President Barack Obama has arrived in Southeast Asia.He visited Myanmar today,Monday,the first sitting US president to do so.Later,he will attend the ASEAN summit in Phnom Penh,Cambodia.The President is expected to seek trade opportunities in the region;the ASEAN leaders will be discussing territorial disputes with China in the South China Sea,as well as human rights,at the summit.
The President went to Myanmar,formerly known as Burma,to encourage the country's transition to democracy from military dictatorship.He will also be the first sitting US president to visit Cambodia.
Australia's Woodside Petroleum is also working in Myanmar.CEO Peter J. Coleman said we see Mynamar as holding a lot of promise for the future.We expect to be drilling maybe sometime around 2014.
Woodside Petroleum is Australia's largest dedicated oil and gas firm.It is a world leader in liquified natural gas production.Mr.Coleman,who has a BEng and an MBA,had served 27 years with Exxon Mobil before assuming his current leadership role.
The IEA says world energy demand will increase by one third by 2035.
The MSCI Asia Pacific index rose 1.15% in early Monday trading,and Asian currencies were up on optimism the US will avoid going over the fiscal cliff.
Woodside Petroleum Ltd(ASX:WPL)
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