Australian petroleum company Woodside operates multiple exploration and drilling sites in Myanamar.
SYDNEY: Australian energy firm Woodside announced its withdrawal from junta-run Myanmar on Thursday, the latest company to head for the exit following a military coup last year.
“Woodside has decided to withdraw from its interests in Myanmar,” the company said in a statement to shareholders after nine years of operating in the country.
The Perth-based petroleum giant cited “the deteriorating human rights situation” as part of the reason for the move, which will cost the company at least US$200 million.
The exit, which comes amid building international pressure on the junta, follows energy majors TotalEnergies and Chevron announcing their departures last week.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
