PTT Shows Interest In Controversial Myanmar Upstream

Thailand's national oil firm PTT has become the latest oil major to express an interest in Myanmar's controversial but promising upstream segment. The firm joins other, mainly state-owned, firms from China, India and Malaysia in courting the Myanmar government for access to its untapped hydrocarbons reserves. The country has been heavily criticised by the international community over its human rights record and economic policies, compelling Western international oil companies (IOCs) to carefully withdraw from the region under shareholder pressure. However, for neighbouring Asian countries, Myanmar's potential as a hydrocarbons producer outweighs the negative image of its government.

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