Boston Common Persuades Petrobras to Clarify Company Position on Sudan

BOSTON, MA – In July 2007 Petrobras issued a public statement on their web site that it had no intention to invest or have any business activities in the Sudan in the foreseeable future. This was about a week after Boston Common wrote Petrobras regarding press reports from 2006 that said Petrobras was in discussions with the government of the Sudan about possible offshore oil development in the Sudan.

After Boston Common received the letter from the CEO of Petrobras, we then asked Petrobras again to make a public statement about Sudan. Petrobras within a few days posted a statement on Sudan in the investor question and answer section of the Petrobras English language web site, under “Does Petrobras have any activities in Sudan?” According to a representative of the Sudan Divestment Task Force, the public statement by Petrobras will be sufficient to remove Petrobras from their Sudan Company Profile Report.

Click here to view Petrobras’ statement on Sudan.

For more information please contact Steven Heim, Director of Social Research, at sheim(at)bostoncommonasset.com, (617) 720-5557.

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