Word: unocalã
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Since 1997, the U.S. has responded to these rights violations through sanctions that bar new investment in Burma. Chevron acquired its stake in the Burmese joint venture eight years after the onset of the sanctions, when it purchased rival Unocal in 2005. But since Unocal??s stake in Burma predates the 1997 sanctions, and thus is not a “new investment,” Chevron can keep its stake in the joint venture under federal law. In fact, the joint venture has continued to expand production in Burma since 2005. It added another wellhead platform last...
Many activists link Unocal??s involvement in a Burmese oil pipeline as a way in which the company is complicit in gross human rights abuses, pointing to forced labor and mandatory relocation of residents in the area. But it seems that BAM should check the facts...
...group charged that the proceeds of Unocal??s pipeline project “fuel a brutal military dictatorship that has committed systematic rape, ethnic cleansing, and imprisonment of over a thousand political prisoners...
Some analysts expect ChevronTexaco will sell Unocal??s Burmese assets to avoid drawing calls for divestment, according to Reuters News Service...
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