ARCHIVE 2012


One of Total's biggest owners looking into the Sahara controversy
aftenposten_08.12.2012_610.jpg

Norwegian national newspaper Aftenposten today wrote that Norway's government - owning two percent of Total - could possibly blacklist the company from its pension fund due to its operations in Western Sahara. Norway owns 2,5 billion USD of shares in the company.
Published: 08.12 - 2012 11:20Printer version    
Norway is one of Total's largest owners. Fuelled by its oil production, the Norwegian government is managing the world's biggest sovereign wealth fund, investing in companies all over the world.

The minimum ethical standards of the fund's management is set by the Norwegian Parliament, and an Ethical Council is appointed to counsel the Ministry of Finance in its decision to exclude companies violating the guidelines. In the past, several companies have been kicked out of the fund due to their operations in Western Sahara.

In a large story in Aftenposten today (the largest subscription based newspaper in Norway), one can read the first statements from Total defending its operations since the new licence was discovered.

"I expect the Ethical Council concludes that the Pension Fund should divest. Operating in Western Sahara is not compatible with the way we have decided to manage our oil wealth. I expect that the Ministry of Finances follow the advise given by the Ethical Council", stated Trine Skei Grande, leader of the Liberal Party of Norway, in a side story to the article.  


[The below story appeared today in Aftenposten. Unofficial translation by WSRW]

French oil company Total intends to search for oil in occupied Western Sahara, but it is doubtful whether the country’s population will ever enjoy the benefits of potential discoveries.

Oil giant could be thrown out of Norway’s Pension Fund

Aftenposten,
8 December 2012


The Norwegian government has for a number of years advised against all economic relations with Western Sahara, and has furthermore agreed with the UN’s legal opinion that Moroccan exploration and exploitation on the seafloor offshore Western Sahara most probably is in violation of international law.
Many states recognise the territory between Morocco, Mauritania and Algeria as occupied and annexed by Morocco. Including Norway.
“The owners of Total must immediately make contact with the management of the company to get all facts on the table. The activities in Western Sahara must stop and no agreement must be renewed or upgraded”, said Erik Hagen, director of the Norwegian Support Committee for Western Sahara.
The Petroleum Fund [The Norwegian Government’s Pension Fund, translator’s note] holds assets worth 14,3 billion kroners [2,5 billion USD, translator’s note] in the French company.

International Law
July last year, it was known that the Moroccan state oil company ONHYM had defined a new oil block on approximately 100.000 square kilometres, which in turn was given the name Anzarane Offshore. The block is off the southern parts of Western Sahara, and appears on a map published on ONHYM’s website.
Some sources said that Total’s agreement for Anzarane was signed in March 2012, while others indicate that the agreement was done already in December 2011.
“In either case, the agreement presuppose an investment from Total on at least to million US dollars in geological and geophysical studies”, Hagen explained, who was the first to write about the agreement in an article published by Western Sahara Resource Watch.
Hagen told that Total’s activities are in violation of international law.
“They furthermore contribute to uphold a conflict and thus behave unethically. Even though it would have been legal to create or to uphold international conflicts, it doesn’t make it right to do it. Total is looking for oil with no concern of the people of Western Sahara”, stated Erik Hagen.

“Not illegal”
Total confirms that the activity in Western Sahara, but does not want to elaborate.
“Total entered into a contract for oil reconnaissance and evaluation for the Anzarane block, located along the Atlantic coast of Africa. Total complies with all applicable laws,  regulations and decisions of the UN and the EU, especially concerning the environment, competition and employment”, stated information officer Florent Segura at Total’s head quarters in Paris.
He underlines that it is not illegal to enter into contracts for reconnaissance and evaluation, as far as Total’s interpretation of UN.
The UN Security Council discussed the Western Sahara issue last week.
“UN special envoy to Western Sahara begs the international community for attention to the conflict. He said that one cannot accept status quo and he has placed the management of the natural resource as one of the key elements in the peace talks. In that context it is very destructive for the UN peace process that Total has signed the Anzarane-agreement”, said Erik Hagen.

Will complain
Erik Hagen told he has sent his updates to Norges Bank Investment Management (NBIM) which is managing the Petroleum Fund.
“We have also warned the [Norwegian] Ministry of Finances that if Total chooses to pursue its operations in Western Sahara, we will file a complaint stating that Total violates the ethical guidelines of the Petroleum Fund”, stated Erik Hagen.
If the Petroleum Fund were to divest from Total, it will probably be the biggest exclusion case ever, measured in value of the exclusion.


Does not exclude possibility of divestment from Total
The Ethical Council of the Norwegian Government’s Pension Fund will assess the issue of exclusion of Total shares. In 2005, the Fund divested from the oil company Kerr-McGee on the neighbouring block in Western Sahara. The reason was that Kerr-McGee was operating the oil search on Western Sahara’s continental shelf. Mr. Ola Mestad is leader of the Ethical Council. “The Fund owns to percent of Total, worth 14 billion kroners [2,5 billion USD]. The Council has been made aware of the new information that Total is said to be engaged in operations offshore Western Sahara”, said Ola Mestad.





    

Top


EN ES FR DE AR

Morocco occupies the major part of its neighbouring country, Western Sahara. Entering into business deals with Moroccan companies or authorities in the occupied territories gives an impression of political legitimacy to the occupation. It also gives job opportunities to Moroccan settlers and income to the Moroccan government. Western Sahara Resource Watch demands foreign companies leave Western Sahara until a solution to the conflict is found.
Report: COP22 controversy - Moroccan green energy used for plunder

tn_poweringplunder_eng_610.jpg

At COP22, beware of what you read about Morocco’s renewable energy efforts. An increasing part of the projects take place in the occupied territory of Western Sahara and is used for mineral plunder, new WSRW report documents.
Support Western Sahara Resource Watch

tn_sjovik_demo_610.jpg

Help us to protect the natural resources of Western Sahara for the Saharawi people. Support our work by making a donation.
The Western Sahara oil curse

tn_san_leon_protest_camps_8_august_2015_610x200.jpg

Big oil’s interest in occupied Western Sahara has taken a dramatic turn for the worse. Some companies are now drilling, in complete disregard of international law and the Saharawi people’s rights. Here’s what you need to know.
Stand up for the Gdeim Izik 25!

tn_court_photo_gdeim_izik_610.jpg

On 17 February 2013, in a mockery of justice, a Moroccan military court condemned 25 Saharawi citizens to shockingly tough prison sentences. Help us to release the Gdeim Izik 25.

WSRW.org News Archive 2016
WSRW.org News Archive 2015
WSRW.org News Archive 2014
WSRW.org News Archive 2013
WSRW.org News Archive 2012
WSRW.org News Archive 2011
WSRW.org News Archive 2010
WSRW.org News Archive 2009
WSRW.org News Archive 2008
WSRW.org News Archive 2007
WSRW.org News Archive 2004-2006


Register for our English newsletter:









These web pages have been built with the financial support of the trade union Industry Energy