BANGKOK -- A subsidiary under Thailand's state-owned energy giant PTT will suspend oil transport and storage operations in Myanmar over "violence and unrest" in the country, the company announced a week after losing one of the world's largest sovereign wealth funds as an investor.
The subsidiary, PTT Oil and Retail Business (PTTOR), holds a 35% stake in Bright Energy, a joint venture formed in 2019 with individual investors. Bright Energy had been constructing an oil storage terminal near Yangon, which was expected to be the biggest in Myanmar.
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