Home | News    Wednesday 16 May 2007

Fidelity cuts PetroChina ADR holdings by 91 pct over Darfur

separation
increase
decrease
separation
separation

May 15, 2007 (BOSTON) — Fidelity Investments, the world’s No.1 mutual fund company, reduced its holdings of PetroChina Co. Ltd.’s American depositary receipts (ADRs) by 91 percent in the first quarter of 2007, according to a regulatory filing on Tuesday.

Fidelity has faced rising pressure from human rights groups to divest its stakes in PetroChina , Asia’s top oil and gas producer, because of the Chinese company’s links to Sudan, which rights groups accuse of human rights violations in Sudan’s troubled region of Darfur.

Fidelity’s 69-page filing showed it owned 420,916 ADRs of PetroChina as of March 31, compared with about 4.5 million ADRs as of end-December.

A Fidelity spokesman declined comment about the reason for the reduction in PetroChina holdings. The Boston-based fund company has previously countered criticism of its PetroChina investments by saying it was complying with all laws governing investments in Sudan.

(Reuters/ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


2015 elections are not a priority for Sudanese 2014-07-23 04:35:55 By Mahmoud A. Suleiman July 22, 2014 - This article comes against the backdrop of the news that reported the announcement of the National Elections Commission (NEC) that it had prepared the (...)

Bashir rests assured laden-burden on the Sudanese people’s shoulders 2014-07-14 06:09:16 By Mahmoud A. Suleiman July 13, 2014 - Omer al-Bashir believes that his continuing in power better protects him from tracking and prosecution by the International Criminal Court (ICC). He clings (...)

Lack of equity: A cause of many conflicts in Africa 2014-07-14 06:05:33 By Francis Ayul Yuar Nyok July 13, 2014 - It should be kept in mind that Africa crisis is not unique, more or less all the countries of the Sub-Sarah Africa are plague with acute poverty and in (...)


MORE








Latest Press Releases


Memory, healing and transformation in South Sudan 2014-07-23 05:55:08 Memory, Healing and Transformation in South Sudan A Working Paper by David K. Deng July 2014 Contents Introduction 1 What is memorialization? 2 Timing 2 Risks 3 Principles 3 Integrity 3 (...)

South Sudan: Independence Day marred by ongoing war crimes and looming famine 2014-07-09 01:39:56 AMNESTY INTERNATIONAL PRESS RELEASE 8 July 2014 South Sudan: Independence Day marred by ongoing war crimes and looming famine · Both sides to the conflict committing war crimes and crimes (...)

UN urged to probe alleged cover-ups and manipulations by its mission in Darfur 2014-06-26 05:40:52 Strengthen Peacekeeping Mission’s Rights Reporting, Civilian Protection (New York, June 25, 2014) – The United Nations secretary-general should investigate alleged cover-ups and manipulation of (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.