Discussion in 'Promote The Cause' started by Unregistered, Oct 10, 2009.
Stop buying petrol from TOTAL.
Divest from Total stocks
Another example of Total Socially Responsible investment
"Boycott Total Petrol Stations to support Burma Petition :
Petition Boycott Total Petrol Stations to support Burma Total oil is the largest foreign investor in Burma. ... TOTAL OIL is one of the largest foreign investors in Burma. They provide a steady source
This is what we did to Siemens.
Controversial rail contract approved by MTA board; Italian firm pledges to build plant in downtown L.A.
September 24, 2009 | 3:07 pm
The Los Angeles County Metropolitan Transportation Authority board today awarded a contract to the Italian firm AnsaldoBreda for 100 additional light-rail cars, clearing the way for a new rail manufacturing plant that the company has promised to build in downtown Los Angeles.
The decision was a victory for Mayor Antonio Villaraigosa, who has made green jobs a centerpiece of his agenda. He said the rail plant would serve as the southern anchor of his proposed clean technology corridor east of downtown.
Board members approved the $300-million deal on an 8-3 vote — with two members absent — after impassioned speeches by union workers who said many of their colleagues were out of work and losing their homes.
Art Leahy, the MTA's chief executive, had recommended against approval of the controversial deal. But at the last moment, AnsaldoBreda circulated an e-mail that provided additional financial guarantees from the firm's parent company, Finmeccanica.
Stop buying petrol from Total
Well Done Florida. Do not buy Total
Florida, the first state to pass Iran divestment legislation in June 2007, has pulled $1.15 billion worth of pension money out of 24 foreign companies doing business in the energy sector in Iran and Sudan. Among the companies: Total ( TOT - news - people ) of France, Royal Dutch Shell ( RDSA - news - people ), India's Oil and Natural Gas Corp., Russian energy giant Gazprom and various branches of the Chinese state-controlled oil company Sinopec. American companies, long prohibited from doing business with Iran, won't be affected. (In regard to Sudan, there are loopholes in U.S. economic sanctions that allow a foreign subsidiary or distributor to operate there, but most U.S. companies have steered clear.)
Denmark- Well done. Do notbuy Total
The Danish Labour Market Pension Fund (Pensionsselskabet, or ATP) has withdrawn its stake from Total’s investment in Burmese oilfields, following the brutal crackdown on monks and civilian protesters in September, according to an ATP announcement on October 23.
A spokesperson for the pension fund told Danish newspaper Information that the ATP announcement followed a statement from the Danish foreign minister that he would have preferred sanctions on Burma Oil and Gas to be put in place. Ultimately, ATP felt unable to retain its shares in companies working in Burma. The Danish pension fund’s board had taken this decision due to political sentiment in the country.
The Danish pension fund’s withdrawal of investment from oil companies was the first time that a board of shareholders has decided to boycott Burma’s military government since the September crackdown.
According to Information, the ATP has invested about Danish Krone 935 million (US $181.9 million) in Total Oil. However, the ATP are acting to divest Danish Krone 65 million (US $12.6 million) from oil companies that are doing business in Burma, said the statement.
At present, there are nine foreign oil companies involved in drilling Burma’s offshore oilfields: Total, Petronas Carigali Myanmar, Daewoo, PTT-EP of Thailand, China National Offshore Oil Corporation, China National Petrochemical Corporation, Essar, Gail, and Rimbunam (Malaysia).
There are also nine foreign oil companies involved in Burma’s 16 onshore natural gas fields: Myanmar Petroleum Resources Ltd, Focus Energy Ltd, Westburne Oil Ltd, China National Offshore Oil Corporation, China National Petrochemical Corporation, Sinopec, Essar, Goldpetrol, and a representative firm of the Kalmik republic.
Although the Danish pension fund has withdrawn from investment in Burma, other oil firms, such as Total Oil, Daewoo, Westburne and PTT-EP are unlikely to follow suit.
keep up the good work
Coalition crusades against companies
By Thomas Olson
The Rev. Grant LeMarquand and Dr. Wendy LeMarquand of Bell Acres say they are on a life-and-death mission.
The LeMarquands belong to the PetroChina Coalition, a diverse band of seasoned lobbying groups operating as a self-appointed police force to reform the U.S. mutual-fund and pension industry. The couple are among hundreds of people who have spoken out in recent years against investing in foreign companies that engage in controversial activities.
The LeMarquands are particularly interested in stopping investments that contribute to the killing of innocent civilians in Sudan.
"An Irish Catholic missionary who worked in South Africa once told me, `Apartheid South Africa was a picnic compared to what's going on in the Sudan,'" said Grant LeMarquand, 46, an associate professor at Trinity Episcopal School for Ministry, Ambridge.
The coalition comprises groups with about 20 million members.
Oil money - some of it invested in U.S. pension and mutual funds - is being used by the Sudanese government to kill and enslave thousands of Christians in that North African nation, according to the United Nations.
U.S. pension funds and mutual funds are linked to the oil money through stock in PetroChina Co. Oil projects run by PetroChina's corporate parent sustain the killing, religious persecution and slavery in Sudan, according to numerous documents and personal accounts.
Sudan is a nation of about 27 million divided people. The Arab Muslim majority in the north, where the military government is based, is persecuting the black Christian minority in the poorer south.
Oil is behind most of the violence, which has claimed 2 million lives in the past 16 years, according to the United Nations.
In 1999, government forces swept through southern Sudan, attacking and killing civilians with bombers, tanks and artillery and burning 6,000 homes to clear a 62-mile swath of territory around oil fields, according to a U.N. report.
PetroChina is the world's fifth-largest oil company in terms of its reserves. Its parent company, China National Petroleum Co., is owned and controlled by the People's Republic of China, according to the company's annual report.
China National is part of a $2 billion project to produce crude oil for Sudan, according to documents from the U.N. and the U.S. House Banking Committee.
Last month, the Sudanese military regime gained another source of petro-dollars from a French oil giant. Total Fina Elf signed an oil pact with Sudan on Dec. 19, allowing the corporation to drill for oil there for the first time.
Total Fina was the largest single foreign holding of the Pennsylvania State Employees' Retirement System in 1999, according to the system's annual report from that year. The pension fund owned more than $78 million in Total Fina stock.
Teachers in Pennsylvania's public schools also are tied to Total Fina. Their pension fund, the Public School Employees' Retirement System, owns about $173 million in Total Fina stock, according to state data. The teachers pension fund is the nation's 14th-largest public pension, at $53 billion.
Netherlands - Pension Funds need to get out of Total investment
AMSTERDAM (ResourceInvestor.com) -- At the time when China’s largest oil company, China National Petroleum Corporation (CNPC), is showing a substantial increase in assets, its listed daughter company PetroChina [NYSETR] is confronted by an uphill battle. The growing uneasy of institutional investors and pension funds with the current strategy of oil companies in African oil producer Sudan has again resulted in a major setbacks for operators. One of the main Dutch pension funds, PGGM, currently holding assets of around 88 billion euros, has decided to divest its holding in the NYSE-listed Chinese operator PetroChina. According to the spokesman of PGGM, the Dutch pension fund has decided to end its investments due to the fact that the Chinese operator is involved in human rights violations in Sudan.
The unexpected move by PGGM is significant, as this is the first time ever that Dutch pension funds have decided to act against Chinese oil operators. The impact in the whole sector will be high, as Dutch pension funds belong to the top 10 in the world. With holdings of around $1 trillion in total, the Dutch pension funds are a force to be reckoned. For the oil and gas sector this is for sure the case, as funds such as PGGM, ABP, Railway Pension Fund and others have heavily invested their money in oil- and gas-related stocks, while alternatives such as oil futures, etc. have been the main profit-making instruments in the past years. The move of PGGM is expected to be followed by ABP, the third-largest pension fund in the world, behind CalPERS (California Public Employees' Retirement System) and the Norwegian oil fund.
Analysts also have been keeping an eye on European investors since U.S. president George W Bush signed the Sudan Divestment Law, in which American companies have been asked to remove all their investments with companies involved in Sudan. In the past years, the pressure has been mounting on largely American and European oil companies to end their operations in the civil war-stricken African operator - with some success.
However, most operators at present are European, such as Total [NYSE:TOT]. The move by the Dutch funds could also include the coming time that other (European) oil companies are being urged to move out of Sudan. If not, the same move as with PetroChina could be easily made. The impact of such a move will be large, as main shareholders of most companies are the institutional investors and/or pension funds. Possible targets could include Total, Marathon [NYSE:MRO] or even oilfield services giants such as Schlumberger [NYSE:SLB].
Do not buy Total
We have a common cause. Help the people of Iran, Sudan, and Burma
Total out of Burma
US Legislation will help reduce TOTAL holdings
And what is even more clear and important is the prevailing role of the
American pension funds investing in both TOTAL and ELF (24% in Elf as
recently reported here, and up to 60% in TOTAL according to english
business and financial reports).
Put pressure on US State Pension funds to Divest.
New York State and Local Retirement Sytem has USD $121,000,000 invested in Total SA.
Help the people of Burma,Iran, and Sudan.
Extremely interesting blog on Total Oil. Join the cause for Burma, Iran, and Sudan.
BOYCOTT TOTAL OIL
Good News-Total has started four of five dev.planned for this year (Not Iran)
Low oil prices hit Total profits
Total petrol station
Total says its oil production is back on track
Total has blamed lower oil prices and tight refining margins for a 54% drop in third-quarter net profits.
In the three months to September, the French oil giant's profits reached 1.9bn euros ($2.8bn; £1.7bn), compared with 4.1bn euros a year earlier.
Total's third-quarter output rose 0.5% to 2.24m barrels of oil a day compared with the same period last year.
However, Total now expects oil production to fall this year, revising its previous prediction of an increase.
Total chief executive Christophe de Margerie remained upbeat, saying the company's oil production was "back on track".
He also pointed out that Total's spending was "in line" with a target of $18bn for 2009.
Total has started four of five developments planned for this year; the Akpo oilfield off Nigeria, liquefied natural gas plants in Qatar, the Tahiti field in the Gulf of Mexico, and Angola's Tombua-Landana field.
Total's share in these projects will add about 230,000 barrels of oil equivalent a day in output in 2010, according to the company's chief financial officer Patrick de la Chevardiere.
Demand for oil products has fallen as consumers have cut spending on travel and goods, leading to lower profits for refiners, reduced plant operating rates and temporary closures.
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