ConocoPhillips deal

[saleen_s7]

Now it's Menon against ConocoPhillips deal


Tue, Jun 14th, 2011 1:22 am BdST
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Dhaka, June 13 (bdnews24.com) – Workers Party MP Rashed Khan Menon has urged the government not to sign the agreement with US firm ConocoPhillips to explore oil and gas in two deep-sea blocks.

Instead, the lawmaker said, the Production Sharing Contract (PSC) with the multinational company should be discussed in parliament first.

"The agreement with ConocoPhillips is scheduled to happen on June 16, but I urge the government not to sign it," he said in parliament while taking part in the supplementary budget discussion on Monday.

"While the government is planning to import LNG, the multinational will have the authority to export 80 percent of gas, and the country will be left with the rest 20 percent only," he said.

"This is a tragedy that on the one hand, the government is planning to import LNG, and on the other, allowing export of gas," he added.

The government had bowed to pressure from the multinational companies, as state-owned Bapex did not have the expertise to explore gas, Menon pointed out.

ConocoPhillips would be awarded hydrocarbon blocks 10 and 11 in the Bay of Bengal to explore oil and gas.

Protesting the agreement, citizen committee, the National Committee on Protection of Oil, Gas and Mineral Resources, Power and Ports, will lay a siege to the energy ministry on Tuesday.

They have long been protesting against the deal claiming it would allow the foreign company to plunder country's natural resources.

The country is divided into 52 blocks, 28 of which are in the Bay. The proven gas reserves are 7.3 trillion cubic feet (tcf) and probable reserves are 5.5 tcf.

The Houston, Texas-based ConocoPhillips won these blocks in 2008, but could not sign the PSC with state-run Bangladesh Oil, Gas and Mineral Corporation, or Petrobangla as part of these blocks was also claimed by India and Myanmar.

The agreement prohibits the American company from exploring the areas of the blocks claimed by Myanmar or India. ConocoPhillips will invest about $111 million and has offered a bank guarantee of the same amount for the two blocks.

Professor Anu Muhammad, member secretary of the citizen platform, has protested the government move, "which will see Bangladesh lose its ownership on the block".

He had told bdnews24.com that Bangladesh would not be able to take its part as "we don't have our own infrastructure [pipeline] to draw the gas in".

The Jahangirnagar University economics teacher further said Bangladesh itself could have explored the blocks by sub-contracting the job to international firms, which is what the US firm will do. "They don't have their own manpower here too," he added.

The government has recently inked a deal with Santos-Halliburton, who are now working in the offshore Sangu gas field in block 16 after Cairns left it to them. According to the agreement signed on May 16, the foreign firms will be allowed to sell gas to third parties at high prices.

The country currently produces gas of around 2,000 million cubic feet (mmcft) per day against demand of more than 2,500 mmcft and thus, its industries and residences are facing trouble.

bdnews24.com/ssz/pks/nir/2345h
Now it's Menon against ConocoPhillips deal | Business | bdnews24.com

 

[TopCat]

This anti Bangladesh Anu Mohammed needs a good beating up. They did last time but not enough. He probably works for RAW or ISI.

 

[integra]

This anti Bangladesh Anu Mohammed needs a good beating up. They did last time but not enough. He probably works for RAW or ISI.

Can you clarify how someone protesting a deal which will result
in losing our authority in some blocks to the Americans be considered as anti-Bangladeshi?

Bapex should get more serious, they get enough funds for buying
sufficient rigs anyways. Secondly BNP should try to learn something
from Menon.

 

[eastwatch]

Can you clarify how someone protesting a deal which will result
in losing our authority in some blocks to the Americans be considered as anti-Bangladeshi?

Bapex should get more serious, they get enough funds for buying
sufficient rigs anyways. Secondly BNP should try to learn something
from Menon.

You have to watch the past activities of this Anu Mohammad and Associates to know about their intention. This group is against a developed Bangladesh. Menon and Anu Mohammad are communists, who want to play the poverty game. They want a poor BD so that people can support their communism.

This group does not want exploration of even our coal in the NW region and would cite many excuses. Now, they have found some other excuses to denounce international oil and gas companies. They say very stupid things such as BD does not have a pipeline to bring in gas to CTG, as if it cannot be constructed. They say Conoco will build an LNG plant without saying if it is profitable for this company.

In reality, ConocoPhillips wants to sell its share of gas directly to the domestic market at a higher price instead of sellling it to BAPEX at a lower price. But, Menon and Anu Mohammad want to derail the treaty. If it happens the way this communist gang wants, it will stop industrial development in the country, and will make BD dependent upon imported LNG.

 

[fallstuff]

Production sharing agreement in Asia-Pacific:


http://www.conocophillips.com/en/about/company_reports/fact_book/documents/Asia_Pacific.pdf

If Mennon can create enough problems, he can get a thing or two to shut him off, commonly known as hush money.

 

[BanglaBhoot]

You have to watch the past activities of this Anu Mohammad and Associates to know about their intention. This group is against a developed Bangladesh. Menon and Anu Mohammad are communists, who want to play the poverty game. They want a poor BD so that people can support their communism.

This group does not want exploration of even our coal in the NW region and would cite many excuses. Now, they have found some other excuses to denounce international oil and gas companies. They say very stupid things such as BD does not have a pipeline to bring in gas to CTG, as if it cannot be constructed. They say Conoco will build an LNG plant without saying if it is profitable for this company.

In reality, ConocoPhillips wants to sell its share of gas directly to the domestic market at a higher price instead of sellling it to BAPEX at a lower price. But, Menon and Anu Mohammad want to derail the treaty. If it happens the way this communist gang wants, it will stop industrial development in the country, and will make BD dependent upon imported LNG.

After a very long time I find something to agree with you and Iajdani about.

When Dr. Anu Muhammad and his committee originally came on the scene they opposed all foreign deals including the ones by India and Russia. I recently conducted a survey of all proposed and actual investment deals involving the USA, China, India and Russia since the coming of power of the AL. In the two years up to April 2011 eighty per cent of all government and private investment proposals came from India and Russia and the remaining ten per cent from the USA and China. In the last two years years Dr. Anu Muhammad and his committee never once opposed the investment offers involving India or Russia but directly or indirectly opposed every single one by the USA or China. I have traced every single news and economic report regarding these issues. To be considered genuine and trust worthy Dr. Anu Muhammad and his committee presented themselves during the BNP regime as more nationalist than the nationalists but this was all a show.

This was a comprehensive 38 page report and covered everything but is confidential. Everyone knows that my research is meticulous. I think the facts speak for themselves.

 

[BanglaBhoot]

This anti Bangladesh Anu Mohammed needs a good beating up. They did last time but not enough. He probably works for RAW or ISI.

Probably RAW. The ISI does not go in for civil campaigns. The Indians are far better at that type of espionage and disinformation tactics.

 

[eastwatch]

After a very long time I find something to agree with you and Iajdani about.

When Dr. Anu Muhammad and his committee originally came on the scene they opposed all foreign deals including the ones by India and Russia. I recently conducted a survey of all proposed and actual investment deals involving the USA, China, India and Russia since the coming of power of the AL. In the two years up to April 2011 eighty per cent of all government and private investment proposals came from India and Russia and the remaining ten per cent from the USA and China. In the last two years years Dr. Anu Muhammad and his committee never once opposed the investment offers involving India or Russia but directly or indirectly opposed every single one by the USA or China.

I have traced every single news and economic report regarding these issues. To be considered genuine and trust worthy Dr. Anu Muhammad and his committee presented themselves during the BNP regime as more nationalist than the nationalists but this was all a show.

This was a comprehensive 38 page report and covered everything but is confidential. Everyone knows that my research is meticulous. I think the facts speak for themselves.

This group is totally pro-Indian and is fed with RAW money to disturb the progress of Bangladesh. They openly conspire with India. While this group was creating issue with coal mining, there was a meeting with them with the CM of west Bengal.

The CM was talking about the importance of those mines for the development of his state. This group seemed agreed to his statement. It means if coal from the NW mines are sold and used for the development of west Bengal, they have no objections.

Bangladesh has about 2,500 million tonnes of coal that are not extracted when our factories remain closed and new production factories are not being built due to shortage of power. In terms of energy, the 2,500 tonnes of coal is equivalent to about 90 trillion cft of gas. In comparison, the country has about 32 trillion cft of gas.

While this Anu group resists coal production, it says nothing when Indian businesses proposes two India supplied coal-fed power plants in Khulna. Ash and sulpher contents of low quality Indian coal are much higher than BD coal. It will create more pollution. Moreover, why do we have to buy coal when we have plenty?

About your Anu Report, you may post it in many segments to the PDF for us to read and learn.

 

[fallstuff]

Is Mennon being honest when he says 80% of the entire production can be sold by Conoco in open market ? I think he is not being honest. Its 80% of Conoco's share I think. Its only fair that they can sell their share in the open market.

Because energy prices are so high, consequently these companie's services are high in demend, so they are demanding more.

 

[M_Saint]

Production sharing agreement in Asia-Pacific:


http://www.conocophillips.com/en/about/company_reports/fact_book/documents/Asia_Pacific.pdf

If Mennon can create enough problems, he can get a thing or two to shut him off, commonly known as hush money.

BTW, Ex-Prez Ershad once revealed that Commie bastard used to take TK50,000 bribe Per/Month for not to use 'Trade unioniers' against his illegal rulling of BD. Menon Mo-Fo is a outright liar that throws Goeblian type of lies to over-power naive BNP-JAMAATI Walas. My brother was a presiding officer of another Commie Saitan, MUA run election, in where people voted Habibunnabi Sohel but cheating bastard, Menon electioneered it in his favor.