Word: petrochina
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...Harvard has publicly announced its direct divestment from two Chinese oil companies, PetroChina and Sinopec. But as of December 31, 2006—the date of Harvard’s most recent filing—the University maintained indirect holdings worth $13.4 million in these companies as well as Petronas, a Malaysian oil firm linked to Sudan, through its investment in funds managed by the British bank Barclays...
...Harvard has apparently sold nearly a third of its shares in the Barclays fund, though it appears the University still holds $3.5 million in PetroChina stock and $2.3 million in Sinopec stock through the fund...
...Harvard’s holdings in Barclays’ iSHARES FTSE/Xinhua China 25 fund—which also invests in the two Chinese companies—increased over the last quarter by 10 percent, resulting in another $5.2 million in PetroChina stock and $2.3 million in Sinopec for the University...
...recent filing also reveals $90,000 in indirect holdings through Barclays’ iShares MSCI Malaysia Index fund in Petronas, a Malaysian company. Petronas, along with PetroChina and Sinopec, is part of a consortium known as Petrodar, which has invested over $1 billion in the Sudanese oil industry...
...University announced its divestment from PetroChina in April 2005. Nearly a year later, Harvard issued another statement, announcing the decision to divest from Sinopec—also know as the China Petroleum & Chemical Corp.—given “deep concerns about the grievous crisis that persists in the Darfur region of Sudan...