Jan 29, 2010
DPA
Chevron is one of many extractive companies that have been criticized in recent years for their refusal to say what they are paying for the rights to tap Cambodia's natural resources. Corruption is endemic in the impoverished South-East Asian nation, and there are concerns that any windfall from oil and gas revenues will be squandered.Phnom Penh - US energy giant Chevron Corp has extended its offshore energy exploration deal with the Cambodian government, local media reported Friday, but the company provided no other details citing 'commercial reasons.'
'Chevron welcomes the ongoing opportunity to evaluate the Block A resource,' spokesman Gareth Johnstone told the Phnom Penh Post newspaper.
Block A, an area off Cambodia's coast in the Gulf of Thailand, is thought to be one of the nation's most promising areas for oil and gas exploration in the coming years.
Announcement of the deal after almost a year of negotiations with the Cambodian government puts an end to speculation that Chevron might quit the country.
The newspaper noted that Chevron has spent 125 million dollars and drilled 15 exploratory wells in Block A since 2002. The latest date for production, which has been pushed back several times, is 2013.
Chevron is one of many extractive companies that have been criticized in recent years for their refusal to say what they are paying for the rights to tap Cambodia's natural resources. Corruption is endemic in the impoverished South-East Asian nation, and there are concerns that any windfall from oil and gas revenues will be squandered.
9 comments:
I smell rats rats, and rats. HunXen rats nibbling at this national resources definitely. We need a cat to put an end to this corruption rats. If I were Xen and I were clean I would show the khmer nation that this oil deal has good accountability and transparency.
1:58 you talk too much. Why don't you create an oil company and ask White farang to invest in your own company? Better than barking like dog on the net.
Total, Chevron 'enriching Burma junta'
September 10, 2009
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Oil giants Total and Chevron are propping up Burma's junta with billions of dollars hidden by the regime in Singapore, while trying to whitewash rights abuses, an environment group says.
Army security forces guarding a gas pipeline project backed by France's Total and US-based Chevron were linked to forced labour, killings, corruption and other violations, two reports by US-based EarthRights International said on Thursday.
"Total and Chevron's Yadana gas project has generated 4.83 billion dollars for the Burmese regime," one of the reports said, adding that the figures for the period 2000-2008 were the first ever detailed account of the revenues.
"The military elite are hiding billions of dollars of the peoples' revenue in Singapore while the country needlessly suffers under the lowest social spending in Asia," said Matthew Smith, a principal author of the reports.
The junta had kept the revenues off the national budget and stashed almost all of the money offshore with Singapore's Overseas Chinese Banking Corporation (OCBC) and DBS Group (DBS), the group said.
Total was recently at the centre of controversy over its lucrative dealings with the regime, following the extension in August of the house arrest of democracy icon Aung San Suu Kyi.
Total and Chevron are two of the biggest Western companies in Burma, both escaping wide-ranging sanctions imposed on the ruling junta by the United States and European Union.
The group meanwhile said that impact assessments of the pipeline by US-based CDA Collaborative Learning Projects, a US non-profit organisation commissioned by Total, had covered up adverse effects and abuses, the group said.
CDA "willfully participated in whitewashing Total and Chevron's impacts in Burma and their role in forced labour, killings, and other abuses," report co-author Naing Htoo said.
XEVRON is not going help Khmer it was done by Sokimex Sok Kong a Vietnamese tycoon also owned Angkor Wat.
Chevron of Private People
may god help and bless cambodia. amen.
""Anonymous said...
1:58 you talk too much. Why don't you create an oil company and ask White farang to invest in your own company? Better than barking like dog on the net""
No dud! we like Cheveron too! and we ask US to help contolling it anf the thieves!
And we beg no shit! like your father ah Hun Xen CPP!
It's lucky if Chevron come to Cambodia and doing business in this filthy corrupted country led by Big Brother Xen.
oil companies love idiots like hun sen and george bush. it will be funny to see hun sen steal more money......
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