This doesn’t bode well–from the JoongAng Ilbo:
Global energy firms were girding for war last year in their efforts to clinch contracts for oil and gas contracts around the world, especially around the Caspian Sea, in Nigeria and in Brazil. According to the Korea National Oil Corp., though, Korean companies signed only three new contracts out of the 1,773 signed.
The three contracts here all went to the state-run corporation: one in Yemen and the other two in the Middle East. The oil company now has the right to explore, develop and produce energy resources from those fields.
Interesting article. Read the rest on your own.
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One Comment
Interesting stuff. Instead of holding precariously to an ideology of ‘independence’ for South Korea, the government should just kick out the jams and be working full steam on building bridges and making connections with strategic partners. And at the same time, why ruin relationships with Japan and the US? Independence will mean nothing when you have no oil and no big backers to support you when things get rough, militarily or otherwise.