Word: sinopec
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...realistic prospect of success.” However, Bok simultaneously allocated a million dollars for black South Africans to study at Harvard and for Harvard affiliates to work for the public interest in South Africa.Upon his return, Bok will again face the issue of divestment, this time with Sinopec, a business with ties to Sudan. Vagts says that the cases are extremely different, at least from a moral perspective. He explains that the South African companies—while taking part in an oppressive regime—also allowed black workers to receive an education they would otherwise be denied...
...request for comment yesterday. Harvard divested its endowment holdings in PetroChina, a subsidiary of the Chinese National Petroleum Corporation, in early 2005, after mounting pressure from students, faculty, and alumni. But the University has maintained shares in other businesses with ties to the Sudanese government, including the oil companies Sinopec and Royal Dutch Shell. The Khartoum government has helped fund militia groups responsible for over 200,000 deaths in Sudan over the past three years, according to the U.S. government. Last week, Secretary of State Condoleezza Rice labeled the atrocities a “genocide.” Rebecca...
...there’s one thing you might look back on and regret, it would be” not getting involved, Simmons said. Harvard divested from PetroChina, a company with financial ties to the Sudanese government, last April. But the University still has investments in oil giant Sinopec and other firms that do business with the Darfur regime. Workers at Ambassador Bolton’s office said HDAG’s work did not go unnoticed. “We’ve gotten a lot of calls concerning [Sudan] today,” said a woman who answered...
...Crimson reported earlier this month that Harvard increased its holdings in another Sudan-linked Chinese oil firm, Sinopec, by 1,150 shares during the last quarter of 2005. As of its latest filings with federal regulators, Harvard owned a total of 134,050 shares in Sinopec. Those shares are now worth over $8.1 million...
...weigh in. “I never bite the hand the quotes me,” Bok said.WILL HE TURN BACK THE CLOCK?Despite last April’s landmark decision to divest from PetroChina, the University has maintained its investments in other companies linked to Sudan, including Sinopec, an oil firm accused of close ties to the Khartoum regime.Sinopec is the major contractor on a pipeline that will carry oil from the Melut Basin in southern Sudan to a Red Sea port—a project that could boost Sudan’s petroleum exports substantially, according...