BANGKOK/HOUSTON, U.S. -- The Myanmar government is facing a potential crisis of dwindling revenue, as overseas energy companies pull out of natural gas operations in the country one after another, squeezing the ruling military's primary source of foreign income.
PTT Exploration and Production (PTTEP), a subsidiary of Thailand's state-backed energy company PTT, has postponed a project where investments were slated to reach $2 billion, including power generation. Western companies including Chevron have almost exited the country entirely, pushed in part by pressure from human rights campaigners after the military took control of the Southeast Asian country in February 2021.
