TotalEnergies said Wednesday that it has “definitively withdrawn” from Myanmar following its announcement in January that it had decided to exit the Yadana field and from gas transportation company MGTC, both as shareholder and as operator, within six months.
PetroChina may exit natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa, and central Asia, reported Reuters, citing people with knowledge of the matter.
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
TotalEnergies (LSE: TTE) and Chevron (NYSE:CVX) said today that they will exit Myanmar due to the worsening situation in the Southeast Asian country, particularly concerning human rights abuses by the junta, since the military-led coup on 1 February 2021.
Sojitz, a major Japanese trading house, has announced it will accelerate its exit from thermal coal by halving its investments in projects by 2025 and eliminating them entirely by 2030.
Shell is carrying out a strategic review of its assets in New Zealand as it looks to streamline costs amid the continue decline in oil price. The oil major will carry out the assessment to see how their interests in the region align with the company’s current plans.