• 3 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 19 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 56 mins WTI @ $75.75, headed for $64 - 67
  • 57 mins EU to Splash Billions on Battery Factories
  • 3 hours US top CEO's are spending their own money on the midterm elections
  • 22 mins The Dirt on Clean Electric Cars
  • 11 hours Petrol versus EV
  • 5 hours OPEC Is Struggling To Deliver On Increased Output Pledge
  • 11 mins Satellite Moons to Replace Streetlamps?!
  • 3 hours The Balkans Are Coming Apart at the Seams Again
  • 8 hours 10 Incredible Facts about U.S. LNG
  • 53 mins Uber IPO Proposals Value Company at $120 Billion
  • 16 hours E-mopeds
  • 3 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 7 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 1 day These are the world’s most competitive economies: US No. 1
China’s CNPC Boosts Global Oil, Gas Ties

China’s CNPC Boosts Global Oil, Gas Ties

China National Petroleum Corporation (CNPC)…

Burmese Activists Seek Suspension of Chinese Natgas Pipeline Project

Following newly elected Burmese President Thein Sein’s decision to halt the Myitsone dam hydroelectric project on the Irrawaddy River, Burmese activists now want him to shelve the $1.5 billion Shwe natural gas and oil pipeline project.

The Shwe Gas Movement activists want a cessation to work on the Shwe natural gas pipeline, which is backed by China.

The Shwe natural gas and oil pipelines, with a completion date of 2013, will transit Burmese crude oil and natural gas from Burma’s Arakanese coast to China's Yunnan province. The dual 620 mile-long oil and gas pipelines will pass through more than 20 Burmese townships.

The natural gas will be produced from Burma’s offshore Shwe gas fields in the Bay of Bengal, with oil to be offloaded from Middle Eastern and African tankers in Arakan port, which will then be pumped to a Chinese refinery in Kunming, the capital city of Yunnan, Dhaka-based Arakanese democratic activist Narinjara website reported.

The pipelines are projected to supply around 12 million metric tons of crude and 12 million cubic meters of gas annually to China. The project is a joint venture of Beijing-owned China National Petroleum Corporation and Burmese regime owned Myanmar Oil and Gas Enterprise, and if completed, is expected to produce about $1 billion in foreign-exchange annually to the Burmese government for the next three decades.

By. Joao Peixe, Deputy Editor OilPrice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News