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Total, Chevron to exit Myanmar amid rights abuses

Total, Chevron to exit Myanmar amid rights abuses

14 Sept 00:57 Key points summarised by AI
  • Energy giants TotalEnergies and Chevron announced their withdrawal from Myanmar, citing the country's worsening human rights situation following last year's military coup.
  • The companies will exit the Yadana gas field, a significant project that provides electricity to local populations and is Myanmar's largest source of foreign currency revenue, directly impacting the military junta's finances.
  • The decision follows intense pressure from human rights groups and is seen as a "strong message" to the ruling junta, urging other companies to follow suit and increase economic pressure.
  • TotalEnergies highlighted the impossibility of sanctioning the junta without stopping gas production and payments to the military-controlled Myanmar Oil and Gas Enterprise (MOGE), despite efforts to limit financial flows.
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