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Big oil's slow retreat from Myanmar contrasts with fast Russia exit

Money, sanctions and potential come into play

Senior General Min Aung Hlaing and his army ousted Myanmar's elected government in a military takeover on Feb. 1 last year, and Russian President Vladimir Putin invaded Ukraine on Feb. 24 this year. (Nikkei montage/Reuters/Getty Images/PTTEP)

BANGKOK -- Oil companies have taken nearly a year to retreat from Myanmar after the military seized power in 2021, unlike their rapid withdrawal from Russia following its invasion of Ukraine.

The difference in their approach provides a glimpse into the workings of top oil companies and what really motivates them through war, political upheaval, nationalizations and violent fluctuations in commodity prices.

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