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Premier cuts free from Myanmar

British firm Premier Oil's decision to sell off its interests in Myanmar's Yetagun gas field in r...

Premier cuts free from Myanmar

This action ends Premier's 13 years of investment in the Myanmar field, which this year alone generated around 15,900 barrels of oil per day. This amount was sufficient enough to allow the company to double its pre-tax profits this year.

Human rights activists, however, have raised the issue of 'blood money' concerning the proposed shareholders' payout. A spokesman from the Burma Campaign UK - a group that has long advocated for Premier to pull out of the SEA country - believes that the money should be held in trust for the people of Burma and not for lining the pockets of the company's shareholders.

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