Petrofac News 1700X397
12 May 2008

Sudan Divestment Task Force removes divestment recommendation on Petrofac

In a report issued on 9 May 2008 the Sudan Divestment Task Force noted Petrofac’s recent announcement of its support of a pilot education initiative in Southern Sudan through the provision of a substantial grant to BRAC UK and commended the Company for its ‘readiness to develop policies at the group level to respond to the unique concerns associated with its operations in Sudan’.

The Task Force has re-designated Petrofac’s status within their classification system as a company meriting ‘ongoing engagement’. Companies within this category are not recommended for any divestment initiatives.

The Sudan Divestment Task Force is the coordinating entity for the targeted Sudan divestment movement.

BRAC is one of the world’s largest NGOs employing more than 100,000 people and is dedicated to the alleviation of poverty and empowerment of the poor in the UK, Africa and Asia.