CNOOC (China) Burma partner owned by "heroin trafficker" family

By enquirewithin · Feb 27, 2008 · ·
  1. enquirewithin
    CNOOC (Chinese state oil company) Burma partner owned by "heroin trafficker" family

    According to the US Treasury, the partner of CNOOC Ltd (883) in its oil and gas projects in Burma is owned by the daughter-in-law of one of the world's leading heroin traffickers.

    Bush...[is] imposing financial sanctions against Mr Lo Hsing Han (Mr Lo), his son Steven Law (also known as Tun Myint Naing), and Law's wife Cecilia Ng, and various companies under their control, for providing support to the military junta currently ruling Burma.

    The Treasury says it has identified ten private companies in Singapore held by Cecilia Ng, including Golden Aaron Pte. Ltd (Golden Aaron), which it is sanctioning. The designation freezes any assets which are subject to US jurisdiction and prohibits all commercial transactions by any U.S. person (including US banks) with the designated persons. According to the US Government:

    "In addition to their support for the Burmese regime, Steven Law and Lo Hsing Han have a history of involvement in illicit activities. Lo Hsing Han, known as the "Godfather of Heroin," has been one of the world's key heroin traffickers dating back to the early 1970s. Steven Law joined his father's drug empire in the 1990s and has since become one of the wealthiest individuals in Burma."

    What the Treasury didn't mention, but we can tell you, is that Golden Aaron is the joint venture partner of Chinese government-controlled CNOOC Ltd exploring for oil and gas in Myanmar. According to an article in the Myanmar official daily, the first contract was signed on 22-Oct-04 in a ceremony attended by CNOOC chairman Fu Chengyu and Golden Aaron director Mr Chua Chay Jin.

    ....According to the PRC-run People's Daily (16-Dec-04), CNOOC Myanmar Ltd, Golden Aaron and China Huanqiu Contracting and Engineering Corp had signed contracts with Myanmar Oil & Gas Enterprise to explore two offshore oil and natural gas fields.

    CNOOC's 2004 annual report states (p16):

    "The Company [CNOOC], Golden Aaron Pte. Ltd. of Singapore and China Global Engineering Corporation formed a joint venture and entered into three PSC [Production Sharing Contract] contracts with Myanmar. The Company will serve as the operator."

    ....CNOOC has never stated who owns Golden Aaron, or why Golden Aaron was involved in the project. We can thank the US Treasury for that information. According to them, CNOOC's joint venture partner is held by the daughter-in-law of a Burmese heroin trafficker who in turn has close relations with the Burmese junta.

    Copyright, 2008

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  1. enquirewithin
    Drug trafficking? That's a laugh

    HK Standard Thursday, February 28, 2008

    The United States has announced economic sanctions against the joint-venture partner of CNOOC (0883) in Burma.

    The US Treasury Department levied sanctions against Singaporean citizen Cecilia Ng Sor-hong and the property interests of a company she owns, Golden Aaron. According to CNOOC's 2004 annual report, Golden Aaron is its joint-venture partner in Burma. Ng's father-in-law, Lo Hsing-han, was described by the Treasury as the "godfather of heroin."

    Ng's husband, Steven Law, was also added to the sanctions list for drug trafficking in Burma.

    "I don't know, I don't know I don't know what the US does," a spokesperson for CNOOC told Central Station, laughing.
  2. Triple7
    WAY TO GO! More oil reserves to America!

    When are they attacking Venezuela?
  3. enquirewithin
    Ironic, though, isn't it? The US is occupying a country which since their intervention has been producing 90% or so of the world's heroin. Another US client state produces most of the world's cocaine...
  4. Triple7
    If they attack Burma, then they can set up meth labs allover the country for a great production of meth to the world. Golden Triangle Reborn, why waste opportunities?

    Moon: One shovel pure heroin, 5$ only! Nobody, absolutely nobody not invited can put their foot inside. Who said drugs are expensive?
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