Myanmar: Chevron exits Myanmar; interest in Yadana gas project distributed to PTTEP & MOGE
7 April 2024
Chevron has exited Myanmar over two years after first announcing its planned divestment, following sustained civil society pressure over payments from the Yadana gas project to the illegal Myanmar junta.
Chevron’s planned sale to Canada’s MTI Energy also appears to have been cancelled after civil society pressure.
Chevron’s interest in the Yadana gas project has been redistributed to the remaining shareholders: Thailand’s PTTEP and Myanma Oil and Gas Enterprise (MOGE), the state-owned enterprise illegally seized by the junta through its 2021 attempted coup.
The Yadana gas project has been a lucrative source of revenue for the illegitimate junta and financed its campaign of terror against the people. Chevron and its partners been complicit in the junta’s war crimes and crimes against humanity through participation in the Yadana project.
Divestment alone does not absolve Chevron of its human rights responsibilities under the OECD Guidelines and UN Guiding Principles on business and human rights. The transfer of its interest to PTTEP and MOGE permits international crimes to continue because the money and resources remain in the hands of the perpetrators of those crimes.
Chevron should be transparent with the Myanmar people, disclose its human rights due diligence and outline the steps it has taken to exit responsibly and compensate victims of its dirty business in Myanmar.
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