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Dragon oil and Turkmenistan
international |
anti-capitalism |
opinion/analysis
Wednesday October 18, 2006 17:13 by Joseph Peelo
Irish investment in one of worlds worst regimes Ireland has a company heavily invested in the Caspian sea's oilfields belonging to Turkmenistan. The corrupt and brutal nature of this dictatorship should preclude any ethical company from investing and yet Dragon Oil plc is almost totally dependent for its existence on a Production Sharing Agreement with this repressive regime. Dragon Oil plc claims to be an Irish company but the majority of its shares are owned by the Emirates National Oil Company (ENOC), 52.64%. |
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Jump To Comment: 1 2Thanks for this article. Found it on a random web search. I invested in Dragon just looking at the financials. Didn't appreciate just how bad the regime in Turkmenistan is. Looking much more into it, there has been a change of leader since this article but still things look very bad. I'm selling pretty much on your arguments as the recent production rates still make the share look cheap. I'm only sorry I didn't see this earlier!
Dragon Oil are not really Irish they are an Arab company UAE based. I invested and hope to make a rich picking from them. Ethical crap like the last comment is so narrow, all middle east is tainted. Buy the shares make the money EOS