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As Myanmar cracks down on protesters, oil companies keep up controversial ties

Author: Canadian Press, Published on: 28 September 2007

Even as Myanmar's military junta intensifies its crackdown on pro-democracy protests, oil companies are jostling for access to the country's largely untapped natural gas and oil fields that activists say are funding a repressive regime... China - Myanmar's staunchest diplomatic protector and largest trading partner - is particularly keen on investing in the country... Total SA and...Petronas, currently pump gas from fields off Myanmar's coast... This week's bloody clampdowns...have escalated the activists' calls for energy companies to pull out... [In] the Yadana gas field, and Chevron Corp. has a 28 per cent stake through its takeover of Unocal... "Far from solving Myanmar's problems, a forced withdrawal would only lead to our replacement by other operators probably less committed to the ethical principles guiding all our initiatives," Jean-Francois Lassalle, vice-president of public affairs for Total Exploration & Production, said... Chevron's interest in the Yadana project is "a long-term commitment that helps meet the critical energy needs of millions in people in the region," said Nicole Hodgson, corporate media adviser for Asia. [also refers to PTTEP (PTT), Daewoo International, China National Offshore Oil Corp. (CNOOC), China Petroleum & Chemical Corp. (Sinopec), ONGC Videsh]

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Related companies: Chevron CNOOC (China National Offshore Oil Corporation) Daewoo International (part of Posco) ONGC (Oil & Natural Gas Corporation) Petronas PTT PTT Exploration and Production (PTTEP, part of PTT) Sinopec Total Unocal (part of Chevron)