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re!!!! Unocal giving up natural-gas (r)



Subject: Re: re!!!! Unocal giving up natural-gas exploration in  Burma

Check It Out, but Unocal is still there doing what is was doing brfore.
We never eat a a pack of lies.

cd@xxxxxxxxxxxxxxx wrote:
> 
> From: dawn star <cd@xxxxxxxxxxxxxxx>
> Subject: re!!!! Unocal giving up natural-gas exploration in  Burma
> 
> check it out, this from the Financial Times, Friday, April 25, on how us
> companies are getting around sanctions: ..."Most of the new investment
> was in the oil and gas sector, with offshore
> exploration rights held by Unocal and Texaco being converted into
> production-sharing contracts.
> 
> This distinction is important as the executive order implementing the
> new investment ban is expected to allow existing investment contracts to
> be fulfilled but not allow them to be expanded, modified or upgraded.
> Arco has also been heavily involved in natural gas exploration but it is
> unclear whether a production-sharing agreement has been reached."
> 
> dawn star
> euroburmanet
> http://www-uvi.eunet.fr/asia/euro-burma/total/
> >
> > From: moe@xxxxxxxxxxxxx (Julien Moe)
> > Subject: Unocal giving up natural-gas exploration in  Burma
> >
> > Unocal giving up natural-gas exploration in  Burma
> >   April 23, 1997
> >   10.18 a.m. EDT (1418 GMT)
> >
> >   SINGAPORE (AP) -- Unocal Corp., the biggest foreign investor in Burma, said
> >   Wednesday it has given up developing two new natural gas fields because of
> >   economic sanctions imposed by President Clinton.
> >
> >   Washington announced a ban Tuesday on new U.S. investment in Burma,
> >   saying its military government has ignored appeals to ease repression and move
> >   toward democratic rule. Clinton was expected to sign an order implementing
> >   the sanctions later this week.
> >
> >   Burmese dissidents are calling for a boycott of business ties to the
> > ruling junta,
> >   saying foreign investment strengthens its grip on power while doing little to
> >   help ordinary Burmese.
> >
> >   "We were going to look at one or two additional blocks in the offshore area in
> >   the Andaman sea, but it's clear we would not be able to do it,'' John G.
> >   Vandermeer, a Unocal vice president for new ventures in South and Southeast
> >   Asia, told Dow Jones Newswires.
> >
> >   Vandermeer said Unocal also would forgo other investments in Burma, but he
> >   declined to give details.
> >
> >   The company will go ahead with plans to look for gas southwest of the Yadana
> >   field in the the Andaman Sea because it already is committed by a deal signed
> >   with the Burmese government in January, he said.
> >
> >   A $750 million project to build a gas pipeline and power plant to supply
> >   Rangoon, the Burmese capital, also will go forward as planned.
> >
> >   "That is an existing project. We have agreements in place on that one,''
> >   Vandermeer said. "It's simply one of the number of projects ongoing in the
> >   country.''
> >
> >   He said, however, that the legal line separating new investments banned by the
> >   sanctions from existing projects that are allowed to continue was unclear.
> >
> >   "It's something we have to see how the legislation defines,'' he said. "We
> > want
> >   to work within the law but maintain our commitment to projects and Southeast
> >   Asia in general.''

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