Chevron, Total to stop Myanmar operations

Friday, 21. January 2022 10:57

Chevron Corp. and TotalEnergies SE announced on Friday that they will stop all operations in Myanmar over human rights abuses following the military coup that took place in 2021. Chevron said it has reconsidered its Yadana natural gas project and has planned an "orderly transition" from the country.

Meanwhile, Total explained it has not found a way to continue to produce gas from the Yadana field while limiting the financial flows received by Myanmar's national oil company MOGE. "While our Company considers that its presence in a country allows it to promote its values, including outside its direct sphere of operations, the situation, in terms of human rights and more generally the rule of law, which have kept worsening in Myanmar since the coup of February 2021, has led us to reassess the situation and no longer allows TotalEnergies to make a sufficiently positive contribution in the country," Total said, adding the withdrawal will be effective "at the latest at the expiry of the 6-month contractual period."

Related Links: TotalEnergies SEChevron Corp.
Author:
Baha Breaking News (BBN) / DJ