TotalEnergies cedes Myanmar gasfield to PTTEP, seeks no compensationThe logo of French oil and gas company TotalEnergies is pictured at an electric car charging and petrol station in the financial and business district of La Defense in Courbevoie near Paris, France, June 22, 2021. The company said Wednesday that it would not seek financial compensation for its withdrawal from Myanmar over concerns about human rights abuses since a coup last year. "In light of the exceptional situation, TotalEnergies has chosen to withdraw from Myanmar without seeking any financial compensation for its assets," the company said in a statement. The company's 31.4% stake in the Yadana gas field was the biggest in a consortium that included Chevron, Thai firm PTTEP and Myanmar's army-controlled MOGE. The Thai company said earlier this week that it would take over the running of the Yadana gas field in July.

Source: Bangkok Post March 17, 2022 00:11 UTC