Word: petrodar
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PetroChina’s parent company, the China National Petroleum Corporation, and Sinopec are both members of a consortium known as Petrodar that is aiding the Sudanese government in the development of the east African country’s oil industry. The companies’ combined investment in the Sudanese oil industry totals to well over $1 billion, and profits from the industry are a major source of revenue for the Sudanese government...
Another member of the Petrodar partnership is the Malaysian oil firm Petronas. Harvard indirectly owns an estimated $402,000 stake in Petronas via another arrangement with Barclays, the MSCI Malaysia Index Fund...
PetroChina’s parent company, the China National Petroleum Corporation, and Sinopec are both members of a consortium known as Petrodar that is aiding the Sudanese government in the development of the east African country’s oil industry. The companies’ combined investment in the Sudanese oil industry totals to well over $1 billion, and profits from the industry are a major source of revenue for the Sudanese government...
Since Harvard’s divestment from PetroChina one year ago, Sinopec’s involvement in the Sudan has grown substantially. Though the exact relationship is complex because of a web of partnerships and holding companies, it is well established that Sinopec is a partner in Petrodar, which began to drill for oil in the Sudan early this year, with production expected to rise to 250,000 barrels per day by the end of the year. In the Petrodar venture, Sinopec is a partner with both the Sudanese government and the Chinese National Petroleum Company, the parent company...