Woodside Petroleum on Thursday joined multinational oil majors Chevron and TotalEnergies in plans to exit Myanmar, nearly a year after a military coup plunged the Southeast Asian nation into turmoil.
International companies doing business in the country have come under pressure from rights groups to review their operations to stop payments flowing to a military government that seized power on Feb. 1.Nearly 60 days after the February coup, French renewable power producer Voltalia said it would withdraw from its site in the country, where it employed 43 on-site staff, mostly locals.
But TotalEnergies also said halting production at the Yadana gas fields, which supply Thailand and Myanmar, would expose the group and workers to legal threats and penalise the region in terms of energy access. Adani Ports, India's largest port operator, planned to build a container terminal in the city of Yangon on land leased from a Myanmar military-owned conglomerate.Norwegian telecoms company Telenor, one of Myanmar's biggest foreign investors, said it would sell operations there to Lebanon's M1 Group.British American Tobacco, the maker of Lucky Strike cigarettes pledges to cease all operations in Myanmar by the end of the year.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »