Word: sinopec
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Dates: during 2000-2009
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Although Harvard has said that it would sell its shares in the two firms, PetroChina and Sinopec, it appears that Harvard’s holdings in both firms have actually increased since the divestitures were announced...
Nearly a year later, the University announced that it would divest its stock in Sinopec, also known as the China Petroleum & Chemical Corp. Harvard said at the time that “the particular combination of circumstances bearing on Sinopec Corporation’s involvement in oil production activities in Sudan warrants the unusual step of divestment...
...Harvard still indirectly owns significant quantities of stock in both PetroChina and Sinopec...
According to the most recent data provided by Barclays, the China fund had invested 8.4 percent of its assets in PetroChina and 4.2 percent in Sinopec, meaning that Harvard holds about $4.5 million of stock in PetroChina and $2.2 million in Sinopec through that arrangement...
Even at its present size, Harvard’s estimated investment in the iShares China fund accounts for just 0.18 percent of the University's $29.2 billion endowment, and the stakes in PetroChina and Sinopec compose just 0.02 percent of Harvard's total wealth...