PETROCHINA CO ADS (PTR)
From ValueWiki
Sudan’s oil wealth has played a major part in enabling an otherwise poor country to fund the expensive bombers, helicopters and arms supplies which have allowed the Sudanese government to launch aerial attacks on towns and villages and fund militias to fight its proxy war [in Darfur]. By earning increasing oil revenues, the Sudanese government continues to be in a position to deploy considerable resources to military activities – be it in the form of paying salaries, or acquiring equipment, such as helicopter gunships, armaments, and associated hardware. The government has used increases in oil revenues to fund a military capacity that has in turn been used to conduct war in Darfur, including carrying out violations of international human rights and humanitarian law.
- From the Yale ACIR report, quoting Amnesty International, "Arming the Perpetrators of Grave Abuses in Darfur," November 2004
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Company Analysis
For the six months ended 30 June 2006, PetroChina Company Limited's revenues increased 25% to RMB326.55B. Net income increased 27% to RMB82.19B. Revenues reflect an increase in the selling prices and higher sales volume of crude oil, natural gas and certain other refinery products.
News Feed
| 01/07/09 3:01 pm | 3 Top Three-Digit Stocks (at Motley Fool) |
| 01/07/09 6:01 am | PetroChina downgraded by Standpoint (Briefing.com) |
| 01/06/09 10:01 am | Transition Phase for Oil and Gas Stocks (at Seeking Alpha) |
| 01/05/09 12:01 pm | ADR Report-ADRs flat as Asia, Latam offset Europe (at Reuters) |
| 01/05/09 12:01 am | CNPC Changqing produces 26 pct more oil, gas in 2008 (at Reuters) |
| 01/02/09 4:01 pm | ADR Report-ADRs start 2009 on the rise (at Reuters) |
| 01/02/09 9:01 am | Hong Kong Rings In 2009 With Gains (at Forbes.com) |
| 12/31/08 3:12 pm | ADR Report-ADRs push higher at end of dismal year (at Reuters) |
| 12/31/08 11:12 am | Not Listening to Buffett Cost Me Thousands (at Motley Fool) |
| 12/31/08 7:12 am | China fuel stocks rise further to records in Nov (at Reuters) |
Risks
The government of Sudan continues to pursue genocide in Darfur, frustrating several long years of diplomat efforts to bring peace and protection to civilians there. Sudan's oil revenue is providing arms and funding for the genocide, rather than economic development for the poor people of Sudan. Despite the atrocities in Darfur, Fidelity, through its mutual funds, not only has been a major investor in oil companies operating in Sudan, but it has been significantly increasing its holdings and is the largest holder of PetroChina (PTR) on the NYSE.
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Options
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