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Article

30 Oct 2012

Author:
Simon Montlake, Forbes

Myanmar's Ethnic Conflict Flares In Shadow Of Asian Oil Investments

[E]thnic violence has spread in western...Burma...killing scores of civilians and displacing over 32,000 people...[T]he unrest spells particular risk for Asian energy firms...This is an operational hub for multi-billion dollar investments by Daewoo International...and China National Petroleum Co...Woodside recently agreed to partner with Daewoo in further exploration in the Bay of Bengal...HRW identifies the torched community as being on the eastern shore, near to the industrial zones where CPNC and Daewoo are invested...An industry consultant in Myanmar...[said] that...Daewoo is running its gas pipeline through a base in the town. This could become a more risky proposition if ethnic violence continues. It also raises security and human-rights concerns for other investors sizing up Myanmar’s oil and gas sector.