Chevron says no plan to exit Thailand, may keep stake in Myanmar gas field

 

(REUTERS) Chevron is committed to its Thailand investments despite job cuts that have spurred rumours of the U.S. oil major's exit, and may keep a Myanmar gas field stake if no attractive offer is made for the asset, an executive said in a statement on Friday.

 

The U.S. oil major - the country's largest oil and gas producer, supplying more than one-third of its natural gas demand - operates several exploration and production blocks in the Gulf of Thailand.

 

Its main concessions at the Erawan gas field and nearby blocks are due to expire in 2022, with the Thai military government planning to put them up for auction next year.

 

Full story: http://www.reuters.com/article/chevron-thailand-idUSL3N1B01L6

 

-- © Copyright Reuters 2016-08-19

 

army is planning to put them up for auction some years in the future, guess the good general is not planning on leaving any time soon.

3 hours ago, williamgeorgeallen said:

army is planning to put them up for auction some years in the future, guess the good general is not planning on leaving any time soon.

 

No,  "with the Thai military government planning to put them up for auction next year" (my bold for emphasis) from the link in the OP.

guessing they will want a big payment upfront. think that is how mr T made his billions selling of mobile phone frequencies. 

I think Chevron are economically far smarter than drill sergeants and the highly decorated military officers of the Thai government.

Given a whiff of trouble Chevron will pull up stakes and be gone in the blink of an eye. Just like the Japanese and all the other foreign investors did in 2014.

26 minutes ago, Brer Fox said:

I think Chevron are economically far smarter than drill sergeants and the highly decorated military officers of the Thai government.

Given a whiff of trouble Chevron will pull up stakes and be gone in the blink of an eye. Just like the Japanese and all the other foreign investors did in 2014.

 

quote " Just like the Japanese and all the other foreign investors did in 2014. "

 

So according to you there are no foreign investors left in Thailand. No Isuzu, Ford, Toyota, Mazda pickup, Honda, Nissan, Toyota, Ford. Chevrolet, Mercedes Benz cars. No DTAC or AIS, no foreign companies at all? No Toshiba, HP, Brother computer and printer companies at all? Nothing at all?

 

Wow, I must have a long Rip Van Winkle sleep to have missed that.

3 hours ago, Ricardo said:

 

No,  "with the Thai military government planning to put them up for auction next year" (my bold for emphasis) from the link in the OP.

More troubling from an operators point of view, in addtion to auctions, the goverment are also looking for production sharing which maybe more of a show stopper than the auction, ie they want the operator to invest all the money and take the risk, and the goverment want a share of the spoils above and beyond the current royalty based contracts, in other words they want a bigger slice of the pie without fronting any money or taking any risk 

 

7 hours ago, billd766 said:

 

quote " Just like the Japanese and all the other foreign investors did in 2014. "

 

So according to you there are no foreign investors left in Thailand. No Isuzu, Ford, Toyota, Mazda pickup, Honda, Nissan, Toyota, Ford. Chevrolet, Mercedes Benz cars. No DTAC or AIS, no foreign companies at all? No Toshiba, HP, Brother computer and printer companies at all? Nothing at all?

 

Wow, I must have a long Rip Van Winkle sleep to have missed that.

Yes young Rip you must have been far off in Noddy Land having a big big sleep. I hope you feel rested now and ready to hop into your pumpkin coach to go to your favourite bar for a morning reviver Try and get to bed early tonight.

 

Have a read of these these stories while you are sucking your thumb. You might learn something.

 

http://www.policyforum.net/off-cliff-collapse-japanese-investment-thailand/

http://www.straitstimes.com/asia/se-asia/foreign-investment-plummets-78-in-junta-ruled-thailand

10 hours ago, billd766 said:

 

quote " Just like the Japanese and all the other foreign investors did in 2014. "

 

So according to you there are no foreign investors left in Thailand. No Isuzu, Ford, Toyota, Mazda pickup, Honda, Nissan, Toyota, Ford. Chevrolet, Mercedes Benz cars. No DTAC or AIS, no foreign companies at all? No Toshiba, HP, Brother computer and printer companies at all? Nothing at all?

 

Wow, I must have a long Rip Van Winkle sleep to have missed that.

they may not be entirely gone but their investment has been scaled back to almost zero indicating that their goal is to leave. 2015 foreign investment down 80%. so far this year down 90% . at this rate it is just a matter of time before the foreign companies disappear completely and all those factories close.

7 hours ago, Brer Fox said:

Yes young Rip you must have been far off in Noddy Land having a big big sleep. I hope you feel rested now and ready to hop into your pumpkin coach to go to your favourite bar for a morning reviver Try and get to bed early tonight.

 

Have a read of these these stories while you are sucking your thumb. You might learn something.

 

http://www.policyforum.net/off-cliff-collapse-japanese-investment-thailand/

http://www.straitstimes.com/asia/se-asia/foreign-investment-plummets-78-in-junta-ruled-thailand

 

Absolutely except one side says yes it is slowing and another side says it isn't.

 

When I did a Google search on GDP growth for the EU that comes out at 0.6%

 

http://www.tradingeconomics.com/euro-area/gdp-growth

 

and for the UK it says 0.6% also which makes Thailand's 2% look reasonable.

 

http://www.tradingeconomics.com/united-kingdom/forecast

 

USA 1.2% growing slowly to 2% by 2020.

 

http://www.tradingeconomics.com/united-states/forecast