Protesters against the military junta in Myanmar
TotalEnergies quits Myanmar
The French major is transferring its stake in the Yadana gas field to its partners
TotalEnergies has announced its withdrawal from Myanmar, nearly a year after a military coup in the Southeast Asian nation. The French major has also signalled its support for any sanctions that would prevent gas revenues from reaching the ruling junta. TotalEnergies operates the Yadana gas field with a 31.24pc stake, alongside partners Chevron (28.26pc), Thai NOC PTT (25.5pc) and state-run Myanma Oil and Gas Enterprise (MOGE, 15pc). The French major, which has done business in the country since the 1990s, plans to transfer its stake to its partners within a six-month notice period, without financial compensation. Chevron has also said it will eventually withdraw from Yadana as part of a “pl
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
