Word: sinopec
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...Beijing. China plans to build a strategic oil reserve, and the country has several pipelines planned that would theoretically provide supplies from fields in Russia, Central Asia and Burma. But China's state-controlled oil industry, consisting of three major companies (China National Petroleum Corp. [CNPC], CNOOC and Sinopec), and numerous overlapping bureaucracies have yet to develop a clear, comprehensive energy policy...
...Just as Sinopec fails to consider genocide sufficient reason to cease operations in Sudan, the company recently cemented a cozy oil and natural gas deal with Iran, a country whose determination to develop a nuclear weapons program threatens regional security—to say nothing of its sponsorship of terrorist organizations such as Hamas, Hezbollah and al Qaeda. The deal offers China access to Iran’s Yadavaran oilfield and a 30 year supply of liquefied natural...
Harvard does not have to be so passive about where it invests its endowment funds, or how it approaches emerging political and security risk categories. Harvard is part of an institutional investor community that exacerbates human rights abuses in Sudan and sustains terrorist-sponsoring states by investing in PetroChina, Sinopec, and dozens of other companies active in the world’s pariah states. According to the Center for Security Policy’s Divest Sudan initiative, 87 U.S. public pension funds have invested more than $90 billion dollars in 83 public companies that maintain active business projects in Sudan...
Harvard’s investment holdings in PetroChina and Sinopec should raise more than a few eyebrows on a campus that strives to protect any infringement of rights, no matter how small. In the 1980’s, students equated Harvard’s holdings in companies active in South Africa with university complicity in apartheid. Is the university not today, for the same reasons, complicit in the genocide in Sudan and the sponsorship of terrorism in states such as Iran...
Activists have also begun to criticize another Chinsese oil firm, Sinopec, which resumed their ventures in Sudan last week after cutting its ties with the government there several years ago. Harvard owned 10,000 shares of Sinopec worth $205,000 on Sept. 30, according to its latest filing...