Results 1 to 7 of 7
  1. #1
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413

    Exxon and Chevron are under pressure from Thailand's military-appointed government

    Chevron, Exxon under pressure to list Thai refiners

    Fri Aug 31, 2007 2:59AM EDT
    By Khettiya Jittapong and Wilawan Pongpitak

    BANGKOK, Aug 31 (Reuters) - Exxon and Chevron are under pressure from Thailand's military-appointed government to make good on a pledge made 15 years ago to float shares in their local oil refineries in Bangkok next year.

    Esso (Thailand), a unit of Exxon Mobil Corp (XOM.N: Quote, Profile, Research), and Chevron's (CVX.N: Quote, Profile, Research) Star Petroleum Refining Co (SPRC) are expected to submit filings of listing plans by the year-end, Energy Minister Piyasvasti Amranand said.

    "We want the filings done within this government. They are trying to postpone until the next government, which will open a chance for them to keep delaying," Piyasvasti told Reuters ahead of a general election set for Dec. 23.

    The government is trying to lure high-profile companies to the Bangkok stock market, but many investors are wary about Thailand after last year's military coup, making firms timid about jumping into the stock market to raise capital.

    The latest drive for a listing comes just as global equity markets are shaken by fears about U.S. subprime lending.

    The government thinks the two listings could add up to 60 billion baht ($1.75 billion) to the Thai stock market.

    "We want Thais to own the refineries and it's a condition that should benefit the stock market by having more good stocks," Piyasvasti said.

    Listing was a condition of the 1991-92 deals which allowed Esso and SPRC to build refineries in Thailand. They are the only two of Thailand's seven refiners which have yet to list. Failure to do so could mean losing their licence to operate.

    continues
    reuters.com

  2. #2
    watterinja
    Guest
    A definite nationalisation trend continues...

  3. #3
    I am in Jail

    Join Date
    Aug 2007
    Last Online
    15-12-2012 @ 03:35 PM
    Posts
    5,908
    Maybe I should give the Junta Hugo Chavez telephone number.

  4. #4
    Dis-member
    Dougal's Avatar
    Join Date
    Nov 2005
    Last Online
    13-07-2019 @ 01:53 PM
    Location
    Head Rock
    Posts
    3,507
    Quote Originally Posted by chinthee View Post
    Maybe I should give the Junta Hugo Chavez telephone number.
    Venezula is an exporter of oil and can tell the American companies to go to hell. Thailand is an importer of oil and does not have the same clout.

  5. #5
    I am in Jail

    Join Date
    Aug 2007
    Last Online
    15-12-2012 @ 03:35 PM
    Posts
    5,908
    Quote Originally Posted by Dougal View Post
    Quote Originally Posted by chinthee View Post
    Maybe I should give the Junta Hugo Chavez telephone number.
    Venezula is an exporter of oil and can tell the American companies to go to hell. Thailand is an importer of oil and does not have the same clout.
    Absolutely true. Good point. Really Thailand should be careful because the world might soon say "watch it, I don't like your attitude." And, take its marbles and go home.

  6. #6
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    why the push , now ??

    scratching for pennies ??

  7. #7
    I am in Jail

    Join Date
    Aug 2007
    Last Online
    15-12-2012 @ 03:35 PM
    Posts
    5,908
    Quote Originally Posted by Mid View Post
    why the push , now ??

    scratching for pennies ??
    Absolutely so stupid, all this push of legislation by this group. Why don't they wait until "professionals" are in place in the next elected administration? Boggles the mind.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •