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Developments:
Billionaire investor Warren Buffett is coming under pressure to sell his shares in PetroChina, whose parent company, the China National Petroleum Corp, has major interests in Sudanese oil. The Sudan Divestment Task Force, which has already persuaded Harvard University and other investors to withdraw their investments in PetroChina, believes the latter is helping fuel the Darfur genocide. As well as providing huge revenues to Sudan, most of which are spent on the military, PetroChina's stake in the country means its government can count on China's support in international negotiations to stop the slaughter.
Buffett doesn't think divesting will make any difference, as a subsidiary cannot control its parent, but Harvard found significant overlap between PetroChina and CNPC policies and there are rumours that the two are planning to integrate.
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