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Article

3 Aug 2009

Author:
Genocide Intervention Network and Investors Against Genocide

Role in PetroChina IPO Raises Concerns on Hormats’ Nomination for State Dept Post [USA]

Genocide Intervention Network and Investors Against Genocide sent a letter to...the Chairman of the Senate Foreign Relations Committee and...regarding the pending nomination of Robert Hormats as Undersecretary of State for Economic, Energy and Agricultural Affairs. In the letter, the groups raised concerns about the instrumental role that Hormats played in reassuring the public and the financial markets about PetroChina in preparation for that company’s initial public offering in 2000...PetroChina and its parent are widely recognized as linked to the genocide and ongoing human rights abuses in Darfur, Sudan... “Mr. Hormats was instrumental in PetroChina acquiring the gloss of respectability that has led to PetroChina being widely held by US financial institutions,” states Eric Cohen, Chairperson of Investors Against Genocide.