Robert Besser
24 Jan 2022, 07:36 GMT+10
PARIS, France: Two of the largest energy companies have announced that they are leaving Myanmar, citing human rights abuses and deteriorating rule of law since the February military coup.
Total Energy and Chevron, two of the world's largest energy companies, have come under increasing pressure over their roles in running the offshore Yadana gas field, along with the state-owned Myanma Oil and Gas Enterprise and Thailand's PTT Exploration & Production.
Total operates the daily operations, while Myanma Oil and Gas collects revenues for the government.
Total said it will have left Myanmar within six months. Chevron gave no time line for what it described as a "planned and orderly transition that will lead to an exit from the country."
"The situation of rule of law and human rights in Myanmar has clearly deteriorated over months and despite the civil disobedience movements, the junta has kept power and our analysis is that it's unfortunately for the long term," Total said in a statement.
Speaking to the Associated Press on condition of anonymity, a former employee told The Associated Press, "For the employees who still work for Total, it's bad news even if they oppose the dictatorship or fight against the military. But for me, as an ordinary person and not as an employee, I will say it is great news." Total said it would receive no compensation on leaving Myanmar, and would hand over its interests to the other stakeholders.
In the recent past, Chevron has condemned human rights abuses in Myanmar and said it would comply with international sanctions.
Get a daily dose of Salt Lake City Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Salt Lake City Sun.
More InformationSACRAMENTO, California: In another blow to the state's push to diversify corporate leadership, a California court judge has ruled that ...
KATHMANDU, Nepal - According to the World Organization for Animal Health (OIE), Nepal has reported its first cases of African ...
NEW YORK, New York - U.S. stock markets reversed sharp losses in late trading to eke out minor gains in ...
WASHINGTON D.C.: U.S. retail sales rose strongly in April, as consumers bought more motor vehicles and spent more at restaurants, ...
LONDON, England: The UK's jobless rate fell to a 48-year low in the first three months of 2022, it was ...
SYDNEY, NSW, Australia - A reduction of the official lending criteria in China has boosted stocks on the mainland, and ...
MIAMI, Florida: Local media reported that one person was killed and five were injured when a small plane crashed on ...
The Texas Rangers have won five of their past six games and look to continue their hot streak when they ...
The Atlanta Braves are starting to receive the offensive performance they expected from Marcell Ozuna, who will take a three-game ...
The St. Louis Cardinals are undertaking a youth movement during their road series this weekend against the Pittsburgh Pirates, but ...
The Los Angeles Dodgers started their 10-day, 10-game road trip with an impressive 4-1 victory over the host Philadelphia Phillies ...
New Delhi [India], May 21 (ANI): Hockey India on Saturday named a 24-member Indian Women's Hockey Team for the FIH ...