Energy

TotalEnergies, Chevron withdraw from Myanmar amid humanitarian crisis

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This photograph taken on May 28, 2021 shows the new TotalEnergies logo during its unveling ceremony, at La Defense on the outskirts of Paris.

CHRISTOPHE ARCHAMBAULT | AFP | Getty Images

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 country.”

The company said its partners had been…



Source cnbc.com

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