Myanmar crisis puts IOCs in a bind
Oil companies active in the country face difficult choices as pressure to disengage intensifies
IOCs are feeling the heat over their continued engagement in Myanmar, more than three months after a coup that ousted the country’s democratically elected government and triggered accusations over the alleged flow of oil and gas revenues to the military junta’s coffers. NGOs and activist groups have ramped up pressure for targeted sanctions against the junta and an additional targeted measure against state-owned Myanmar Oil & Gas Enterprise (MOGE). Myanmar's parallel civilian government called on France’s Total—operator of the offshore Yadana development with a 32pc stake—to halt all revenues going to MOGE. And human rights organisations have now called on companies to place revenue pay
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy