on the New York Stock Exchange Friday, up more than 23 percent over the past four months...
China National Petroleum garnered $2.9 billion in proceeds from the April 2000 initial public offering (IPO) of off-shoot PetroChina...
...that time, PetroChina’s chairman Ma Fucai said that a “firewall” between PetroChina and its parent company would ensure that none of the IPO revenues would go toward funding ventures in Sudan...