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Junta Gas Profits Stashed in Singapore Banks: ERI

Author: Simon Roughneen, Irrawaddy [Thailand], Published on: 10 September 2009

...[On] Thursday, Earthrights International (ERI) launched two reports alleging that...Total and Chevron are linked to “forced labor, killings, high-level corruption and authoritarianism” in Burma. The reports...examine how revenue from the Yadana gas project sustains military rule in Burma and undermines Western sanctions. The NGO also said that two Singapore-based banks—Overseas Chinese Banking Corporation (OCBC) and DBS Group—function as “offshore repositories” for junta revenues accruing from the Yadana gas project... In a June 26 letter to ERI published in the “Total Impact” report, Vice-President Jean-Francois Lasalle refused to answer a number of questions sent to Total by ERI...because [according to Total] ERI “presents allegations as facts,” and is “more interested in harassing our companies, in line with a divestment agenda, than in a real dialogue about how to improve people's lives.” Total has cited its socioeconomic work in the pipeline area, and the “overall improvement in living conditions for the 50,000 people” who live in the pipeline area. [also refers to Petroleum Authority of Thailand Export and Production (PTTEP)]

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Related companies: Chevron DBS Bank OCBC Bank PTT PTT Exploration and Production (PTTEP, part of PTT) Total