Trafigura's Puma Energy to exit Myanmar
Puma Energy, a midstream and downstream unit of Swiss trading company Trafigura, will fully exit Myanmar, it said on October 5 in a statement.
“Following a board decision to fully exit Myanmar earlier this year, Puma Energy has signed an agreement to sell its stake in Puma Energy Asia Sun (PEAS) and a minority share in National Energy Puma Aviation Services (NEPAS) to a locally owned private company,” the company said.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
PEAS is a joint venture between Puma Energy and local company Asia Sun Energy and owns the petroleum products terminal at the Thilawa port. In March this year, the company agreed to sell a significant part of its infrastructure and storage business to Impala Terminals Group.
Global energy companies have exited Myanmar following a military coup in February 2021. TotalEnergies, Chevron and Woodside announced their withdrawal from the country earlier this year.
Amnesty International welcomed the decision and said that Puma Energy's withdrawal from Myanmar comes after a long campaign by human rights groups.
“Amnesty International acknowledges Puma Energy’s decision to leave the country, which comes after a long campaign by civil society groups including Burma Campaign UK and Justice For Myanmar, who among others have placed vital scrutiny on aviation fuel supplies that may end up in the hands of Myanmar’s military," Amnesty International’s business and human rights researcher Montse Ferrer said.
“Puma Energy must ensure a safe and responsible disengagement now that it is leaving the country, including by providing a transparent and clear roadmap of its plans and preventing the military from accessing its aviation fuel infrastructure," Ferrer added.
Shortly after the February 2021 coup, Puma Energy said it was suspending its operations in Myanmar. It subsequently resumed operations but, according to the company, only for civilian purposes.