EBO
News Summary:
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1. Protesters demand that BAT quit
2.
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Protesters demand that BAT quit Burma
The Guardian
Fifty Kenneth Clarkes gathered in
Tobacco close the factory it jointly owns with the military regime in
Protesters carrying masks of the BAT deputy chairman chanted in Burmese outside
the firm's headquarters, with placards quoting a letter from the former chancellor
to a constituent admitting he felt uncomfortable about investment in the country.
John Jackson, director of Burma Campaign
Ken Clarke off the hook. BAT are collaborating with a military dictatorship.
They are funding a regime that rapes, murders and tortures its own people."
Campaigners from the Burma Campaign were joined by Unison representatives
and members of the Burmese community in cluding Buddhist monk U Uttara, above.
BAT said: "We understand and greatly respect concerns about human rights.
However, we do not believe the best way forward is for businesses to withdraw
from countries whose governments' human rights record have been criticised.
Companies do not and should not have a mandate to step into areas of political
authority."
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The Guardian
Terry Macalister
Premier Oil has been embarrassed again by the Burmese military, which has
delayed the handover of the company's local assets to its partners by withholding
written permission to do so.
Without such permission, the British oil exploration and production specialist
cannot withdraw, as planned, from the country. The six-month delay also stalls
a huge restructuring of its shareholding which could transform its stock price.
Premier, which was criticised by human rights activists over its operations
in
insisted yesterday the deal was not in danger of collapse.
"We are not signalling concern about the sale. It will go through. We already have
verbal
approval from
the hands of the regulatory authorities," said the finance director, John van der Welle.
Premier said it expected the switch of its 26.67 per cent holding in the Yetagun
gas project to take place "some time in the second quarter". But this is the third
deadline given by Premier, which originally talked of the "end of December" and
then in January claimed permission would come "some time in the first quarter".
The
switched
as part of a $670m (£427m) deal whereby Amerada Hess of the
Petronas of Malaysia will both sell their 25 per cent stakes in Premier.
That block of shares was a major drag on the Premier share price because it left
the British firm protected, in effect, from any takeover bid.
The Indonesian authorities have already given their written permission for the
Natuna field changes. The delays were attributed by Premier to the Burmese
government and to the fact that PTT of Thailand, Nippon Oil of Japan and MOGE
of
rights. Originally it was expected that the entire Yetagun stake sold by Premier
would go to Petronas, which would have been less complicated.
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