Natural Resources and Violent Conflict - WaterWiki.net

338 john brayorganizations in Western Europe and North America. One of thoseconcerns is the role of international petroleum companies.The Campaign against International Oil Companies. Internationalattention has focused on Talisman more than on any of theother companies. Talisman is listed on the Toronto and New Yorkstock exchanges, and Sudan-related nongovernmental organizationsare more active in Canada and the United States than in any of theother companies’ home countries. Their campaign tactics have includedcalls on individuals and institutions to divest shares in the company,questions at the company’s annual general meetings, and politicalpressure.In 2000 the Canadian government published a formal inquiry onhuman security in Sudan, known after its chairman as the Harkerreport. The report was critical of Talisman’s role in Sudan, but thegovernment subsequently decided to take no formal action. In theUnited States, members of Congress called for the Sudan Peace Act tocontain a clause banning companies active in Sudan from raising fundson the New York Stock Exchange. The final wording of the act left outthis requirement. However, Talisman faced a class-action lawsuitunder the Alien Torts Claims Act because of allegations that it askedthe Sudanese government to remove villagers from the vicinity of its oilfields in 1999.Talisman vigorously defended its record in Sudan but in October2002 announced plans to sell its 25 percent stake in Greater NilePetroleum Operating Corporation to the Indian company ONGCVidesh. Talisman chief executive officer Jim Buckee’s comment on thesale was to reaffirm that the company’s presence in Sudan had been aforce for good—he alluded to the company’s social projects—and toassert that the ongoing peace process raised hopes for the future.However, he also stated that controversy over the company’s presencein the country had had a damaging impact on its share price:“Talisman’s shares have continued to be discounted based on perceivedpolitical risk in-country and in North America to a degree thatwas unacceptable for 12 percent of our production. Shareholders havetold me they were tired of continually having to monitor and analyzeevents relating to Sudan” (Talisman Energy 2002).ONGC Videsh is a part state-owned company. Its proposed acquisitionof Talisman’s share in Sudan received Indian cabinet approvalin line with New Delhi’s strategic objective of improving access tovitally needed oil supplies (Watts 2002). In early 2003 Romanian andTurkish companies also expressed interest in entering the country(Kerr 2003; “Turkish Companies Interested” 2003).