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Selections from news on Berkshire Hathaway selling PetroChina shares

 Press releases from Investors Against Genocide

Statement from Investors Against Genocide - October 19, 2007

 

Yesterday, Warren Buffett dismissed concerns about the connection between the genocide in Darfur and PetroChina, one of the worst oil companies helping to funding the genocide.   His statements indicate that Mr. Buffett, like many financial managers, has avoided his ethical responsibilities in the face of genocide.  Contrary to assertions otherwise, ethical responsibility and fiduciary responsibility are not mutually exclusive.   We will continue our work to change the mindset of financial managers, like Mr. Buffett, who appear blind to the fact that the vast majority of Americans want their investments to be genocide-free.

Statement from Investors Against Genocide - October 9, 2007


We welcome the news of yet more major sales, on September 21 and 25, by Berkshire Hathaway of part of its holdings in PetroChina, the worst of the four major oil companies funding the genocide in Darfur, Sudan. We now know that since July 11, Berkshire Hathaway has sold over 1.18 billion shares of PetroChina, a reduction of 51%, so far. These shares would be worth more than $2.17 billion, if valued at today's price. 

With each additional sale of PetroChina, only a few of which have been reported, we get an increasingly clear demonstration that Berkshire Hathaway is on a path to divest its holdings of PetroChina.  Note that the next filing by Berkshire Hathaway on the Hong Kong Stock Exchange will be when their holding reduce to lower than 5.0% of the H shares outstanding.  After that filing, we may not see another update on Berkshire Hathaway's PetroChina holding until it publishes its annual report in early 2008.  As a result, unless Berkshire Hathaway makes public statements on its sales of PetroChina, it will be able to reduce its holdings without the media attention we are seeing now.

Berkshire Hathaway's remaining holdings of PetroChina are worth over $2.0 billion.  We continue to hope that these sales by the largest single shareholder of PetroChina, send a clear signal to PetroChina, the government of China and the government of Sudan that large investors, like Mr. Buffett, and hundreds of thousands of small investors, do not want their money to be complicit in genocide. While Mr. Buffett is rightfully keeping quiet about his motives, it is increasingly clear that his pattern of sales indicates that he no longer wants to be associated with an investment that helps to fund genocide. We are encouraged by Berkshire Hathaway’s actions.

Americans want their investments to be genocide-free and American financial institutions should respond accordingly. There are many opportunities in the global market for good investments with excellent returns without investing in genocide.

Statement from Investors Against Genocide - October 3, 2007


We welcome the news of yet another major sale on September 13 by Berkshire Hathaway of part of its holdings in PetroChina, the worst of the four major oil companies funding the genocide in Darfur, Sudan. We now know that since July 11, Berkshire Hathaway has sold over 642 million shares of PetroChina. Since July 11, the total value of Berkshire Hathaway's holdings in PetroChina has ben reduced by $1.25 billion.

With every new report of sales of PetroChina, only a few of which have been reported, we get an increasingly clear demonstration that Berkshire Hathaway is on a path to divest its holdings of PetroChina.

We continue to hope that these sales by the largest single shareholder of PetroChina, send a clear signal to PetroChina, the government of China and the government of Sudan that large investors, like Mr. Buffett, and hundreds of thousands of small investors, do not want their money to be complicit in genocide. While Mr. Buffett is rightfully keeping quiet about his motives, it is increasingly clear that his pattern of sales indicates that he no longer wants to be associated with an investment that helps to fund genocide. We are encouraged by Berkshire Hathaway’s actions.

Americans want their investments to be genocide-free and American financial institutions should respond accordingly. There are many opportunities in the global market for good investments with excellent returns without investing in genocide.

Statement from Investors Against Genocide - September 20, 2007


We welcome the news of yet another major sale on September 9 by Berkshire Hathaway of part of its holdings in PetroChina, the worst of the four major oil companies funding the genocide in Darfur, Sudan. We now know that since July 11, Berkshire Hathaway has sold over 445 million shares of PetroChina. Since July 11, the total value of Berkshire Hathaway's holdings in PetroChina has ben reduced by over $1 billion.

This steady series of sales of PetroChina, only a few of which have been reported, is an increasingly clear demonstration of divestment by Berkshire Hathaway. We hope that these sales by the largest single shareholder of PetroChina, send a clear signal to PetroChina, the government of China and the government of Sudan that large investors, like Mr. Buffett, and hundreds of thousands of small investors, do not want their money to be complicit in genocide. While Mr. Buffett is rightfully keeping quiet about his motives, it is increasingly clear that his pattern of sales indicates that he no longer wants to be associated with an investment that helps to fund genocide. We are encouraged by Berkshire Hathaway’s actions. Americans want their investments to be genocide-free and American financial institutions should respond accordingly. There are many opportunities in the global market for good investments with excellent returns without investing in genocide.

Statement from Investors Against Genocide - September 12, 2007


We are encouraged by the news of Berkshire Hathaway's sale of 92 million shares worth $140 million of PetroChina, the worst of the four major oil companies funding the genocide in Darfur, Sudan. Since July 11, Berkshire Hathaway has sold over 279 millions shares of PetroChina. Since Berkshire Hathaway is still the largest single shareholder of PetroChina, it continues to have a unique opportunity to influence PetroChina to help stop the genocide in Darfur. We hope that these sales send a clear signal to PetroChina, the government of China and the government of Sudan that large investors, like Mr. Buffett, and hundreds of thousands of small investors, do not want their money to be complicit in genocide. Americans want their investments to be genocide-free and American financial institutions should respond accordingly. There are many opportunities in the global market for good investments with excellent returns without investing in genocide.