- Can an ambitious Milei make Argentina an AI giant?
- Haiti, its suffering growing, in 'race against time': UN expert
- Ibrahim Aqil, the Hezbollah elite unit commander wanted by the US
- Chinese forward Cui signs NBA contract with Brooklyn Nets
- US Fed dissenter calls for 'measured' pace of rate cuts
- Guardiola tells players to lead change over workload as Kompany demands cap on games
- Norway limits wild salmon fishing as stocks hit new lows
- Top Hezbollah commander killed in Israeli strike on Beirut
- Rotterdam fatal knife attacker suspected of 'terrorist motive'
- First early votes cast in knife-edge US presidential election
- Top-ranked Swiatek out of Beijing due to 'personal matters'
- Hard-right Reform UK looks to the future after vote success
- Embiid agrees to NBA contract extension with 76ers
- Joshua aims to complete road to redemption in Dubois bout
- World champion Bagnaia sets pace with lap record at Misano
- Biden says 'working' to get people back to homes on Israel-Lebanon border
- Pope criticises Argentina's crackdown on protesters
- Court limits screenings of videos in France mass rape case
- Gurbaz century takes Afghanistan to 311-4 in 2nd ODI
- Central banks face 'difficult balancing act': IMF chief
- McLaren's Norris sets Singapore pace as struggling Verstappen 15th
- Guardiola tells players to lead change over workload fears
- Paris Olympics sports equipment moves to new homes
- 'Happy' Kinghorn relishing life at Toulouse
- Norris sets Singapore pace as Verstappen only 15th
- 8 dead in Israeli strike, source says Hezbollah commander killed
- Germany to bid to host women's Euro 2029
- Portugal brings deadly forest fires under control
- Postecoglou defends Solanke after slow start to Spurs career
- US nuclear plant Three Mile Island to reopen to power Microsoft
- Arteta urges Arsenal to take next step in Man City showdown
- Stock markets fall after Fed-fuelled rally
- Top Hezbollah commander 'killed' in Israel strike
- Poland charges Russian over attack on Navalny ally: prosecutors
- Man City have rest 'advantage' in Arsenal showdown: Guardiola
- Maresca has 'no doubt' in Jackson as Chelsea's number nine
- EU chief announces 35 bn euro loan plan for Ukraine before winter
- From TikTok to Hollywood, the irresistible rise of Italy's Khaby Lame
- Verstappen punished for swearing in Singapore press conference
- Sri Lanka lead by 202 in first New Zealand Test
- Brook 'not too fussed' by England's batting in heavy Australia loss
- India's Ashwin 'happy' to embrace pressure
- A modern 'Trojan Horse': two days of mayhem in Lebanon
- Third of Burundi mpox cases in children under five: UN
- Man Utd appoint Foster + Partners to develop Old Trafford 'masterplan'
- Israel-Hezbollah exchanges intensify on Lebanon border
- French mayor sorry for 'no one died' remark over mass rape trial
- Mohamed Al-Fayed, outsider shunned by British high society
- Lawyers say 'monster' late Harrods owner abused dozens of women
- India in box seat after Bumrah takes four against Bangladesh
CMSC | 0.06% | 25.135 | $ | |
SCS | -3.02% | 12.92 | $ | |
RBGPF | 5.79% | 60.5 | $ | |
RIO | -2.36% | 63.675 | $ | |
RYCEF | 0.14% | 6.96 | $ | |
CMSD | 0.16% | 25.05 | $ | |
NGG | 1.25% | 69.7 | $ | |
BCC | -2.08% | 141.74 | $ | |
RELX | -0.31% | 47.98 | $ | |
VOD | -0.45% | 10.015 | $ | |
BCE | -0.9% | 34.875 | $ | |
JRI | -0.56% | 13.325 | $ | |
BTI | -0.36% | 37.435 | $ | |
BP | -0.23% | 32.685 | $ | |
GSK | -1.87% | 40.855 | $ | |
AZN | -0.64% | 78.395 | $ |
Thai firm takes over Myanmar gas field after Total withdrawal
Thai energy company PTTEP has said it will take over the running of Myanmar's vital Yadana gas field following the withdrawal of global giants Chevron and TotalEnergies in January.
The American and French firms said they would pull out of Myanmar following growing international pressure from human rights groups to cut financial ties with the junta after last year's military coup.
The Yadana gas field in the Andaman Sea provides electricity to Myanmar and Thailand, one of a number of gas projects that Human Rights Watch says make up Naypyidaw's single largest source of foreign currency revenue, generating more than $1 billion annually.
"After the decision of TotalEnergies to withdraw from Yadana project, PTTEP has thoroughly considered to take a step as the successor operator in order to ensure the no interruption of natural gas supply," PTT Exploration and Production Public Company (PTTEP) said in a statement Monday.
PTTEP -- a unit of Thailand's majority state-owned energy firm PTT -- will take control of operations from July 20, saying the "continuity in gas production and preventing disruption to energy demand" was of utmost importance.
The field accounts for roughly 50 percent of Myanmar's gas demand, PTTEP said, and around 11 percent of Thailand's.
In recent weeks, Myanmar has been hit by a series of power outages -- forcing people in commercial capital Yangon to queue for water -- with the junta blaming rising gas prices and attacks by anti-coup fighters on infrastructure.
The junta has interests in large swathes of the country's economy, including oil and gas.
Other international firms -- including British American Tobacco and French renewable energy firm Voltalia -- have also pulled back from Myanmar since February's coup last year.
More than 1,600 people have died in the subsequent military crackdown and 11,000 have been arrested, according to a local monitoring group.
C.Meier--BTB