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France's TotalEnergies Latest Western Company to Pull Out from Myanmar

  • Posted Jan 21, 2022 17:28 by Rosahlee Bautista
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INTERNATIONAL: French energy group TotalEnergies has announced on Friday, January 21,it had decided to withdraw from Myanmar because of the worsening human rights situation there, becoming the latest Western company to pull out following a coup there last year.

Since the coup, Myanmar security forces have killed more than 1,400 people and arrested thousands to try to crush resistance, local non-governmental organization Assistance Association for Political Prisoners has reported. The Junta disputes the figures.

"The situation, in terms of human rights and more generally the rule of law, which have kept worsening in Myanmar since the coup of February 2021, has led us to reassess the situation and no longer allows TotalEnergies to make a sufficiently positive contribution in the country," it said in a statement.

The junta has seized power alleging widespread fraud in a November 2020 election won by a landslide by the civilian government led by Aung San Suu Kyi. International and local monitoring groups has said there were no major irregularities with the vote.

Total Energies did not quantify the financial impact of the withdrawal, but has claimed the country represented a minor part of its revenues.

TotalEnergies has said it had notified its partners in Myanmar of its withdrawal, which will become effective at the latest at the expiry of a 6-month contractual period.


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