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Chevron Exits Myanmar's Yadana Gas Field: Report

Chevron Corporation (NYSE:CVX) reportedly has left the Yadana natural gas field in Myanmar. This has happened over two years after the company condemned violence and human rights abuses there and announced it would leave, reported Reuters. Chevron has redistributed its 41.1% stake in the gas field to the remaining shareholders – Thailand’s PTT Exploration and Production and state-owned Myanma Oil and Gas Enterprise (MOGE). On Friday, PTTEP, the gas field operator, said its stake in Yadana had increased to 62.96%, as per the report. The Yadana field, which is located in the Gulf of Martaban, has produced around 6 billion cubic meters (212 billion cubic feet) per year of gas, 70% of ...