Involvement of Credit Suisse in the global mining and oil & gas sectors A research paper prepared for Berne Declaration and greenpeace Switzerland June 2006 Jan Willem van Gelder with contributions of Sven Sielhorst (AIDEnvironment) Profundo Van Duurenlaan 9 1901 KX Castricum The Netherlands Tel: +31-251-658385 Fax: +31-251-658386 E-mail: [email protected] Website: www.profundo.nl Contents Scope of the Report ..................................................................................................1 Chapter 1 Credit Suisse - Oil & Gas ................................................................1 1.1 BP................................................................................................................1 1.1.1 Short profile of BP .......................................................................................1 1.1.2 Financial involvement of Credit Suisse........................................................1 1.1.3 Controversial issues ....................................................................................2 1.2 CNOOC .......................................................................................................3 1.2.1 Short profile of CNOOC...............................................................................3 1.2.2 Financial involvement of Credit Suisse........................................................3 1.2.3 Controversial issues ....................................................................................4 1.3 Gazprom .....................................................................................................5 1.3.1 Short profile of Gazprom .............................................................................5 1.3.2 Financial involvement of Credit Suisse........................................................5 1.3.3 Controversial issues ....................................................................................6 1.4 Lukoil ..........................................................................................................7 1.4.1 Short profile of Lukoil...................................................................................7 1.4.2 Financial involvement of Credit Suisse........................................................7 1.4.3 Controversial issues ....................................................................................8 1.5 Medco Energi Internasional....................................................................10 1.5.1 Short profile of Medco Energi Internasional ..............................................10 1.5.2 Financial involvement of Credit Suisse......................................................10 1.5.3 Controversial issues ..................................................................................11 1.6 Novatek.....................................................................................................12 1.6.1 Short profile of Novatek .............................................................................12 1.6.2 Financial involvement of Credit Suisse......................................................12 1.7 Petrobras..................................................................................................12 1.7.1 Short profile of Petrobras...........................................................................12 1.7.2 Financial involvement of Credit Suisse......................................................12 1.7.3 Controversial issues ..................................................................................13 1.8 Pluspetrol .................................................................................................14 1.8.1 Short profile of Pluspetrol ..........................................................................14 1.8.2 Financial involvement of Credit Suisse......................................................14 1.8.3 Controversial issues ..................................................................................14 1.9 Rosneft .....................................................................................................15 1.9.1 Short profile of Rosneft..............................................................................15 1.9.2 Financial involvement of Credit Suisse......................................................15 1.9.3 Controversial issues ..................................................................................15 1.10 Sakhalin Energy.......................................................................................16 1.10.1 Short profile of Sakhalin Energy .............................................................16 1.10.2 Financial involvement of Credit Suisse ...................................................17 1.10.3 Controversial issues................................................................................17 1.11 Slavneft.....................................................................................................17 1.11.1 Short profile of Slavneft...........................................................................17 1.11.2 Financial involvement of Credit Suisse ...................................................17 1.12 Tatneft.......................................................................................................18 1.12.1 Short profile of Tatneft ............................................................................18 1.12.2 Financial involvement of Credit Suisse ...................................................18 1.12.3 Controversial issues................................................................................19 1.13 TNK-BP .....................................................................................................19 1.13.1 Short profile of TNK-BP ..........................................................................19 1.13.2 Financial involvement of Credit Suisse ...................................................19 1.13.3 Controversial issues................................................................................20 1.14 Total ..........................................................................................................21 1.14.1 Short profile of Total................................................................................21 1.14.2 Financial involvement of Credit Suisse ...................................................21 1.14.3 Controversial issues................................................................................21 1.15 Yukos........................................................................................................24 1.15.1 Short profile of Yukos..............................................................................24 1.15.2 Financial involvement of Credit Suisse ...................................................24 1.15.3 Controversial issues................................................................................24 Chapter 2 Credit Suisse - Mining...................................................................26 2.1 Adaro Indonesia ......................................................................................26 2.1.1 Short profile of Adaro Indonesia ................................................................26 2.1.2 Financial involvement of Credit Suisse......................................................26 2.1.3 Controversial issues ..................................................................................26 2.2 Alcan.........................................................................................................27 2.2.1 Short profile of Alcan .................................................................................27 2.2.2 Financial involvement of Credit Suisse......................................................27 2.2.3 Controversial issues ..................................................................................27 2.3 Alcoa.........................................................................................................28 2.3.1 Short profile of Alcoa .................................................................................28 2.3.2 Financial involvement of Credit Suisse......................................................28 2.3.3 Controversial issues ..................................................................................29 2.4 Alpha Natural Resources........................................................................31 2.4.1 Short profile of Alpha Natural Resources ..................................................31 2.4.2 Financial involvement of Credit Suisse......................................................31 2.4.3 Controversial issues ..................................................................................31 2.5 Barrick Gold .............................................................................................32 2.5.1 Short profile of Barrick Gold ......................................................................32 2.5.2 Financial involvement of Credit Suisse......................................................32 2.5.3 Controversial issues ..................................................................................32 2.6 BHP Billiton..............................................................................................34 2.6.1 Short profile of BHP Billiton .......................................................................34 2.6.2 Financial involvement of Credit Suisse......................................................34 2.6.3 Controversial issues ..................................................................................35