(BBN...This is not new news, but it's worth a reminder)....(cnn) The Sudan divestment movement, which has persuaded dozens of universities and state governments to sell holdings of companies doing business in Sudan, says Berkshire (Charts, Fortune 500) should do the same. Buffett is resisting. The legendary investor will tangle with his critics over the issue on May 5 at the company's annual meeting in Omaha. It should be a fascinating debate. Berkshire has become a target of the divestment campaign because it owns 2.3 billion shares of PetroChina Co. (Charts), a subsidiary of the state-controlled China National Petroleum Corp. (CNPC). CNPC has extensive operations in Sudan; it owns a major stake in Sudan's national oil consortia. China and Sudan are engaged in a marriage of convenience. For its part, China gets oil - Beijing purchased more than half of Sudan's oil exports in 2005. China's growing demand for energy has led the Chinese to cultivate close relationships with many oil-rich African nations. In return, Sudan gets money, weapons and political backing from China. Because about 70 to 80 percent of Sudan's oil revenue is funneled into its military, China's oil assets in Sudan are "an undeniable and well-documented enabler of Khartoum's genocidal policy in Darfur," according to the Sudan Divestment Task Force. As a member of the United Nations Security Council, China has also blocked efforts by the U.S. and Britain to apply stricter sanctions against Sudan. Between 200,000 and 400,000 people have been killed in Darfur, and millions more have been thrown out of their homes. (BBN Update: it's reported today in the AP, 10/9, that US Billionaire Warren Buffett sold 3 million worth of shares in China's energy giant. He's also been under pressure to cut ties with Petro-China because of the company's investments in war-torn Sudan. Activists say Chineese investments are helping Sudanese leaders resist international pressure).

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