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Article

23 Feb 2007

Author:
Sudan Divestment Taskforce [USA]

[PDF] Response to Berkshire Hathaway’s statement on its holdings in PetroChina Company Limited, the majority-owned subsidiary of China National Petroleum Corporation

While the Sudan Divestment holdings Task Force appreciates Berkshire Hathaway’s willingness to comment on the company’s holdings in PetroChina, we seek to clarify certain inaccuracies in the company’s statement. This document briefly summarizes the detrimental role of PetroChina’s parent company, China National Petroleum Corporation (CNPC), in Sudan’s Darfur genocide and then traces the intimate, opaque, and symbiotic relationship between PetroChina and CNPC. The document then clarifies the most likely outcome in Sudan if shareholders ratcheted up pressure on PetroChina. Finally, the document lays out the Sudan Divestment Task Force’s specific request of Berkshire Hathaway, namely one of shareholder engagement with PetroChina. [also refers to Petronas, Oil & Natural Gas Company (ONGC)]