A Message to Shareholders Willing to Finance Oil Exploitation in Virunga – DRC

MSF-Photo: Colin Delfosse – A resident of Rubaya camp in Masisi, North Kivu, looks out over the makeshift tents.  When investing in Oil be aware that you are also contributing: 1. To finance massacres, conflicts and inter-ethnic wars, low intensity warfare originated in the oil exploitation; 2. To expel populations from oil areas (from families… Read More

FEB 2015: Church of Engeland Joins Virunga Communities and asks Independent Inquiry of Soco’s operations

Move follows film backed by Leonardo DiCaprio and pleas by local NGOs, environmentalists, transparency campaigners and members of the UK Parliament to protect Congo’s Virunga park. The church – led by archbishop of Canterbury, Justin Welby, a former oil executive – has said that it may sell its near £3m stake in Soco International unless… Read More

SEPT 4, 2014: Global Witness investigates SOCO’s Oil Exploration Activities in Virunga

‘Drillers in the mist’: How secret payments and a climate of violence helped UK firm open African national park to oil British oil company Soco Internationaland its contractors havemade illicit payments, appear to have paid off armed rebels and benefited from fear and violence fostered by government security forces in eastern Congo, as they sought… Read More

SOCO’s Interim Results 2014: Virunga Risky Business

On the 28th of August, oil company SOCO International Plc published its interim results for the half-year to 30th of June 2014. From this report it is clear that the focus of the company has been to continue delivering steady progress and growth, keeping revenue and cash flow strong and shareholders happy with a possible 22… Read More

SOCO Shareholder Alert in Virunga: Huge Costs Company-Community Conflict in Oil Sector

Costs of Company-Community Conflict in the Extractive Sector The Centre for Social Responsibility in Mining at The University of Queensland (UQ), and the Harvard Kennedy School have published new research that has uncovered the true scale of the costs companies incur when they come into conflict with local communities. View & Download the Academic Paper … Read More

July 8, 2013: Norway’s Pension Fund divests from UK Oil Company SOCO International Plc

Norway’s Pension Fund divests their investments of over $ 33 million from UK oil company SOCO International Plc. The Norwegian oil fund, which has been the fourth largest institutional investor in the company, is sending with this a powerful signal to Soco International and its remaining shareholders. . There are too many concerns with oil… Read More

Oil in Virunga: Environmental costs and liabilities, a shareholders responsibility.

Shareholder responsibility could spur shift to sustainable energy Allowing shareholders to be held liable for the damages that companies cause to the environment and people could help transform the world’s energy system towards sustainability, according to new research published today in Proceedings of the National Academy of Sciences (PNAS). . The research carried out at IIASA… Read More

JUL 31, 2012: Top 15 Shareholders – the global connection

 Top 15 Shareholders  –  Total, Ophir Energy and SOCO International – One Corporate Responsibility What is a shareholder? A shareholder (or stockholder) is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Both private and public traded companies have shareholders. Companies listed at… Read More

Oil in Virunga, who is financing who: the Dutch connection

PROFUNDO Summary* The purpose of this study is to identify the Dutch financial institutions that have relations with the oil companies Ophir Energy, SOCO International and Total. These three companies are exploring for oil in the Virunga National Park in the Democratic Republic of Congo (DRC), or are planning to start with oil exploration. The… Read More

No oil drilling in Virunga: Dutch Banks and Investors talking to Total

 No oil drilling in Virunga National Park Zeist – Large Dutch banks and pension funds have investments in the French oil company Total, which wants to drill for oil in one of the last habitats of the endangered mountain gorillas, Virunga National Park in DR Congo. This became evident in a financial anlysis done by… Read More

MAY 2012: Total, Virunga “is in your hands”

WWF has called on French oil company Total to refrain from exploration in Virunga National Park. At a meeting of Total shareholders and investors Friday, WWF hosted a demonstration and published an open letter to the company president. Total has been granted an oil concession that includes a portion of the World Heritage Site, which… Read More