: After Myanmar coup, are India’s oil investments helping support the military? #IndiaNEWS India’s top diplomats have strongly condemned Myanmar’s military junta for a deadly crackdown on protesters

After Myanmar coup, are India’s oil investments helping support the military? #IndiaNEWS
India’s top diplomats have strongly condemned Myanmar’s military junta for a deadly crackdown on protesters since a February 2021 coup but experts say that longstanding oil-and-gas deals between the neighbouring countries may now be helping to support the brutal new regime.As of 2019, the state-owned Indian Oil and Natural Gas Corporation had invested 2 million in four ventures with the state-owned Myanmar Oil and Gas Enterprise or MOGE, public records show. Since the coup, the Burmese military has gained exclusive control of MOGE and the nation’s lucrative oil and gas industry.“India’s investments in Myanmar are untenable under the current circumstances – both morally and politically,�? said Angshuman Choudhury, who studies conflict in Myanmar at the Institute of Peace and Conflict Studies, a New Delhi think tank. “This regime won’t last long and civilian accountability will come soon. When that happens, India will have a lot to answer for.�?Long-standing agreementsIndia’s oil and gas investments in Myanmar date back to at least 2002, when ONGC’s overseas arm – ONGC Videsh (International) Ltd – acquired a 20% stake in a 2,129 sq km block off the Rakhine coast in north-western Myanmar. In 2006, it acquired a 20% stake in an adjacent block.The company director’s report for 2010 mentions that the firm “is participating in the complete...Read more

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