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Reuters-Unocal says no plan for new
- Subject: Reuters-Unocal says no plan for new
- From: tinkyi@xxxxxxxxxxxxx
- Date: Fri, 03 Dec 1999 09:06:00
Subject: Reuters-Unocal says no plan for new investments in Myanmar
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Thursday December 2, 5:32 am Eastern Time=20
Unocal says no plan for new investments in Myanmar
BANGKOK, Dec 2 (Reuters) - Unocal Thailand (NYSE:UCL - news) said on =
Thursday it had no plan for new investments in projects in Myanmar, but =
would continue with its existing Yadana natural gas project in the =
country.=20
``We abide by the (U.S government's) sanctions. There will be no new =
investment project in Myanmar for the time being,'' Randy Howard, Unocal =
Thailand president told Reuters in an interview.=20
``But we have a pre-existing project that we would continue to =
participate in,'' he said.=20
Unocal is a developer and operator of the offshore Yadana gas field in =
Myanmar, which was developed before the U.S. imposed sanctions on the =
country, accusing its military government of widespread human rights =
abuses and curbing democracy in the country.=20
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<DIV><FONT face=3DArial size=3D2><B>Thursday December 2, 5:32 am =
<SMALL>Eastern=20
Time</SMALL></B>=20
<H2><FONT size=3D4>Unocal says no plan for new investments in =
Myanmar</FONT></H2><!--rf|944130720--><!-- TextStart -->
<P>BANGKOK, Dec 2 (Reuters) - Unocal Thailand (NYSE:<A=20
href=3D"http://finance.yahoo.com/q?s=3Ducl&d=3Dt">UCL</A> - <A=20
href=3D"http://biz.yahoo.com/n/u/ucl.html">news</A>) said on Thursday it =
had no=20
plan for new investments in projects in Myanmar, but would continue with =
its=20
existing Yadana natural gas project in the country.=20
<P>``We abide by the (U.S government's) sanctions. There will be no new=20
investment project in Myanmar for the time being,'' Randy Howard, Unocal =
Thailand president told Reuters in an interview.=20
<P>``But we have a pre-existing project that we would continue to =
participate=20
in,'' he said.=20
<P>Unocal is a developer and operator of the offshore Yadana gas field =
in=20
Myanmar, which was developed before the U.S. imposed sanctions on the =
country,=20
accusing its military government of widespread human rights abuses and =
curbing=20
democracy in the country.=20
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