Norway endorses PetroChina investment

epa01443369 A picture made available on 13 August 2008 shows little Panda Fu Long climbing a tree in his enclosure at the zoological garden Schoenbrunn in Vienna, Austria on 12 August 2008. He celebrates his first birthday on 23 August 2008.  EPA/HERBERT PFARRHOFER

High and dry:PetroChina could not be said to be involved in CNPC's Burmese pipelines, Norway's Finance Ministry has ruled.

Norway's sovereign wealth fund has rejected a suggestion from its ethics committee that it quit investment in PetroChina, saying the committee’s cause for concern was related to another company.

The Council on Ethics for the Government Pension Fund Global said in 2010 that there was an unacceptable risk of human rights violations surrounding the construction of oil and gas pipelines in Burma, and that the companies responsible for their construction risked involvement.

China National Petroleum Corporation subsidiary Southeast Asia Crude Pipeline Company is constructing the pipelines in cooperation with, among others, the state-owned Burmese company Myanmar Oil and Gas Enterprise (MOGE).

But Norway’s Finance Ministry ruled yesterday that PetroChina, which is 87% owned by CNPC, was not accountable for any human rights…

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