Kerr-McGee folds

Le Journal Hebdomadaire/Assahifa al- Ousbouia (Morocco)

12 january 2005

The American oil prospection giant Kerr Mc-Gee announces the cessation of
their activities in the south of Morocco. After Total and two smaller
operators, the departure of the American company, under pressure from
Polisario’s activists, is proving problematic for the Kingdom.

Under the same means of pressure as was used against the other operators, Kerr
McGee has withdrawn in order not to alienate investment funds that are
increasingly concerned about the “ethical” dimension of their placements.

The offensive was launched from Norway by a sympathiser of the separatists by
the name of Erik Hagen, a representative of the Norwegian Support Committee
for Western Sahara. He explains the withdrawal of Total with the efficiency
of the financial threat. This assertion contradicts the communiqué published
by Total at the beginning of December which explains the reasons for their
withdrawal as purely economic.

Several Norwegian investment funds, among them Skagen, have decided to cease
involvement in companies operating in the Sahara for “ethical” reasons. The
Norwegian Support Committee for Polisario asserts that the biggest investment
fund in the country, the “Norwegian Petroleum Fund”, managing 120 billion
Euros, is on the verge of adopting the same sanctions.

[Translated from French by Sahara Update]

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French source: http://www.lejournal-hebdo.com/article.php3?id_article=2984
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For further background, see also:
- 12/22/2004, afrol News: Divestments from Kerr-McGee over Western Sahara
engagement, http://groups.yahoo.com/group/Sahara-Update/message/1428
- 12/15/2004, Polisario: Letter to the Norwegian Ministry of Finance,
http://groups.yahoo.com/group/Sahara-Update/message/1427
- 12/1/2004, Aftenposten: Ethical pressure on the Norwegian Petroleum Fund,
http://groups.yahoo.com/group/Sahara-Update/message/1418
- KMG & Western Sahara:
http://groups.yahoo.com/group/Sahara-Update/messagesearch?query=Kerr
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Forwarded by:
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Norwegian Support Committee for Western Sahara
wsahara@...

*** Referendum now! ***

http://groups.yahoo.com/group/Sahara-update
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