Gas Majors Halt Myanmar Projects While Total Stays Put
(Nikkei Asia) Energy multinationals have decided to halt natural gas development projects in Myanmar amid concerns that the junta is deriving foreign currency from the ventures. But France’s Total is poised to remain, arguing that the public stands to lose from electricity shortages.
Malaysian oil major Petronas announced early this month that it would indefinitely suspend production at the Yetagun gas field off the southern coast of Myanmar. It declared force majeure over “a drastic decline in production level” since January, with output “well below the technical turndown rate,” an executive said in a news release.
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South Korea steel giant POSCO weighs how to exit Myanmar military-backed venture: Sources Toggle share menu
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South Korea steel giant POSCO weighs how to exit Myanmar military-backed venture: Sources
The logo of POSCO is seen at the company s headquarters in Seoul, South Korea, Jul 20, 2016. (Photo: Reuters/Kim Hong-ji)
05 Apr 2021 04:20PM (Updated:
05 Apr 2021 05:06PM) Share this content
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SEOUL: Giant South Korea steelmaker POSCO has begun reviewing how it might end a joint venture with a firm controlled by the military in Myanmar in the wake of the coup there in February, two people with first-hand knowledge of the matter told Reuters.