Word: sinopec
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Murder and genocide are categorically intolerable. Ultimately, it was that maxim that led Harvard to divest itself of its holdings in Sinopec, and it is why we resoundingly support and applaud Harvard’s announcement last month that it will sell its Sinopec shares...
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...
...however, realized that this logic is flawed—no utility calculus can negate the fact that Harvard’s money was linked with the ultimate evil of murder. Combined with Sinopec’s larger presence in Sudan that has developed in the past year, divestment from Sinopec was the only proper course of action. We applaud the University’s divestment. That it did so before considerable student pressure developed (although a petition drive was amassing signatures) is a particularly promising sign...
Last month Yale divested from seven firms with Sudan ties, including PetroChina, Sinopec, and five other stocks that are not listed in Harvard’s SEC filings. “Not that anyone is keeping score or anything, but Yale 7, Harvard 2,” Sabine J. Ronc ’07, co-founder of the Harvard Darfur Action Group, wrote in an e-mail yesterday. “We know we can do better,” Ronc added...
...Sinopec officials could not be reached at the company’s New York office yesterday...