Upstream Online: Share claim hits Oil Fund
Claims have been made that Norway's Oil Fund holds shares worth Nkr46.6 million ($7.6 million) in US oil company Kerr McGee, contrary to established ethical guidelines. Upstream, December 1st, 2004.
Published: 26.06 - 2010 19:58Printer version    
Share claim hits Oil Fund

Upstream Online,
December 1st, 2004

Claims have been made that Norway's Oil Fund holds shares worth Nkr46.6 million ($7.6 million) in US oil company Kerr McGee, contrary to established ethical guidelines.

The allegations were made in Norwegian newspaper Aftenposten today.

KMG is actively exploring offshore Western Sahara which runs counter to policies expressed by the Norwegian government.

Oslo's Finance Minister Per-Kristian Foss has received a letter from the Sahrawi Foreign Minister Mohamed Salem Ould Salek askign him "to consider ending its involvement with this company (which) is acting in violation to international law and the wishes of our people".

Norway's Western Sahara Support Group spokesman Erik Hagen this week said French giant Total had already withdrawn claiming a lack of oil in the area. Officials contacted by Aftenposten doubted any clear recommendation for action would emerge until after Christmas.

------------------------------------------------
For Upstream subscribers:
http://www.upstreamonline.com/news/article.jsp?Id=EPS_67992

    

Top


EN ES FR DE AR

Morocco occupies the major part of its neighbouring country, Western Sahara. Entering into business deals with Moroccan companies or authorities in the occupied territories gives an impression of political legitimacy to the occupation. It also gives job opportunities to Moroccan settlers and income to the Moroccan government. Western Sahara Resource Watch demands foreign companies leave Western Sahara until a solution to the conflict is found.
EU Court cases on Western Sahara for dummies

tn_law_hammer.jpg

It's not easy keeping up with all the different legal proceedings relating to Western Sahara. For the sake of clarity, here's an overview of the three different cases at the Court of Justice of the European Union.
Stand up for the Gdeim Izik 25!

tn_court_photo_gdeim_izik_610.jpg

Leading activists from Western Sahara are condemned to sentences ranging from 20 years to life imprisonment in connection to a mass protest in 2010 denouncing the Saharawi people’s social and economic marginalization in their occupied land; the Gdeim Izik protest camp.
Support Western Sahara Resource Watch

tn_sjovik_demo_610.jpg

Help us to protect the natural resources of Western Sahara for the Saharawi people. Support our work by making a donation.
Report: Moroccan green energy used for plunder

tn_poweringplunder_eng_610.jpg

At COP22, beware of what you read about Morocco’s renewable energy efforts. An increasing part of the projects take place in the occupied territory of Western Sahara and is used for mineral plunder, new WSRW report documents.

WSRW.org News Archive 2018
WSRW.org News Archive 2017
WSRW.org News Archive 2016
WSRW.org News Archive 2015
WSRW.org News Archive 2014
WSRW.org News Archive 2013
WSRW.org News Archive 2012
WSRW.org News Archive 2011
WSRW.org News Archive 2010
WSRW.org News Archive 2009
WSRW.org News Archive 2008
WSRW.org News Archive 2007
WSRW.org News Archive 2004-2006


Register for our English newsletter:









These web pages have been built with the financial support of the trade union Industry Energy