BANGKOK: U.S. energy major Chevron Corp has decided to continue negotiations with Thailand rather than seek arbitration to resolve a dispute over who should pay the bill for removing offshore oil and gas platforms, the company told Reuters on Wednesday.
A spokesman for Thailand's energy ministry on Wednesday said he could not comment on talks with Chevron. Chevron is due to hand over operation of the Erawan gas field to Thailand's state-owned oil firm PTT Exploration and Production Pcl in April 2022 when its concessions expire. The new law would require Chevron to pay the future costs of decommissioning the assets it has installed, including those it transfers over to PTTEP.
Other operators in Thailand are watching the dispute closely in case it changes their future liabilities for assets in Thailand. Foreign investors in Thailand in other industries were also concerned about what precedent the case might set for the sanctity of their contracts.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Major Thai stores to stop giving out plastic bags by 2020: MinisterBANGKOK: Retailers and convenience stores in Thailand have pledged to stop giving plastic bags to customers from next year in a bid to reduce ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Male model arrested in widely publicised Thai sex caseRatchadech Wongtabut was accused of taking an unconscious woman home, boasting online about his sexual exploits, and leaving her lifeless body in the lobby of his building.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
iSTOX raises undisclosed Series A funds from Thai bank KKPDIGITAL securities platform iSTOX has raised an undisclosed amount of Series A funds from Kiatnakin Phatra Financial Group (KKP), a Thai investment bank, the startup announced on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Trump says he deserves Nobel Prize, 'ready' to mediate between India and Pakistan over Kashmir disputeWASHINGTON (WASHINGTON POST) - US President Donald Trump claimed Monday (Sept 23) that he deserves a Nobel Prize for 'a lot of things' but complained that the committee that hands out the awards does so unfairly.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Major Thai stores to stop giving out plastic bags by 2020: MinisterBANGKOK: Retailers and convenience stores in Thailand have pledged to stop giving plastic bags to customers from next year in a bid to reduce ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Male model arrested in widely publicised Thai sex caseRatchadech Wongtabut was accused of taking an unconscious woman home, boasting online about his sexual exploits, and leaving her lifeless body in the lobby of his building.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »