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Unocal Response to Implementation o

Subject: Unocal Response to Implementation of Sanctions Against Myanmar by Clinton...

In a message dated 97-04-22 13:36:03 EDT, you write:

>Subj:	Unocal Response to Implementation of Sanctions Against Myanmar by
>Clinton Admini
>Date:	97-04-22 13:36:03 EDT
>From:	AOLNewsProfiles@xxxxxxx
>    EL SEGUNDO, Calif., April 22 /PRNewswire/ -- Unocal Corporation today
>issued the following statement in response to the implementation of
>by the Clinton Administration against new investment in Myanmar (Burma).
>          We are disappointed that the Clinton Administration has chosen a
>policy of
>isolation and sanctions concerning new investments in Myanmar under the
>Feinstein amendment of the 1997 Foreign Operations Appropriations law.
>          Unocal, of course, will abide by the Administration's order.  We
>review the order once it is made available to us.  We do not expect that the
>Administration's directive against new investments in Myanmar will have a
>material affect on our current involvement in the Yadana natural gas
>          Unocal remains focused on investment in Central and Southeast
>Administration's action will not change the company's long-term strategic
>direction of developing major energy-related projects throughout this
>          Historically, unilateral sanctions have proven to be ineffective.
>Economic engagement, not isolation, is the best way to promote positive
>in countries such as Myanmar.
>          During our 30-year history in Asia, we've seen that responsible
>investment is the most effective way to promote long-term economic and
>development in countries throughout the region.  We are concerned that the
>Administration's action may impede, rather than advance, these developments
>          The Yadana project is already providing significant benefits to
>people who live near the pipeline area -- an extremely poor and undeveloped
>region of Myanmar.  In addition to creating more than 2,000 jobs, the
>has begun a three-year, $6 million program to provide improved medical care,
>new and refurbished schools, electrical power, and agricultural development
>the pipeline region.
>      SOURCE  Unocal Corp.
>      CO:  Unocal Corp.
>      ST:  California
>      IN:  OIL
>      SU: