Total keeping eye on Myanmar’s opening: CEO

The head of French oil giant Total said Friday the relaxation of military rule in Myanmar could lead to new projects there but that the company currently had no specific plans. Total’s chairman and chief executive officer Christophe de Margerie was to travel to Myanmar later Friday from the World Gas Conference in the Malaysian capital Kuala Lumpur to meet authorities and members of civil society. “Now we will see with the reopening… there, if there is something new for Total,” he said on the sidelines of the conference. “And then of course we will be delighted to participate with the, I would say, additional development of Myanmar and maybe giving access to gas to some neighbouring countries.” Myanmar has surprised observers with a series of reforms following the end of nearly half a century of military rule last year, leading Western nations to start rolling back sanctions. Total has been in Myanmar since 1992 — before international sanctions against the military junta were ratcheted up — and operates the offshore Yadana gas field that fuels power plants in Thailand. The company’s presence in Myanmar has been contested by human rights activists, who accuse it of enriching the junta. More…

News selected by Covalence | Country: Myanmara | Company: Total | Source: Yahoo! News Canada