{"id":227217,"date":"2013-10-24T17:56:54","date_gmt":"2013-10-24T09:56:54","guid":{"rendered":"http:\/\/charltonsnaturalresources.com\/?p=227217"},"modified":"2021-08-16T16:56:09","modified_gmt":"2021-08-16T08:56:09","slug":"natural-resources","status":"publish","type":"post","link":"https:\/\/charltonsnaturalresources.com\/en\/natural-resources\/","title":{"rendered":"Charltons Natural Resources Newsletter"},"content":{"rendered":"[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;CNR NEWSLETTER&#8221; module_class=&#8221;cnl-wrapper&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_row admin_label=&#8221;Header&#8221; module_class=&#8221;cnr-nl-header&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.2&#8243;][et_pb_text admin_label=&#8221;Header&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-header\">\r\n<div class=\"cnl-type\">NATURAL RESOURCES<\/div>\r\n<div class=\"cnl-issue\">Newsletter-Issue 006<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Logo&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Logo&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-logo\">\r\n<img decoding=\"async\" src=\"\/legal\/newsletters\/cnl_logo.jpg\" alt=\"Charltons Natural Resources\" \/>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Banner&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Banner&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-banner\">\r\n<div class=\"cnl-banner-image\"><img decoding=\"async\" src=\"\/legal\/newsletters\/newsletter_issue_006.jpg\" alt=\"Charltons Natural Resources Newsletter\" \/><\/div>\r\n<div class=\"cnl-title\">\r\n<div>\r\n<span>October 2013<\/span>\r\n<h1>Charltons Natural Resources Newsletter<\/h1>\r\n<div class=\"cnl-pdf\"><a href=\"\/images\/stories\/newsletters\/naturalresources\/2013\/nrh006-24Oct2013.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Download PDF<\/a><\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; admin_label=&#8221;Content&#8221; module_class=&#8221;cnl-main-content&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;column1&#8243; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-column cnl-col1\">\r\n<div class=\"cnl-text\">\r\n<ul>\r\n<li><p>Malaysia\u2019s  PETRONAS  Carigali  (Petronas)  plans  to  drill exploration wells at two upper Myanmar onshore blocks in January 2014. It acquired the two blocks RSF-2 and RSF -3 in a 2011 bidding round. Petronas\u2019 General Manager Mr. Ahmad Lutipi Haron said \u201cWe have already finished early exploration and  geophysical  analysis  and  can  start  drilling  exploration wells early next year.\u201d  The blocks might be operational the blocks by 2018. Petronas has exported 400 million cubic feet of natural gas through Thailand\u2019s PTTEP from the Yetagun offshore block. ( From Weekly Eleven News, 21 October 2013)<\/p><\/li>\r\n<li><p>The  Ministry  of  Oil  and  Gas  Enterprises  (MOGE)  has reiterated that companies who are successful in the on-shore and  shallow  offshore  bidding  rounds  must  enter  into  joint ventures (JV) with at least one of 157 Myanmar companies registered with MOGE.  The requirement to establish a JV was contained in the bidding terms and the provisions of the 2012 Foreign Investment Law. (From Weekly Eleven News, 21 October 2013)\u2022Successful  bidders  in  the  2012  on-shore  and  shallow offshore  bidding  rounds  will  also  need  to  perform  an Environmental  Impact  Assessment  (EIA)  and  a  Social Impact  Assessment  (SIA)  before  receiving  MOGE  approval to commence exploration activities.  They will be required to continuously  monitor  operation  performance  in  accordance with the EIA and SIA reports.  (From The Trade Times, 22 October, 2013)<\/p><\/li>\r\n<li><p>According  to  Chinese  media  reports  the  Shwe  natural gas  pipeline  running  from  Myanmar  to  China  is  now  fully operational.  The pipeline which stretches for more than 2,500 kilometers from western Myanmar to southwest China will help the world\u2019s second-largest economy feed its growing energy needs. The Global Times has reported that the pipeline, which opened in July after three years of construction, \u201chas gone into full operation\u201d. It runs from Kyaukpyu on the west coast of Myanmar and will deliver gas to China\u2019s energy-deprived southwest,  including  Yunnan,  Guizhou,  Chongqing  and Guangxi. The pipeline also passes through the Chinese border town of Ruili.  The added delivery of 12 billion cubic meters (420 billion cubic feet) a year will cut gas prices and reduce coal  use.  The  pipeline  will  help  China  diversify  its  energy imports, according to Lin Boqiang, a professor at the China Center for Energy Economics Research at Xiamen University.  Mr. Lin Boqiang noted that \u201cCurrently, China\u2019s piped gas is mainly imported from areas around the Malacca Strait&#8230;now, we have one more [overland] pipeline [to mitigate risk]\u201d  (From www.thejakartaglobe.com, 21 October 2013)<\/p><\/li>\r\n<li><p>Officials   from   Myanmar\u2019s   Gemstone   Investigation Committee are reviewing the industry\u2019s tender system from a legal compliance perspective.   The review should be completed  between  January  and  March  2014.    (From  The Trade Times, 22 October, 2013)<\/p>\r\n<p><img decoding=\"async\" src=\"\/legal\/newsletters\/issue_06_photo_01.jpg\" \/><\/p>\r\n<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;column2&#8243; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-column cnl-col2\">\r\n<div class=\"cnl-text\">\r\n<ul>\r\n<li><p>China\u2019s largest oil company the China National Petroleum Corp  (CNCP)  will  cooperate  in  the  development  of  the Russia-owned East Siberia oil fields following the signing of a memorandum of understanding (MoU) between CNPC, and Russian state-owned petroleum giant Rosneft.  Pursuant to the MoU CNPC will take a 49% stake in the Srednebotuobinsk field  with  Rosneft  retaining  51%.  The  Russian  state-owned giant  preferred  to  sign  a  loan-based  deal  with  China  but eventually accepted a partnership arrangement in an effort to address its debts of more than US$57billion (\u00a335billion). This is the second deal that Rosneft has entered into with a Chinese company. It is already jointly producing oil in co-operation with Sinopec.( From Aleksandra Jurczak, 18 October 2013)<\/p>\r\n<p><img decoding=\"async\" src=\"\/legal\/newsletters\/issue_06_photo_02.jpg\" \/><\/p>\r\n<\/li>\r\n<li><p>Russia\u2019s  En+  Group  has  signed  its  first-ever  energy framework agreement with power producer China Huaneng Group to develop yet to be identified power projects in Russia.   En+ has set its business focus on developing projects in Asia, and the agreement with Huaneng is \u201canother step further of the Russia-China long-term energy cooperation,\u201d En+ said, The EN+ Group &#8212; which is owned Oleg Deripaska who has a controlling stake in the world\u2019s largest aluminum producer Rusal &#8212; said it signed a \u201ccooperation agreement\u201d with Chinese power and coal giant China Huaneng to develop joint power projects  in  Russia.    The  agreement  was  signed  by  En+ president Deripaska and Huaneng\u2019s president Cao Peixi. This month,  En+  Group\u2019s  subsidiary  coal  producing  Vostsibugol Company, signed contracts with China Coal, Harbin Railway of China and Posco of South Korea involving the supply of 3 million mt of Russian coal over the next three to five years.  In  March,  En+  Group,  China\u2019s  Shenhua  Group,  and  China Development Bank signed a $2 billion deal to develop Russian coal resources. (Source Platts.com , October. 24, 2013<\/p><\/li>\r\n<li><p>The price of gold jumped by more than $20 or 1.8% an ounce on Tuesday 22 October to a three-week high of $1,340 With positive sentiment returning to the gold market, investors took the chance to jump back into mining stocks which have been decimated by a 20% retreat in the price of the metal this year. On Tuesday Barrick Gold Corp (TSE:ABX) shot up 4.8%, achieving the $20 billion market value for the first time in a month. The world\u2019s number one gold miner has added more than $5 billion in market value since hitting a 21-year low in early July. (www.mining.com, 22 October 2013)<\/p><\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Button Navs&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;navs&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-bott-navs\">\r\n<div><span><\/span><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mmyanmar-onshore-tender-winners-announced\/\" target=\"_self\">Mmyanmar onshore tender winners announced<\/a><\/div>\r\n<div><a href=\"https:\/\/charltonsnaturalresources.com\/en\/charltons-wins-euromoney-asia-women-in-business-law-award\/\" target=\"_self\">Charltons wins Euromoney Asia Women in Business Law Award<\/a><span><\/span><\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Legal Advice&#8221; _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Legal Advice&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-legal-advice\">\r\n<h3>This newsletter is for information purposes only.<\/h3>\r\n<p>Its contents do not constitute legal advice and it should not be regarded as a substitute for detailed advice in individual cases.\r\nTransmission of this information is not intended to create and receipt does not constitute a lawyer-client relationship between Charltons and the user or browser.\r\nCharltons is not responsible for any third party content which can be accessed through the website.<\/p>\r\n<p>If you do not wish to receive this newsletter please let us know by emailing us at <a href=\"mailto:unsubscribe@charltonslaw.com\">unsubscribe@charltonslaw.com<\/a><\/p>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=&#8221;Footer&#8221; _builder_version=&#8221;4.4.3&#8243; disabled_on=&#8221;on|on|on&#8221; disabled=&#8221;on&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text admin_label=&#8221;Footer&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"cnl-footer\">\r\n        <div class=\"cnl-footer-award\">\r\n                <div>\r\n                       <img decoding=\"async\" src=\"\/legal\/newsletters\/cnl_logo_footer.png\">\r\n                        <h2>Best Boutique Firm 2013<\/h2>\r\n                        <span>Asian Legal Business Awards<\/span>\r\n                <\/div>\r\n        <\/div>        \r\n<\/div>\r\n<div class=\"cnl-foot-address\">\r\n        <div>Hong Kong Office: Dominion Centre, 12th Floor, 43-59 Queen\u2019s Road East, Hong Kong Tel: + (852) 2905 7888 Fax: + (852) 2854 9596<\/div>\r\n        <div>Website: <a href=\"https:\/\/www.charltonslaw.com\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/www.charltonslaw.com<\/a><\/div>\r\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"Malaysia&#8217;s PETRONAS Carigali (Petronas) plans to drill exploration wells at two upper Myanmar onshore blocks in January 2014. It acquired the two blocks RSF-2 and RSF -3 in a 2011 bidding round. Petronas&#8217; General Manager Mr. Ahmad Lutipi Haron said &#8220;We have already finished early exploration and geophysical analysis and can start drilling exploration wells early next year.&#8221; The blocks might be operational by 2018. Petronas has exported 400 million cubic feet of natural gas through Thailand&#8217;s PTTEP from the Yetagun offshore block. ( From Weekly Eleven News, 21 October 2013)","protected":false},"author":1,"featured_media":227223,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"fifu_image_url":"https:\/\/www.charltonsnaturalresources.com\/legal\/news\/newsletter\/natural-resources.jpg","fifu_image_alt":"Charltons Natural Resources Newsletter","footnotes":""},"categories":[23],"tags":[],"class_list":["post-227217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","cat-23-id"],"_links":{"self":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/comments?post=227217"}],"version-history":[{"count":14,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227217\/revisions"}],"predecessor-version":[{"id":233644,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/posts\/227217\/revisions\/233644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/media\/227223"}],"wp:attachment":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/media?parent=227217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/categories?post=227217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/tags?post=227217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}