Ahead of the Total and Chevron shareholders meetings, Total takes some action
On May 25, 2021, people around the United States took part in protests against @Chevron for its financial support of the #MyanmarMilitary and for its bad policies all over. These images were taken at those protests.
At the same time that these protests were happening, Total, the French company released this:
In light of the unstable context in Myanmar, following a joint proposal by Total and Chevron at the occasion of a shareholders’ meeting of MGTC (Moattama Gas Transportation Company Limited) held on 12th May 2021, cash distributions to the shareholders of the company have been suspended.
The decision to suspend is effective from 1st April 2021 and all cash distributions by MGTC to its shareholders (Total (31.24%), Chevron (28.26%), PTTEP (25.5%), and MOGE (15%)) are suspended.
MGTC gas transportation system carries the gas produced from the Yadana field operated by Total Exploration & Production Myanmar to the Myanmar/Thailand border over a distance of 400 kilometers.
Total continues to act as a responsible operator of the Yadana field, maintaining the production of gas in accordance with applicable laws, so as not to disrupt the electricity supply that is vital to the local populations of Myanmar and Thailand.
Total condemns the violence and human rights abuses occurring in Myanmar and reaffirms that it will comply with any decision that may be taken by the relevant international and national authorities, including applicable sanctions issued by the EU or the US authorities.Total press release put out on May 26, 2021
Simon Billenness, Executive Director of the Campaign for a New Myanmar, wrote this about the news:
My quick and dirty analysis is that this simply suspends dividends to the pipeline partners: Total, Chevron, PTT, and MOGE. But this does not affect payments of taxes and, most importantly, revenues sharing with the Myanmar government/junta.Simon Billenness
The good news is that progress in this area is happening. It is happening because activists like you have been willing to take to the streets, write your government, and sign petitions like this one. You can read more about the situation with Chevron here.