CNOOC not leaving Myanmar
15 October 2007
China National Offshore Oil Corporation (CNOOC) has released a statement announcing that it will not cease its investment in Myanmar, the Wall Street Journal reported. This statement comes after a growing international call for isolation of the country, whose contraversial military government is accused of human rights violations. Company executives insisted that their investment in the country's oil reserves is beneficial to the people, as it exploits resources that would otherwise go unused. CNOOC is one of three large oil companies, including Chevron of the US and Total of France, with investments in Myanmar.
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