Energy giant TotalEnergies(TOTF.PA) said on Friday it had gone as far as it could for now to limit the revenues going to the military junta in Myanmar while staying within a legal framework and assuring power supplies.
In response to repeated calls for them to cut ties with the military regime in Myanmar, energy giants Total of France and Chevron of the US on Wednesday announced they have suspended some payments to their joint venture with a state-owned company controlled by the coup leaders.
PetroChina International Singapore Pte Ltd sold a cargo of jet fuel into Myanmar in April, according to government import data reviewed by Reuters, the first such shipment since before the military seized power in a coup in February.
Given the worsening civil strife tearing down Myanmar, Ayala-led firm AC Energy Corporation indicated that it is temporarily slowing down on its renewable energy ventures in that country. “Regarding Myanmar, we will have to wait until the situation stabilizes before we can expand,” AC Energy President and CEO Eric T. Francia said.
The Myanmar junta is pressing ahead with a plan to reopen a disused oil refinery in Yangon’s Thanlyin Township, which a state-owned Indian company has expressed an interest in taking over.
Myanmar‘s military rulers have approved new investment in projects worth nearly $2.8 billion, including a liquefied natural gas (LNG) power plant that will cost $2.5 billion, the country’s investment body said. Approvals for 15 projects were given on Friday by the Myanmar Investment Commission, according to a statement on the website of the Directorate of […]
Myanmar’s military has received hundreds of millions of dollars from natural gas sales through a financial scheme linked to the Myanmar-Thailand pipeline, a French newspaper has reported.
TAIPEI/YANGON — Chinese energy companies contracted to build power plants in Myanmar have had their projects put on hold, and some are considering exiting the market, in a sign of how the military coup in the Southeast Asian country may be deterring even thick-skinned Chinese investors.
The Rockefeller Foundation has pledged $1.5m to support developing countries in their move away from fossil fuels. The fund is part of a facility launched by the Energy Transition Council, a global coalition of leaders committed to achieving net-zero emissions by mid-century
SEOUL: South Korean steelmaker POSCO said on Monday it does not believe its unit POSCO International’s gas projects in Myanmar have a direct link to the military which seized power there in February. The unit’s gas business had existed for about 20 years, persisting through regime change, and related payments were paid to the Myanmar […]