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Oil majors TotalEnergies and Chevron withdraw from Myanmar citing worsening humanitarian crisis [CNBC]
Last chevron corporation earnings: 5/1 06:45 am
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offshore gas field and the MGTC transportation system without any financial compensation. The U.N. has said the situation in Myanmar has been worsening since the turn of the year, warning that people in the country are facing an “unprecedented” political, socioeconomic and humanitarian crisis. “In light of circumstances in Myanmar, we have reviewed our interest in the Yadana natural gas project to enable a planned and orderly transition that will lead to an exit from the country,” a spokesperson for Chevron told CNBC. French oil giant TotalEnergies and U.S. energy firm Chevron on Friday announced plans to withdraw from Myanmar, citing the deteriorating humanitarian crisis in the Southeast Asian country following last year's coup. TotalEnergies said it had started the process of withdrawing from the Yadana offshore gas field and the MGTC transportation system as the situation in the country “no longer allows TotalEnergies to make a sufficiently positive contribution in the coun
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