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Norway ups Burma oil 	investments	 | Democratic Voice of Burma HomeNewsEconomicsEnvironmentHealthMediaPolitics  Opinion & AnalysisInterviewPhotosDVB TV Burmese Language     Saturday, 26 January 2013Subscribe to our Feed              
Burma HomeNewsEconomicsEnvironmentHealthMediaPolitics  Opinion & AnalysisInterviewPhotosDVB TV Burmese Language     Saturday, 26 January 2013Subscribe to our Feed                Norway ups Burma oil 	investments	 Share Comments (3)Tweet   By FRANCIS WADEPublished: 24 March 2011Norway's state-owned Pension Fund holds shares in 15 energy companies operating in Burma (ERI) Figures released last week by th
 By FRANCIS WADEPublished: 24 March 2011Norway's state-owned Pension Fund holds shares in 15 energy companies operating in Burma (ERI) Figures released last week by the Norwegian government show that 	investments	 in oil and gas companies operating in Burma stand at close to $US5 billion, despite heavy opposition from rights groups.The new sum marks an increase of around $US300 million on last year’s figures
companies operating in Burma stand at close to $US5 billion, despite heavy opposition from rights groups.The new sum marks an increase of around $US300 million on last year’s figures. The state-owned 	investment	 body, the Norwegian Pension Fund, holds shares in 15 energy companies in Burma, a position that the campaign group Norwegian Burma Committee this week criticised as “double morale”.The Fund, which wa
North Sea oil wealth, was the focus of a damming report in December last year by EarthRights International (ERI), who accused it of “contributing to grave unethical actions in Burma” through its 	investments.The	 revelation coincides with reports of several extra-judicial executions last month close to pipelines operated by two overseas companies, the US-based Chevron and French oil giant, Total. Both ar
coincides with reports of several extra-judicial executions last month close to pipelines operated by two overseas companies, the US-based Chevron and French oil giant, Total. Both are targets of 	investment	 by the Fund, which has shares of more than $US2 billion in Total and $US0.9 billon in Chevron.It has also doubled its stake in the controversial Swiss-American drilling firm Transocean, which is bein
the Fund, which has shares of more than $US2 billion in Total and $US0.9 billon in Chevron.It has also doubled its stake in the controversial Swiss-American drilling firm Transocean, which is being 	investigated	 by the US for its work with a consortium of Burmese companies that includes a firm owned by junta crony Steven Law, who is a target of US sanctions.ERI, which has been monitoring the impact of th
PTTE and the Myanmar Oil and Gas Enterprise (MOGE), are known to use Burmese army units as security for their operations.Eight of the 15 companies, including Transocean, have seen increased 	investment	 from the Fund, while six have seen a reduction and one remains the same.Its shares in Korea’s Hyundai Heavy Industries have soared from $US11.5 million to $US173 million, while its holdings i
project has dramatically increased military presence along the pipeline route and caused the forcible relocation of hundreds of civilians.Matthew Smith, senior consultant at ERI, said the increase in 	investments	 by the Pension Fund “is indiscriminate of the ethical considerations – that [the Fund doesn’t] determine whether or not to increase their holdings based on ethnical decisions”.Significant chunks o
incidents such as the killing of the Karen man in February are common. Smith said however that such risks are an issue “these companies have consistently tried to deny in communications with their 	investors	 and other interested parties”.The Pension Fund in March 2007 disinvested from the Chinese company Dongfeng following evidence that it had been supplying trucks to the Burmese military.Norway was on
Smith said however that such risks are an issue “these companies have consistently tried to deny in communications with their investors and other interested parties”.The Pension Fund in March 2007 dis	invested	 from the Chinese company Dongfeng following evidence that it had been supplying trucks to the Burmese military.Norway was one of the first countries to accept Burmese refugees following the 198
to accept Burmese refugees following the 1988 uprising, and in 1991 awarded the Nobel Peace Prize to opposition leader Aung San Suu Kyi.”It would be very disturbing to find out that Norway had been 	investing	 in Burma prior to 1988.I have always wondered why Mahatma Gandhi, the originator of nonviolent protest had been shunned by the Nobel Peace Prize committee. I think it may have been that the Nobe
in 1988 & preempt Aung San Suu Kyi from calling for nonviolent protests which would claim thousands of lives snuffed-out by the order of their regime business partners, endangering Norway’s agenda to 	invest	 in the rape of Burma’s natural resources by the Burmese military regime?Or did the Burmese military regime merely pay Norway for Daw Suu’s Peace prize in order to give the people the hopes that wit
protests would not be needed?Either way, the Nobel Peace prize together with Daw Suu’s incarceration by the SPDC regime effectively silenced the protests with no further bloodshed.Whether Norway was 	investing	 in Burma at the time, or later seized the lucrative opportunity they helped to create, the Norwegian duality of supporting tyranny @99% and freedom @1% certainly seems to show where their loyalties
have to get the jobb,so half parten of problem will be soleved by economic way.I think its the better then criticize.Burmese like it.   Billy says:  March 29, 2011 at 5:10 pm The companies Norway 	invests	 in are connected to the Yadana pipeline project which has already plenty of human rights abuses documented…and is – according to several sources – one of the regime’s largest sources of income… Norwa