Slammed for Investing in Sudanese Oil Partner
NEW YORK (AdAge.com, May 14, 2007) -- Fidelity Investments is exercising its marketing muscle these days -- just not the way the Save Darfur Coalition would like. The financial-services company has pressured CNN and Newsweek to hold off running coalition ads critical of Fidelity's investment in PetroChina, a company whose parent, China National Petroleum, is one of Sudan's largest oil-industry partners.
uuworld.org : uua pressures fidelity over sudanese investments
. . . Boston-based Fidelity has major investments in two Chinese oil companies, PetroChina and Sinopec. China, which is the world’s fastest growing oil consumer, depends heavily on Sudanese oil, with revenues supporting the Sudanese government. The Sudanese government, which also receives arms from China, is supporting militias attempting to crush a rebellion in the Darfur region by killing all non-Arab Darfurians. The slaughter, which has left more than 200,000 dead and 2.5 million homeless, has been declared a genocide by U.S. President George W. Bush.For more information, please visit Divest for Darfur and send your sentiments to Fidelity. If you have investments, check your portfolio for Fidelity. Follow this story and divest for Darfur if you have to.