September 26, 2020

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George Soros Invests in Occupied Terrtories

I received this press release from the Kohelet Policy Forum:

Memo: Geroge Soros’s Investments in Occupied Territories

San Leon Energy​, headquartered in Dublin, Ireland, is an oil and gas exploration company with assets and operations in Albania, France, Ireland, Nigeria, Poland, Spain, and Morocco.

As part of its Morocco operations, San Leon​ drills in Western Sahara. In 2015, the company  reported finding gas in its Laayoune-4 well, and announced that it would be applying, in conjunction with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM), for a new eight-year license to continue exploration. When asked about the company’s  operations in Western Sahara, San Leon’s lawyer, Daniel Martin, said the company has not talked with the Saharawis since they are “not a representative people.” 

George Soros’s investment management companies have held significant shares in San Leon at least since 2010 and till 2016 (latest full Annual Report). Quantum Partners LP​ is “a private investment fund that’s operated by Soros Fund Management​. ”

Since 2011, when it managed USD 24.5 billion , Quantum is Soros’s family private wealth management fund .  In 2011, Quantum Partners LP, ​was the single largest significant shareholder of San Leon energy with 19% of companies shares.In mid-2015, Quantum Partners LP held 8.52% of San Leon , and a year later in 2016, 3.5% .

It is clear that Soros Fund Management were completely aware of San Leon’s massive Western Sahara business activity from the very start. San Leon never hid its Western Sahara business. Further, as early as in 2010, San Leon’s extraction preparations and construction at its Western Sahara sites were completely public . 

So when Soros, through his donations to the New Israel Fund and J-Street, makes it clear that he is against any activities in what he considers occupied territories, that doesn’t apply to his activity in any other occupied territories.

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