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21 Mar 2023

Myanmar: Report lists oilfield services companies & investors that allegedly support the military junta; incl. company responses

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According to the report by the Justice for Myanmar, "oil and gas industry is the biggest source of foreign-currency revenue for the junta. Oil and gas revenue is used to purchase arms, jet fuel and other supplies needed for the junta's continuing commission of war crimes and crimes against humanity. According to the junta’s own figures, Myanmar earned US$1.72 billion from gas exports in the six months to March 31, 2022 alone." The report names oil, gas, and related companies as well as investors that allegedly support the military junta.

Oil, gas and related companies

The Business & Human Rights Resource Centre invited 26 oil, gas, and related companies respond to the allegations in the report. Only Baker Hughes, Chevron, Diamond Offshore Drilling, McDermott International, Oceaneering International, and POSCO responded. The responses are linked below.

The following companies did not respond: Ben Line Agencies, China Oilfield Services Limited, COENS, Destini Berhad, Energy Drilling, ENRA Group Berhad, Gavin & Doherty Geosolutions, Gulf Petroleum Myanmar, Halliburton, Hyundai Heavy Industries, InterMoor, Japan Drilling Company, MTI Energy, Muhibbah Engineering, PetroVietnam, PT Gunanusa Utama Fabricators, PTTEP, Schlumberger, Transocean, and Weatherford International.

Investors

Moreover, the Resource Centre invited 37 investors to respond. Only Allianz SE, National Pension Services, and Norges Bank Investment Management responded. Their responses are linked below.

The following investors did not respond: Aroma Teraju Sdn. Bhd., BlackRock, Capital Group, China ZhenHua Oil, Contrarius Investment Management, Dimensional Fund Advisors, Exor Investments, Federal International, Fidelity, FIL Investment Management, Guotai Junan Securities, HD Hyundai, Hyundai Motor Company, Interra Resources, JPMorgan, KAF Investment Funds Bhd., KCC Corporation, KGI Securities, Linc Shared Services Sdn. Bhd., Maybank Securities Pte. Ltd., Morgan Stanley, Oak Hill Advisors, Oaktree Capital Management, OCBC Securities, PRIMECAP Management, Samsung Asset Management, Samuel Terry Asset Management, Sourcerock Group, State Street Global Advisors, ValueAct Capital, Van Eck Associates, Vanguard, Wellington Management, and Yacktman Asset Management.

The Resource Centre was unable to identify points of contacts on the following companies: Carillo Capital Sdn. Bhd., KGH, Mizreen Capital Sdn. Bhd., Trillion Icon Sdn. Bhd., and Utarasama Marine Sdn. Bhd. The Resource Centre welcomes responses from these companies. Meanwhile, the Resource Centre awaits the response from the Principal Financial Group.

Chevron-MTI Energy sale

Meanwhile, the Resource Centre also invited Chevron and MTI Energy to respond to the allegations concerning the alleged sale of Chevron's stake in the Yadana Gas Project, specifically whether human rights due diligence have been undertaken in relation to the sale.

Respuestas de la empresa

HD Hyundai

Sin respuesta

KCC Corporation

Sin respuesta

Hyundai Motor (part of Hyundai Kia Motor)

Sin respuesta

Samsung Asset Management (part of Samsung Life Insurance)

Sin respuesta

KAF Investment Funds Bhd

Sin respuesta

Sourcerock Group

Sin respuesta

Fidelity Investments (FMR LLC)

Sin respuesta

PRIMECAP Management

Sin respuesta

Van Eck Associates

Sin respuesta

Dimensional Fund Advisors

Sin respuesta

Morgan Stanley

Sin respuesta

Oaktree Capital Management

Sin respuesta

Yacktman Asset Management

Sin respuesta

Oak Hill Advisors

Sin respuesta

Exor Investments

Sin respuesta

Allianz Ver respuesta
Norges Bank Investment Management (NBIM) Ver respuesta
Aroma Teraju Sdn. Bhd.

Sin respuesta

Linc Shared Services

Sin respuesta

Gutoai Junan Securities

Sin respuesta

Contrarius Investment Management

Sin respuesta

Wellington Management International Limited

Sin respuesta

KGI Securities

Sin respuesta

OCBC Securities

Sin respuesta

McDermott Ver respuesta
Oceaneering International Services Limited Ver respuesta
Baker Hughes Ver respuesta
JPMorgan Chase

Sin respuesta

State Street Global Advisors Limited

Sin respuesta

Weatherford International

Sin respuesta

Acteon Group Limited

Sin respuesta

Halliburton

Sin respuesta

Diamond Offshore Drilling Ver respuesta
ValueAct Capital

Sin respuesta

Capital Group

Sin respuesta

Vanguard

Sin respuesta

BlackRock

Sin respuesta

SLB (former Schlumberger)

Sin respuesta

Interra Resources

Sin respuesta

Maybank

Sin respuesta

Federal International

Sin respuesta

MTI Energy Inc

Sin respuesta

Petroleum Authority of Thailand Exploration and Production (PTTEP)

Sin respuesta

Gulf Petroleum Myanmar

Sin respuesta

Ben Line Agencies

Sin respuesta

Destini Berhad

Sin respuesta

Energy Drilling

Sin respuesta

ENRA Group Berhad

Sin respuesta

PT Gunanusa Utama Fabricators

Sin respuesta

Japan Drilling

Sin respuesta

Muhibbah Engineering

Sin respuesta

Petrovietnam

Sin respuesta

Posco International (part of POSCO) Ver respuesta
National Pension Service (NPS) Ver respuesta
COENS

Sin respuesta

Hyundai Heavy Industries

Sin respuesta

Gavin & Doherty Geosolutions

Sin respuesta

Transocean

Sin respuesta

FIL Investment Management Ltd.

Sin respuesta

China ZhenHua Oil

Sin respuesta

China Oilfield Services Limited (COSL)

Sin respuesta

Samuel Terry Asset Management

Sin respuesta

Chevron Ver respuesta

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