Berkshire Hathaway Won’t Sell Shares in Sudan Oil Company
May 7, 2007 | Read Time: 1 minute
Shareholders of Berkshire Hathaway rejected a proposal to divest the company’s $3.3-billion holdings in PetroChina, a Chinese firm and the largest oil company in Sudan, after Warren Buffett, the company’s chairman, advised against selling the shares, reports the Los Angeles Times.
The newspaper last week raised questions about the company’s ownership of the stock in light of fact that Mr. Buffett has pledged most of his fortune to the Bill & Melinda Gates Foundation.
The oil industry in Sudan supports the genocide there, where more than 200,000 people have died, the newspaper said. Berkshire Hathaway is the largest shareholder in PetroChina, a subsidiary of a Chinese government company.
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